Gulf Coast Condo Sales

The Gulf Coast Market Report:

Baldwin County condo sales, which include condos along the Gulf Coast, improved 28.3 percent in September from the same period a year earlier. Through the month of September (YTD), condo sales are up 9.3 percent compared to 2012.

Click here to view or print the entire monthly report compliments of the ACRE Corporate Cabinet.
Historical Sales.jpgView full sizeBaldwin County condo sales up 28% in September. Inventory now down 55% from its September 2008 peak. Infograph courtesy of ACRE. All rights reserved.
Supply: Baldwin County condo inventory totaled 974 units, a decrease of 1.9 percent from September 2012. The level increased by 12 units or 1.2 percent from the prior month.  Historical data indicates that September inventory on average (Â?2008-2012) decreases from the month of August by 3.9%. Condo inventory during the month of September peaked in 2008 at 2,145 units. The inventory is now down 54.6% from the peak. In September, the months of condo supply stood at 8.3 months, a decrease of 23.5 percent from 10.8 months last September. In September 2008, it was 37.6 months of supply. This is the most balanced market during the month of September since we began collecting data in 2008 which is terrific news for gulf coast real estate. 

Demand: As expected, condo sales slipped 15.7 percent from the prior month. This is consistent with seasonal and historical data trends that reflect September condo sales, on average (2008-2012), decrease from the month of August by 13.1 percent.

Pricing: The Baldwin County condo median selling price in September was $311,500, an increase of 58.8 percent from last September and 24.8 percent when compared to the prior month. Historical data trends (2008-2012) reflects September median condo selling price typically increase from the month of August by 4.1 percent.  The median condo price is 58.8 percent above its month of August bottom of $196,200 established in 2012. 

As the condo market transitions through 2013, continued gradual growth in the rate of sales and pricing is anticipated. Statistical volatility should also still be expected.

View the current monthly Baldwin County (Gulf Coast) Condo Report here compliments of the ACRE Corporate Cabinet

Baldwin County Condo Monthly Report is work product developed in conjunction with the Baldwin County Association of REALTORS to better serve both local and worldwide consumers interested in the sandy white beaches along Alabama's treasured gulf coast. The ACRE monthly report is provided to illustrate the "general" market direction & trends when comparing prior periods with the most current available condo data. Real estate is local and statistics will fluctuate between areas along the gulf coast including specific condo properties. ACRE recommends that you consult a local real estate professional for "specific" advice associated with the condo market in Baldwin County.

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