Average Price of AL Coastal Home Sold in Feb. Drops 20%

Baldwin Realtors® Monthly Report

Local home sales continue to decrease as national mortgage rates do not see improvement. Baldwin REALTORS® Multiple Listing Service (MLS) reports a year-over-year decrease in Baldwin County’s Closed Sales for February 2024. Total sales volume for the county also decreased by 21.6% from $252,571,333 in February 2023 to $197,898,167 this past month.

Coastal Homes

· Residential Properties sold in February 2024: 76

· Average Sales Price: $610,803

· Average Days on Market: 79

· Average Sales Price Change from February 2023: Decreased 20.6%

The Resort area of Baldwin County (all of Orange Beach, Fort Morgan, and anything in Gulf Shores south of Canal Rd/180) saw a total of 113 properties sold, compared to 144 in February 2023 – a 21.5% decrease. Average sales price dipped by 14.3% at a resulting $656,195. And average DOM increased 12.3% in this area with 82 DOM in comparison to February 2023’s 73 DOM.

Coastal Condos

· Residential Properties sold in February 2024: 72

· Average Sales Price: $601,481

· Average Days on Market: 76

· Average Sales Price Change from February 2023: Decreased 6.9%

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