Baldwin County November 2024 Housing Report

According to Baldwin REALTORS Multiple Listing Service statistics, the “Resort” submarket saw a significant rise in average sales prices due to several sales exceeding $1 million, while the “Traditional Residential” submarket experienced an increase in closed sales but a slight decline in prices. Overall, November 2024 showcased steady market activity and growing inventory levels in both submarkets. “Resort” reported an average sales price of $976,882 for November 2024, reflecting a 27.1% increase compared to November 2023. This substantial growth is due to 21 of the 87 properties selling for greater than $1 million in price. However, listings spent 125 days on market on average, compared to 86 days last year, indicating a slower pace of transactions. New “Resort” listings grew by 10%, with 231 properties listed this past month compared to 210 in November 2023. Closed sales, however, declined from 98 properties sold in 2023 to 87 properties sold this year. “Traditional Residential” saw a 5% decline in average sales price, dropping from $399,877 in November 2023 to $379,841 in November 2024. Properties in this market spent an average of 60 days on market, an increase of five days compared to last year. Closed sales in “Traditional Residential” market rose by 4.4%, with 329 properties sold this past month, up from 315 in November 2023. New listings also saw a notable increase, climbing from 433 in 2023 to 480 in November 2024.