ROBERTSDALE, Ala. – The seller’s market remains as of now according to Baldwin County’s March 2022 Housing Report, but with a decrease in total closed sales, new sellers may have to examine the changing market dynamics in order to attract buyers. Baldwin REALTORS® Multiple Listing Service (MLS) reports a 2.5% decrease in total closed sales for Baldwin County in March 2022, in comparison with March 2021. With average sales prices steadily rising and average Days on Market (DOM) continuing at just over a month’s time – not to mention the increasing mortgage rates – it’s an intimidating time for buyers.
NAR’s chief economist Lawrence Yun said this about the current market in recent reports: "The surge in home prices combined with rising mortgage rates can easily translate to another $200 to $300 in mortgage payments per month, which is a major strain for many families already on tight budgets."
The Resort area of Baldwin County, which includes all of Orange Beach and Fort Morgan, plus everything in Gulf Shores that is South of AL-180, had an average sales price of $658,236 for the month of March 2022 – a 16.9% increase from 2021. Properties stayed active on the market for an average of 37 days, which is 32 less days than last year’s average. Only 323 properties sold, compared to 403 properties in March 2021. Due to this decrease, the total dollar amount of sold properties dropped to $212,610,523, which is approximately $14M less than March 2021.
The Traditional Residential properties in Baldwin County, which include everything outside of the Resort areas, have not yet felt the effects of the changing market conditions, as this area of the county saw a 9.7% increase in the total number of closed sales and a 30% increase in total dollar amount sold. The average sales price of $371,022 increased 18.4% from March 2021’s $313,322 average. Average days on market (DOM) for this area of the county continues to be short with this month reporting at 33 days – a 26.7% decrease from March 2021’s 45 days.
Residential MLS Stats by Area:
Central Baldwin
Residential Properties sold in March 2022: 276
Average Sales Price: $288,267
Average Days on Market: 61
Average Sales Price Change from March 2021: Increased 30.5%
Coastal Condos
Residential Properties sold in March 2022: 232
Average Sales Price: $561,961
Average Days on Market: 31
Average Sales Price Change from March 2021: Increased 4.6%
Coastal Homes
Residential Properties sold in March 2022: 182
Average Sales Price: $645,659
Average Days on Market: 45
Average Sales Price Change from March 2021: Increased 12.8%
Eastern Shore
Residential Properties sold in March 2022: 310
Average Sales Price: $428,093
Average Days on Market: 31
Average Sales Price Change from March 2021: Increased 20.3%
North Baldwin
Residential Properties sold in March 2022: 26
Average Sales Price: $256,396
Average Days on Market: 26
Average Sales Price Change from March 2021: Increased 14.4%
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About Baldwin REALTORS®
Baldwin REALTORS® is the source for real estate in Southern Alabama. We provide resources, education and tools to over 2,500 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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