January 2020 Baldwin County Condo Sales Update
Baldwin County condo sales for January totaled 106 units, an increase of 45% compared to same time last year. This performance leads the 5 year trailing average of 94 units, showing that demand is still strong for condominiums. Since over 90% of the condo sales occur in the beach markets of Gulf Shores, Orange Beach, and Fort Morgan, demand for beach condos remains strong.
The median sales price for Baldwin County condominiums this month was $422,500, a 15.4% increase from last year’s median sales price of $330,000.
The inventory of condos for sale divided by the current monthly sales volume equals the # of months of condo supply (Market considered to be in balance at approximately 6-7 months). Baldwin County Condos currently has 5.8 months of supply, up from 4.4 months in December 2019 and down from the 10.1 months in January of last year.
All in all, market trends continue to point to a reasonable real estate market that is trending slightly upwards with demand but overall has good market balance.