Baldwin REALTORS® Releases New Trends Report

Average price jumped 27% in resort category

Real Estate transactions play a key role in the Baldwin County community. The pricing and development vary widely between the northern and southern parts of the county. Thankfully, the Baldwin REALTORS® provide a regular year-over-year report which keeps up with current trends in the market.

The most recent report show that resort properties have seen a 27% increase in pricing, while actual number of closed sales have fallen by 11%, when compared to the same period of 2023.

According to Baldwin REALTORS® Multiple Listing Service (MLS) statistics, the Resort submarket saw a significant rise in average sales prices due to several sales exceeding $1 million, while the Traditional Residential submarket experienced an increase in closed sales but a slight decline in prices. Overall, November 2024 showcased steady market activity with growing inventory levels in both submarkets.

Resort Submarket

The Resort area of Baldwin County (including Orange Beach, Fort Morgan, and Gulf Shores south of AL-180) reported an average sales price of $976,882 for November 2024, reflecting a 27.1% increase compared to November 2023. This substantial growth is due to 21 of the 87 properties selling for greater than $1 million in price. However, listings spent 125 days on market (DOM) on average, compared to 86 days last year, indicating a slower pace of transactions. New listings in the Resort area grew by 10%, with 231 properties listed this past month compared to 210 in November 2023. Closed sales, however, declined from 98 properties sold in 2023 to 87 properties sold this year.

Traditional Residential Submarket

Baldwin County’s Traditional Residential area (covering all Baldwin County properties outside the Resort market) saw a slight 5% decline in average sales price, dropping from $399,877 in November 2023 to $379,841 in November 2024. Properties in this market spent an average of 60 days on market, a modest increase of five days compared to last year. Closed sales in the Traditional Residential market rose by 4.4%, with 329 properties sold this past month, up from 315 in November 2023. New listings also saw a notable increase, climbing from 433 in 2023 to 480 in November 2024.

Summary

While Baldwin County’s housing market continues to adapt to changing conditions, November 2024 demonstrated resilience in both submarkets. The Resort area achieved significant price growth despite fewer sales, while the Traditional Residential market experienced increased activity with more properties coming to market. These trends highlight the region’s diverse appeal and the ongoing demand for Baldwin County real estate.

Central Baldwin

· Residential Properties sold in November 2024: 147

· Average Sales Price: $318,932

· Average Days on Market: 56

· Average Sales Price Change from November 2023: Decreased 7.1%

Coastal Condos

· Residential Properties sold in November 2024: 59

· Average Sales Price: $697,631

· Average Days on Market: 110

· Average Sales Price Change from November 2023: Increased 2.8%

Coastal Homes

· Residential Properties sold in November 2024: 50