Baldwin County Condo Report February 218 Monthly Indicators Recent Figures Trends Total Condo Sales Current Month February 218 113 vs. Prior Month January 218 11 11.9% vs. Last Year February 217 114 -.9% vs. 5-Yr Avg February 13-'17 16 6.6% 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 214 128-11.7% vs. Trough February 28 45 151.1% Year to Date February 218 214 vs.prior Year February 217 235-8.9% 14 12 8 6 4 2 45 Baldwin Condos: Total Sales 128 ACRE Commentary Historical Home Sales Graph: February 28-218 Historical data indicates that February condo sales on average February 217 114 (By Month) ( 13-17) increase from the month of January by 24.5 percent. February 216 122 February sales increased by 11.9 percent from the prior month." February 215 121 February 214 128 February 213 78 5- Year Avg: 113 3- Year Avg: 119 Median Sales Price Current Month February 218 33, vs. Prior Month January 218 31, 6.5% vs. Last Year February 217 289, 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 218 32, vs.prior Year February 217 289,55 1.5% $36, $31, $26, Baldwin Condos: Median Sales Price 33, Median Peak February 218 33,.% Trough February 21 165,5 99.9% $21, $16, 165,5 ACRE Commentary Historical Median Selling Price Graph: February 28-218 Historical data indicates that February median sales prices on (By Month) February 217 289, average ( 13-17) decrease 3.5 percent from the month of January. The current median price increased by 6.5 percent from February 216 245, the prior month." February 215 271,6 February 214 3, February 213 265, 5- Year Avg: 274,14 3- Year Avg: 268,567 Page 1 of 5
Monthly Indicators Recent Figures Trends Average Sales Prices Current Month February 218 362,2 vs. Prior Month January 216 364,263 -.6% vs. Last Year February 217 324,989 11.4% vs. 5-Yr Avg February 13-'17 31,433 2.2% 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 218 363,232 vs.prior Year February 217 318,871 13.9% Average Peak February 218 362,2.% Trough February 21 25,278 76.4% ACRE Commentary Historical data indicates that February average condo sales prices Historical Average Selling Price Graph: February 28-218 (By Month) on average ( 13-17) decrease 3.7 percent from the month of February 217 324,989 January. The current average price decreased.6 percent from the February 216 262,498 prior month." February 215 294,555 February 214 355,228 February 213 269,896 5-Year Avg: 31,433 3- Year Avg: 294,14 Baldwin Condos: Average Sales Price $4, $38, $36, $34, $32, $3, $28, $26, $24, $22, $2, 25,278 362,2 Days on Market (DOM) Current Month February 218 77 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 218 93-17.2% vs. Last Year February 217 169-54.4% vs. 5-Yr Avg February 13-'17 176-56.3% Year to Date February 218 85 vs.prior Year February 217 158-46.% 25 23 21 19 17 13 Baldwin Condos: Average Days on Market 222 11 9 7 77 ACRE Commentary Historical Average DOM Graph: February 28-218 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 217 169 (By Month) February 216 197 February 215 149 February 214 148 February 213 217 5-Year Avg: 176 Page 2 of 5
Monthly Indicators Recent Figures Trends Total Condos Listed for Sale Current Month February 218 76 vs. Prior Month January 218 713-1.% vs. Last Year February 217 755-6.5% vs. 5-Yr Avg February 13-'17 933-24.4% 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 2,372-7.2% Trough February 218 76.% Baldwin Condos: Total Inventory for Sale 2,5 2,372 2, 1,5 1, 5 76 ACRE Commentary Historical Total Homes Listed Graph: February 28-218 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 217 755 (By Month) February 216 93 February 215 999 February 214 1,19 February 213 991 5-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 218 6.2 vs. Prior Month January 218 7.1-11.5% vs. Last Year February 217 6.6-5.7% vs. 5-Yr Avg February 13-'17 8.6-27.3% I/S Ratio Peak February 28 52.7-88.1% Trough February 218 6.2.8% 62. 52. 42. 32. 22. 12. 2. 52.7 6.2 ACRE Commentary Historical I/S Ratio Graph: February 28-218 "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 217 6.6 (By Month) February 216 7.4 February 215 8.3 February 214 8. February 213 12.7 5-Year Avg: 8.6 3- 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 - www.acre.cba.ua.edu. Page 3 of 5
Monthly Condo Sales and Inventory: Feb. 217 - Feb. 218 Sales 23 21 19 17 13 11 9 7 5 Baldwin Condo Sales Baldwin Condos Inventory 9 85 8 75 7 65 6 Inventory Historical Condo Sales and Inventory February 28-218 Sales 14 12 8 6 4 2 3, 2,5 2, 1,5 1, 5 Inventory Baldwin Condo Sales Baldwin Condo Inventory Page 4 of 5
Average Days on Market and Median Sales Price 25 4, Average Days on Market 2 5 35, 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