ROBERTSDALE, Ala. – The Baldwin County real estate market continued the path to stability last month. Baldwin REALTORS® Multiple Listing Service (MLS) provides monthly reports of year-over-year local real estate trends, but it is important to note the anomaly years of 2021 & 2022, when markets across the country were in a heated rebound following the pandemic. The rush to buy and sell property in those years was historic and will likely not be seen again anytime soon.
The current real estate market, as seen this past month, positions both buyers and sellers on a more even playing field. Housing supply continues to be low on a national scale, so the demand continues to drive up sales prices. However, buyers have the opportunity now to consider the investment as properties are not selling as quickly.
For March 2023, the Resort area of Baldwin County (all of Orange Beach, Fort Morgan, and anything in Gulf Shores south of Canal Rd/180) reported increases in Average Sales Price and Average Days on Market. Average sales price saw a 10.1% increase from March 2022, resulting in an average of $729,064. Listings spent more time on the on market at an average of 82 days, compared to just 38 days the year prior. A decrease was reported in Total Closed Sales as 478 properties solid in March 2023, compared to 641 in March 2022.
Baldwin County’s Traditional Residential area (everything else in Baldwin County not included in the Resort market areas) also saw the same increases and decrease this past month. Average sales price experienced a 3.5% increase from March 2022 at $382,993. Properties stayed on market longer with an average of 56 days, which is 23 more days than the average a year ago. Total Closed Sales for this area of the county reported a loss of 145 properties from the previous year at 189 properties sold.
For previous months’ housing reports, click here.
Residential MLS Stats by Area:
Central Baldwin
Residential Properties sold in March 2023: 239
Average Sales Price: $293,903
Average Days on Market: 78
Average Sales Price Change from March 2022: Increased 2.0%
Coastal Condos
Residential Properties sold in March 2023: 115
Average Sales Price: $593,353
Average Days on Market: 77
Average Sales Price Change from March 2022: Increased 5.6%
Coastal Homes
Residential Properties sold in March 2023: 114
Average Sales Price: $749,677
Average Days on Market: 77
Average Sales Price Change from March 2022: Increased 16.1%
Eastern Shore
Residential Properties sold in March 2023: 218
Average Sales Price: $452,006
Average Days on Market: 44
Average Sales Price Change from March 2022: Increased 5.6%
North Baldwin
Residential Properties sold in March 2023: 19
Average Sales Price: $253,692
Average Days on Market: 40
Average Sales Price Change from March 2022: Decreased 1.1%
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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 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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