Baldwin County Home Sales Dip Amid Steady Mortgage Rates

OBA Staff • March 9, 2024

Real Estate Slowdown Hits Baldwin County with Lower Sales Volume

Robertsdale, Ala. – (OBA) – The Baldwin County real estate market is experiencing a downturn. According to the Baldwin REALTORS®, Baldwin County saw a decrease in home sales in February 2024 compared to the previous year. The total sales volume dropped significantly by 21.6%, from $252,571,333 in February 2023 to $197,898,167 in the recent month.

For traditional residential properties in Baldwin County, sales fell to 309 last month from 359 in February 2023. However, the average sales price saw a slight increase of 1.0%, with properties averaging at $400,479. The average days on market (DOM) for these homes was 58 days, showing a decrease from 62 days in 2023.

The resort areas of Baldwin County, including Orange Beach, Fort Morgan, and Gulf Shores, also faced a downturn. Sales in these areas dropped by 21.5% with only 113 properties sold, down from 144 in the same month last year. The average sales price in these areas decreased by 14.3% to $656,195, and homes stayed on the market longer, with an average of 82 DOM.

The report also detailed sales in specific areas of Baldwin County. Central Baldwin saw 113 residential properties sold at an average price of $322,173. Coastal condos and homes experienced a decrease in average sales prices by 6.9% and 20.6% respectively. The Eastern Shore and North Baldwin areas also saw decreases in average sales prices and a slight variation in the average days on market.

This downturn in Baldwin County's real estate market reflects broader national trends, as mortgage rates continue to challenge buyers and sellers alike.

Residential MLS Stats by Area:

Central Baldwin

Residential Properties sold in February 2024: 113
Average Sales Price: $322,173
Average Days on Market: 58
Average Sales Price Change from February 2023: Increased 1.0%

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%

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%

Eastern Shore

Residential Properties sold in February 2024: 150
Average Sales Price: $463,396
Average Days on Market: 57
Average Sales Price Change from February 2023: Decreased 3.1%

North Baldwin

Residential Properties sold in February 2024: 14
Average Sales Price: $270,391
Average Days on Market: 54
Average Sales Price Change from February 2023: Decreased 17.7%

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