ROBERTSDALE, Ala. – Despite Baldwin County's popularity as a summertime destination for short-term rentals, residential home sales have experienced a decline over the past month. According to the Baldwin REALTORS® Multiple Listing Service (MLS), there have been year-over-year decreases in Total Revenue, Total Closed Sales, and New Inventory for both the Traditional and Resort-based sub-markets in June 2024. Last June, residential real estate sales generated over $380 million, but this year's total revenue has dropped by nearly $70 million.
Traditional Residential properties experienced a 1.5% increase in Average Sales Price at $411,166. Properties stayed on market longer with an average of 58 days, which is 9 more days than the average a year ago. Continuing the trend seen over several months, Total Closed Sales decreased from the previous year’s number at 485 units sold (in comparison to 559 units sold in June 2023). Additionally, there was more than a 100-property decrease in New Inventory added within the month.
Resort/Island-based properties (residential units located within Orange Beach, Fort Morgan, and anything in Gulf Shores south of Canal Rd/180) saw a 18.9% increase from June 2023 in Average Sales Price, resulting in $806,576. Listings spent more time on market at an average of 87 days, compared to 67 days the year prior. A decrease was also reported in Total Closed Sales as 140 properties solid in June 2024, compared to 220 in June 2023. New Inventory added in this area of the county last month was 88 less properties than the year before.
For previous months’ housing reports, click here.
Residential MLS Stats by Area:
Central Baldwin
Residential Properties sold in June 2024: 177
Average Sales Price: $335,168
Average Days on Market: 58
Average Sales Price Change from June 2023: Decreased 4.0%
Coastal Condos
Residential Properties sold in June 2024: 81
Average Sales Price: $695,980
Average Days on Market: 85
Average Sales Price Change from June 2023: Increased 11.6%
Coastal Homes
Residential Properties sold in June 2024: 110
Average Sales Price: $725,444
Average Days on Market: 85
Average Sales Price Change from June 2023: Increased 14.1%
Eastern Shore
Residential Properties sold in June 2024: 238
Average Sales Price: $480,833
Average Days on Market: 57
Average Sales Price Change from June 2023: Increased 4.0%
North Baldwin
Residential Properties sold in June 2024: 27
Average Sales Price: $265,807
Average Days on Market: 28
Average Sales Price Change from June 2023: Decreased 18.0%
About Baldwin REALTORS®
Baldwin REALTORS® is the source for real estate in Southern Alabama. We provide resources, education and tools to over 3,000 professionals across the region. We work to protect the interests of property owners, and our members serve buyers and sellers as REAL Advocates, Advisors, and Experts. Realtors agree to abide by a strict code of ethics and are held to a high ethical standard by their peers through their association membership. The term Realtor is a federally registered trademark owned by the National Association of REALTORS® and denotes membership in the Nonprofit Association.
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