ROBERTSDALE — The Baldwin County housing market continues to shift to a slower pace.According to Baldwin REALTORS® Multiple Listing Service (MLS) statistics, October 2022 saw an almost $70 …
ROBERTSDALE — The Baldwin County housing market continues to shift to a slower pace.
According to Baldwin REALTORS® Multiple Listing Service (MLS) statistics, October 2022 saw an almost $70 million decrease in total revenue of properties sold, in a year-over-year comparison with October 2021.
This was largely due to the 28.6% decrease in total number of properties sold in Baldwin County – exactly 199 less closed sales than the year prior. However, the increase in average sales price across the county helped to offset the significant decrease in sales.
The resort area of Baldwin County (which includes all of Orange Beach and Fort Morgan, plus everything in Gulf state route 180) reported an average sales price for last month at $652,233 – a 12.9% increase from the previous year.
Listings spent an average of 52 days on market (DOM) compared to 30 days in October 2021. And the resort market added 189 new listings to its inventory, which is a 26.2% decrease in new inventory from last year.
Baldwin County's traditional residential area (encompassing everything in Baldwin County outside of the resort market) saw an average sales price increase of 11.4% in the year-over-year comparison – going from $341,444 in October 2021 to $380,336 this past month.
Properties spent an average of 36 days on market, which was 12 days longer than the year prior. The amount of new inventory added to the market this month also decreased by 11.5% for this area of the county.