As you can see below, in comparing February 2011 sales in Baldwin County, Alabama to February 2010 there has been a 9.51% drop in the average home selling price year-to-year. On the positive side we had 888 fewer homes listed (inventory) as the same time last year which equates to a 13 month supply of homes versus 22 months of supply. This is an improvement in the right direction to eventually become a seller’s market, which happens when we have a 6 month or less, inventory. It is also encouraging to see a rise in the number of sales from 209 to 279 for the month of February, and the days on market are relatively similar.
|Median Home Price||$175,000||$150,000||16.67%|
|Average Home Price||$219,315||$200,270||9.51%|
|Months of Supply||13||22||-39.83%|
|Total # Sales||279||209||33.49%|
|Days on Market||188||180||4.44%|
The above data and % change is provided to illustrate the “general” market direction & trends when comparing a prior date with the most current residential data available. Real estate is local and ACRE recommends that you consult your local realtor for “specific” advice associated with your market. Information obtained from ACRE-The University of Alabama.