Baldwin County Condo Report February 2018

Transcription

1 Baldwin County Condo Report February 218 Monthly Indicators Recent Figures Trends Total Condo Sales Current Month February vs. Prior Month January % vs. Last Year February % vs. 5-Yr Avg February 13-' % Baldwin condo sales for February '18 totaled 113 units, representing a.9 percent decrease when compared to the 114 units that were sold in February '17. vs. Peak February % vs. Trough February % Year to Date February vs.prior Year February % Baldwin Condos: Total Sales 128 ACRE Commentary Historical Home Sales Graph: February Historical data indicates that February condo sales on average February (By Month) ( 13-17) increase from the month of January by 24.5 percent. February February sales increased by 11.9 percent from the prior month." February February February Year Avg: Year Avg: 119 Median Sales Price Current Month February , vs. Prior Month January , 6.5% vs. Last Year February , 14.1% vs. 5-Yr Avg February 13-'17 274,14 2.4% The median sales price for Baldwin County condominiums in February 218 was $33,, a 14.1 percent increase from February 217's median sales price of $289,. Year to Date February , vs.prior Year February ,55 1.5% $36, $31, $26, Baldwin Condos: Median Sales Price 33, Median Peak February ,.% Trough February ,5 99.9% $21, $16, 165,5 ACRE Commentary Historical Median Selling Price Graph: February Historical data indicates that February median sales prices on (By Month) February , average ( 13-17) decrease 3.5 percent from the month of January. The current median price increased by 6.5 percent from February , the prior month." February ,6 February 214 3, February , 5- Year Avg: 274,14 3- Year Avg: 268,567 Page 1 of 5

2 Monthly Indicators Recent Figures Trends Average Sales Prices Current Month February ,2 vs. Prior Month January , % vs. Last Year February , % vs. 5-Yr Avg February 13-'17 31, % The average sales price for Baldwin County condominiums for February 218 was $362,2, a 11.4 percent increase from February 217's average sales price of $324,989. Year to Date February ,232 vs.prior Year February , % Average Peak February ,2.% Trough February 21 25, % ACRE Commentary Historical data indicates that February average condo sales prices Historical Average Selling Price Graph: February (By Month) on average ( 13-17) decrease 3.7 percent from the month of February ,989 January. The current average price decreased.6 percent from the February ,498 prior month." February ,555 February ,228 February ,896 5-Year Avg: 31, Year Avg: 294,14 Baldwin Condos: Average Sales Price $4, $38, $36, $34, $32, $3, $28, $26, $24, $22, $2, 25, ,2 Days on Market (DOM) Current Month February The average number of days that a Baldwin County condominium was on the market in February 217 was 77. The number of days on market decreased 54.4 percent from February 217. vs. Prior Month January % vs. Last Year February % vs. 5-Yr Avg February 13-' % Year to Date February vs.prior Year February % Baldwin Condos: Average Days on Market ACRE Commentary Historical Average DOM Graph: February The 5-year DOM average ( 13-17) for the month of February is 176 days, which is 99 days above the current results. DOM is anticipated to remain within the current range (5 - days) for the foreseeable future. February (By Month) February February February February Year Avg: 176 Page 2 of 5

3 Monthly Indicators Recent Figures Trends Total Condos Listed for Sale Current Month February vs. Prior Month January % vs. Last Year February % vs. 5-Yr Avg February 13-' % Baldwin County condominiums available for sale in February 218 decreased by 49 units to a total of 76 when compared to 755 listed for sale during the same period last year. Inventory Peak February 28 2, % Trough February % Baldwin Condos: Total Inventory for Sale 2,5 2,372 2, 1,5 1, 5 76 ACRE Commentary Historical Total Homes Listed Graph: February Historical data indicates that February inventory on average ( 13-17) increases from January by 3.5 percent. February's inventory decreased 1. percent from the prior month. February (By Month) February February February 214 1,19 February Year Avg: 933 Baldwin Condos: Months of Supply Inventory-to-Sales Ratio 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 6.2 months of supply, down from 7.1 months in January 218 and down from 6.2 months in February 217. Current Month February vs. Prior Month January % vs. Last Year February % vs. 5-Yr Avg February 13-' % I/S Ratio Peak February % Trough February % ACRE Commentary Historical I/S Ratio Graph: February "February's 6.2 months of supply is below the 5-Year Average of 8.6 months. Baldwin County's condo inventory-to-sales ratio is.2 months above equilibrium, indicating a continued transition where buyers typically have slightly elevated bargaining power." February (By Month) February February February February Year Avg: Year Avg: 7.4 NOTE: This representation is based in whole or in part on data supplied by the reporting boards/associations of REALTORS or their Multiple Listing Service. The Alabama Center for Real Estate does not guarantee and is in no way responsible for its accuracy. Any Market data maintained by the Center does not necessarily include information on listings not published at the request of the seller, listings of brokers who are not members of a local board/association or MLS, unlisted properties, rental properties, etc. The statistics included in this report reflect the residential sales of houses, condominiums, and town homes. Historical Monthly Housing Statistics are available on the web at Alabama Center for Real Estate's homepage - Page 3 of 5

4 Monthly Condo Sales and Inventory: Feb Feb. 218 Sales Baldwin Condo Sales Baldwin Condos Inventory Inventory Historical Condo Sales and Inventory February Sales , 2,5 2, 1,5 1, 5 Inventory Baldwin Condo Sales Baldwin Condo Inventory Page 4 of 5

5 Average Days on Market and Median Sales Price 25 4, Average Days on Market , 3, 25, 2, Median Sales Price Baldwin Condo DOM Baldwin Condo Median Price, This report is compiled and brought to you by ACRE Research. You should not treat any information expressed in ACRE Reports as a specific inducement to make a particular investment or follow a particular strategy. The Alabama Center for Real Estate (ACRE) and/or its partners/work product sponsors does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. ACRE will not be liable for any loss or damage caused by your reliance on information contained in ACRE Reports. Page 5 of 5