Real Estate Market Trends for February & March 2020

Posted by Super Admin on Friday, May 1st, 2020 at 10:39am.

Feb 2020 Market Trends

ROBERTSDALE, Ala. – As the total number of properties sold in February 2020 for both Resort Area and Traditional Residential properties increased, the market saw an increase in sales price as well. Baldwin REALTORS® Multiple Listing Service (MLS) reports February’s median sales price for Resort Area increased to $367,875, compared to $358,750 in 2019. Additionally, February’s median sales price for Traditional Residential increased to $225,900, compared to $205,000 in 2019. 

For Resort Area, a total of 160 properties sold last month, compared to 154 in February 2019. Listings moved off the market at nearly the same pace in February 2020, spending an average of 99 days in active status compared to 94 days in February 2019.

 For Traditional Residential properties, a total of 425 properties sold last month compared to 385 in February 2019. Additionally, listings moved off the market slightly faster spending an average of 89 days in active status compared to 94 days in February 2019.

 Residential MLS Stats by Area:

 Central Baldwin

  • Residential Properties sold in February 2020: 164
  • Average Sales Price: $178,069
  • Average Days on Market: 81
  • Average Sales Price Change from February 2019: Increased 0.7%
  • Coastal Condos
  • Residential Properties sold in February 2020: 102
  • Average Sales Price: $416,221
  • Average Days on Market: 93
  • Average Sales Price Change from February 2019: Decreased 9.3% 

Coastal Homes

  • Residential Properties sold in February 2020: 76
  • Average Sales Price: $408,201
  • Average Days on Market: 104
  • Average Sales Price Change from February 2019: Increased 3.6%

Eastern Shore

  • Residential Properties sold in February 2020: 184
  • Average Sales Price: $313,026
  • Average Days on Market: 88
  • Average Sales Price Change from February 2019: Increased 6.1% 

North Baldwin

  • Residential Properties sold in February 2020: 9
  • Average Sales Price: $144,886
  • Average Days on Market: 80
  • Average Sales Price Change from February 2019: Increased 2%

March 2020 Market Trends

ROBERTSDALE, Ala. – While the total number of properties sold in March 2020 for Traditional Residential properties increased, the Resort/Island-based properties saw a decline in comparison to March 2019. Baldwin REALTORS® Multiple Listing Service (MLS) reports a total of 453 properties sold last month for Traditional Residential, compared to 384 in March 2019. Conversely, in the Resort Area, a total of 200 properties sold last month compared to 225 in March 2019. Additionally, March’s average sales price for Resort Area was $427,930 – a 7.3% decrease to $461,851 in 2019.

While the Resort Area shows more signs of impact from the current COVID-19 pandemic, Traditional Residential properties continue to display positive reporting. Along with the 18% increase in properties sold, Traditional Residential properties also saw a significant decrease in days on market. While houses averaged 100 days on market in March of 2019, this past month saw an average of 69 days – a 31% decrease in time. The average sales price also increased to $260,704 from $240,563 in March 2019.

For Resort Area, listings remained on market slightly longer than the year prior. The average days on market for this area of the county reported at 97 this past month, compared to 94 days in March 2019. Overall, Resort Area took a hit when combining days on market statistics with decreases in average sales price and properties sold.

Residential MLS Stats by Area:

Central Baldwin

  • Residential Properties sold in March 2020: 164
  • Average Sales Price: $211,321
  • Average Days on Market: 88
  • Average Days on Market Change from March 2019: Increased 30.5%

Coastal Condos

  • Residential Properties sold in March 2020: 127
  • Average Sales Price: $392,027
  • Average Days on Market: 80
  • Average Days on Market Change from March 2019: Decreased 10.2%

Coastal Homes

  • Residential Properties sold in March 2020: 104
  • Average Sales Price: $442,663
  • Average Days on Market: 115
  • Average Days on Market Change from March 2019: Decreased 4.9%

Eastern Shore

  • Residential Properties sold in March 2020: 227
  • Average Sales Price: $300,525
  • Average Days on Market: 76
  • Average Days on Market Change from March 2019: Increased 3.2%

North Baldwin

  • Residential Properties sold in March 2020: 28
  • Average Sales Price: $210,226
  • Average Days on Market: 70
  • Average Days on Market Change from March 2019: Increased 47.8%

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