Baldwin County Residential Report October 2018

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Norah Briggs
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Baldwin County Residential Report October 2018 Monthly Indicators Recent Figures Trends Total Residential Sales Current Month October 2018 548 Baldwin residential* sales during the vs.

1 Baldwin County Residential Report October 2018 Monthly Indicators Recent Figures Trends Total Residential Sales Current Month October Baldwin residential* sales during the vs. Prior Month September % current month totaled 548 units, vs. Last Year October % representing an increase of 11.6 percent vs. 5-Yr Avg October 13-' % from one year ago. By Product Type (% of Total Sales) Existing SF: 334 (61%) 259 (52%) Condo: 114 (21%) 113 (23%) New Const. 100 (18%) 118 (25%) *Residential = existing single family, condo, & vs. Peak October % vs. Trough October % Year to Date October ,910 vs.prior Year October , % Baldwin County: Total Residential Sales Historical data indicates that October residential sales on average ( 13-17) increase.5 percent from September. The current month's sales decreased 1.8 percent from the previous month." Historical Home Sales October Graph: October October (By month) October October October Year Avg: Year Avg: 462 Median Sales Price Current Month October ,300 The median sales price in Baldwin vs. Prior Month September , % County during the current month was vs. Last Year October , % $239,300, a 4.0 percent increase from vs. 5-Yr Avg October 13-'17 206, % one year ago. By Product Type (Y-O-Y Comparison) Existing SF: $222,000 $199,700 Condo: $329,500 $313,000 New Const: $240,830 $239,005 Year to Date October ,438 vs.prior Year October , % Median Peak October , % Trough October , % Baldwin County: Median Sales Price $250,000 $230, ,000 $210,000 $1,000 $170, ,000 $, ,300 Historical Median Selling Price Graph: October Historical data indicates that October median sales prices October ,000 (By month) on average ( 13-17) increase 1.0 percent from September. October ,000 The current month's median price decreased.4 percent from the previous month." October ,500 October ,850 October , Year Avg: 206, Year Avg: 218,167

2 Monthly Indicators Recent Figures Trends Average Sales Prices Current Month October ,449 The average sales price in Baldwin vs. Prior Month September , % County during the current month was vs. Last Year October , % $297,449, a 9.4 percent increase from one year ago. vs. 5-Yr Avg October 13-'17 263, % By Product Type (Y-O-Y Comparison) Existing SF: $280,010 $252,341 Condo: $374,486 $327,734 New Const: $267,871 $258,826 Year to Date October ,805 vs.prior Year October , % Average Peak October , % Trough October , % Baldwin County: Average Sales Price $330, ,376 $310, ,449 $2,000 $270,000 $250,000 $230,000 $210, ,377 $1,000 Historical data indicates that October average sales prices on Historical Average Selling Price Graph: October (By month) average ( 13-17) increase 4.6 percent from September. The October ,929 current month's average price decreased 6.0 percent from the October ,051 previous month." October ,972 October ,717 October ,679 5-Year Avg: 263, Year Avg: 272,317 Days on Market (DOM) Current Month October 2018 The average number of days on the market during the current month was, representing an improvement of 4 days from one year ago. By Product Type (DOM Comparison) Existing SF: Condo: New Const: vs. Prior Month September % vs. Last Year October % vs. 5-Yr Avg October 13-' % Year to Date October vs.prior Year October % Baldwin County: Average Days on Market Historical Average DOM Graph: October The 5-year DOM average ( 13-17) for the month of October is 140 days, which is 50 days more than current results. Average DOM is anticipated to remain within the current range ( days) for the foreseeable future. October (By month) October October October October Year Avg: 140

Monthly Indicators Recent Figures Trends Total Units Listed for Sale Current Month October 2018 2,878 vs. Prior Month September 2018 2,839 1.4% vs. Last Year October 2017 2,866 0.4% vs. 5-Yr Avg October 13-'17 2,915-1.

By Product Type (Inv, Comparison) Existing SF: 1561 1797 Condo: 725 721 New Const.: 592 868 Inventory Peak October 2008 5,284-45.5% Trough October 2016 2,770 3.

3 Monthly Indicators Recent Figures Trends Total Units Listed for Sale Current Month October ,878 vs. Prior Month September , % vs. Last Year October , % vs. 5-Yr Avg October 13-'17 2, % Baldwin County residential units available for sale during the current month increased by 12 units from one year ago. By Product Type (Inv, Comparison) Existing SF: Condo: New Const.: Inventory Peak October , % Trough October , % 5,800 5,284 5,300 4,800 4,300 3,800 3,300 2,770 2,878 2,800 2,300 Baldwin County: Total Homes Listed Historical data indicates that October inventory on average ( 13-17) decreases 4.6 percent from August. The current month's inventory decreased.5 percent from the previous month." Historical Total Units Listed Graph: October October ,866 (By month) October ,770 October ,960 October ,078 October ,899 5-Year Avg: 2,915 Inventory-to-Sales Ratio Current Month October The inventory for sale divided by the current monthly sales volume equals the # of months of supply (market considered to be in balance at approximately 6 months). Baldwin County currently has 5.3 months of supply, down 10.0 percent from one year ago. vs. Prior Month September % vs. Last Year October % vs. 5-Yr Avg October 13-' % I/S Ratio Peak October % Trough October % Baldwin County: Months of Supply Historical I/S Ratio Graph: October "October's 5.3 months of supply is 24.1 percent below the 5- year average of 6.9 months of supply. Baldwin County's current housing inventory is.7 months below equilibrium, indicating a continued transition where sellers typically have elevated bargaining power." October (By month) October October October October Year Avg: Year Avg: 6.3 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 -

Baldwin County: Residential Sales and Inventory Sales 800 750 700 650 600 550 500 450 400 350 300 3,500 3,400 3,300 3,200 3,100 3,000 2,0 2,800 2,700 2,600 2,500 Inventory Baldwin Sales Baldwin

This report is compiled and brought to you by ACRE Research.

4 Baldwin County: Residential Sales and Inventory Sales ,500 3,400 3,300 3,200 3,100 3,000 2,0 2,800 2,700 2,600 2,500 Inventory Baldwin Sales Baldwin Inventory Baldwin County: Historical Residential Sales and Inventory Sales ,000 5,500 5,000 4,500 4,000 3,500 3,000 2,500 2,000 Inventory Baldwin Sales Baldwin Inventory 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.

Average Days on the Market and Median Sales Price Average Days on Market 1 170 130 110 70 50 260,000 240,000

5 Average Days on the Market and Median Sales Price Average Days on Market , , , , , , , , ,000 Median Sales Price Baldwin DOM Baldwin Median Sales Price

Huntsville Residential Report October 2018

Huntsville Residential Report October 2018 Monthly Indicators Recent Figures Trends Total Residential Sales Current Month October 2018 612 Huntsville residential* sales for the current month totaled 612