South Baldwin County February 2025 Market Update

First, the Months Supply of Inventory is at 5.45, which means it would take approximately 5.45 months to sell all the current homes on the market if no new listings were added. This number gives us an idea of the balance between supply and demand in the market. 

The 12-Month Change in Months of Inventory has increased by +55.27%, indicating that there has been an increase in the number of homes available for sale compared to the previous year. This could suggest a shift towards a more buyer-friendly market with more options to choose from.

The Median Days Homes are On the Market is 62, which is the average number of days it takes for a home to sell. A lower number typically indicates a faster-moving market, while a higher number may suggest homes are sitting on the market longer.

The Sold to List Price Percentage is at 96.9%, meaning that homes are, on average, selling for just under 97% of their listing price. This can give sellers an idea of how much negotiation room there is in the market.

Lastly, the Median Sold Price is $385,000, which is the middle price point of all homes sold in the market. This number can give buyers and sellers an idea of the general price range in the area.

Overall, these metrics paint a picture of a market with a moderate supply of inventory, homes selling at a high percentage of their list price, and a median price point of $385,000. The increase in inventory compared to last year may give buyers more options to choose from, while sellers may need to be strategic in pricing their homes to stay competitive in the market.

GULF SHORES

The Months Supply of Inventory is 9.34,  This indicates a balanced market where neither buyers nor sellers have a significant advantage.

The 12-Month Change in Months of Inventory is +75.56%, showing that the supply of homes on the market has increased significantly over the past year, which may lead to a more competitive market for sellers.

The Median Days Homes are On the Market is 64

The Sold to List Price Percentage is 96.6%

Finally, the Median Sold Price is $555,000

Overall, these metrics show that there is a healthy level of supply and demand in the market, with homes selling relatively quickly and close to their listing price. Buyers and sellers should pay attention to these trends to make informed decisions in the real estate market.

ORANGE BEACH

The Months Supply of Inventory is at 9.2

The 12-Month Change in Months of Inventory is at +51.57%

The Median Days Homes are On the Market is 67

The Sold to List Price Percentage is at 96.1%

The Median Sold Price is $674,250

When we look at these metrics together, we can see that there is a relatively high inventory level compared to demand, as indicated by the Months Supply of Inventory and the 12-Month Change in Months of Inventory. This could potentially lead to longer days on the market and more negotiating power for buyers.

On the other hand, the Sold to List Price Percentage and the Median Sold Price suggest that sellers are still able to achieve a good percentage of their asking price, and homes are selling at a relatively high median price point.

Overall, these metrics paint a picture of a market that may be shifting towards favoring buyers, but with sellers still able to achieve good prices for their properties. Buyers may have more options to choose from, while sellers may need to price competitively and be prepared for potentially longer days on the market.

FOLEY

The Months Supply of Inventory is at 3.89,  coming in lower than Baldwin County overall and significantly lower than Gulf Shores and Orange Beach. 

The 12-Month Change in Months of Inventory is at +65.53%

The Median Days Homes are On the Market is 65

The Sold to List Price Percentage is at 97.9%

The Median Sold Price is $305,495

Overall, these metrics suggest a market that is somewhat balanced or leaning towards a buyer's market, with homes taking a bit longer to sell compared to the previous year. However, the Sold to List Price Percentage indicates that sellers are still able to achieve close to their asking price. As a buyer or seller, it's important to consider these factors when making real estate decisions in the current market.

How do the current market conditions effect your real estate plans?  I'm always just a phone call away to discuss your plans or specifics regarding your needs or goals.