Real Estate Data Feb 2018

The numbers are out!  Below you will find the major cities and real estate markets in Baldwin County AL, including information on both, Sold and Active homes.  You’ll see average prices, how many days on the market, average price per square foot, and the ratio of selling price to listing price.  

All of the figures below are generated from the real estate activity from Baldwin County in February 2018 for the cities of Orange Beach, Gulf Shores, Foley, Fairhope, Daphne, and Spanish Fort.  This data does not include real estate sales from the smaller towns of the county.

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Baldwin County Real Estate Update - Feb 2018

Baldwin County Real Estate - Feb 2018

Homes Sold in Baldwin County

ORANGE BEACH REAL ESTATE

Single Family Homes

  • 18 homes were sold
  • Average list price – $625,371
  • Average selling price – $582,274
  • Selling to listing ratio – 95%
  • Average days on the market – 163
  • Price per square foot – $196
  • Average square feet of homes sold – 2,826

Condos

  • 49 condos were sold
  • Average list price – $503,553
  • Average selling price – $482,487
  • Selling to listing ratio – 96%
  • Average days on the market – 110
  • Price per square foot – $326
  • Average square feet of condos sold – 1,478

GULF SHORES REAL ESTATE

Single Family Homes

  • 29 homes were sold
  • Average list price – $364,211
  • Average selling price – $348,150
  • Selling to listing ratio – 96%
  • Average days on the market – 155
  • Price per square foot – $182
  • Average square feet of homes sold – 2,021

Condos

  • 55 condos were sold
  • Average list price – $290,132
  • Average selling price – $276,201
  • Selling to listing ratio – 96%
  • Average days on the market – 64
  • Price per square foot – $248
  • Average square feet of condos sold – 1,136

FOLEY REAL ESTATE

  • 39 homes were sold
  • Average list price – $198,222
  • Average selling price – $194,816
  • Selling to listing ratio – 98%
  • Average days on the market – 94
  • Price per square foot – $101
  • Average square feet of homes sold – 1,950

FAIRHOPE REAL ESTATE

  • 46 homes were sold
  • Average list price – $500,893
  • Average selling price – $469,910
  • Selling to listing ratio – 97%
  • Average days on the market – 96
  • Price per square foot – $170
  • Average square feet of homes sold – 2,532

DAPHNE REAL ESTATE

  • 50 homes were sold
  • Average list price – $264,732
  • Average selling price – $259,457
  • Selling to listing ratio – 98%
  • Average days on the market – 107
  • Price per square foot – $106
  • Average square feet of homes sold – 2,408

SPANISH FORT REAL ESTATE

  • 30 homes were sold
  • Average list price – $309,256
  • Average selling price – $297,823
  • Selling to listing ratio – 98%
  • Average days on the market – 132
  • Price per square foot – $117
  • Average square feet of homes sold – 2,471

Who says that homes don’t sell in February?  316 single family homes and condos sold last month for the major cities of Baldwin County.    And, that doesn’t even include the smaller towns of the county, commercial, or land sales.  You can tell by looking at the selling to listing ratio that Baldwin is still in a buyer’s market with buyers getting anywhere from 95% to 98% off the list price depending on what city you’re in.

With an average of over 11 closings every single day in February, I would say that the market is hot in Baldwin County.

Recap based on November’s statistics:

  • If you’re buying a condo at the beach, units in Gulf Shores are selling for $78 less per square foot (on average) than their sister city, Orange Beach.
  • Are you wanting to buy a single family home near the Gulf Coast?  Foley homes are selling for about $90 a foot less than those in Gulf Shores and Orange Beach.
  • For single family homes on the Eastern Shore, Daphne homes are the least expensive selling at $106 per foot, followed by Spanish Fort and then Fairhope at $170 per foot.
  • For single family homes, Foley has the best deal at $101 per foot followed closely by Daphne at $106.

Understand that in this article I’m only covering the 6 major cities of Baldwin County.  Towns like Robertsdale, Loxley, or Elberta may even be a better deal.  Contact me for the figures.  

Real Estate and Community Guides for:

Spanish Fort
Daphne
Fairhope
Foley
Gulf Shores
Orange Beach

Residential real estate sold Baldwin County Feb 2018

Click on the image above to use this interactive stat maker.  Click then scroll down.

Homes for Sale Baldwin County

ORANGE BEACH REAL ESTATE

Single family homes

  • 180 homes for sale
  • Average list price – $642,490
  • Average price per square foot – $365
  • Average days on the market – 156
  • Median house size – 2,010

Condos

  • 326 condos for sale
  • Average list price – $585,819
  • Average price per square foot – $345
  • Average days on the market – 152
  • Median condo size – 1,582 square feet

GULF SHORES REAL ESTATE

Single family homes

  • 296 homes for sale
  • Average list price – $512,939
  • Average price per square foot – $222
  • Average days on the market – 192
  • Median house size – 2,197 square feet

Condos

  • 328 condos for sale
  • Average list price – $447,466
  • Average price per square foot – $298
  • Average days on the market – 183
  • Median condo size – 1,300 square feet

FOLEY REAL ESTATE

  • 245 homes for sale
  • Average list price – $235,975
  • Average price per square foot – $124
  • Average days on the market – 94
  • Median house size – 1,875 square feet

FAIRHOPE REAL ESTATE

  • 324 homes for sale
  • Average list price – $515,674
  • Average price per square foot – $184
  • Average days on the market – 132
  • Median house size – 2,541 square feet

DAPHNE REAL ESTATE

  • 291 homes for sale
  • Average list price – $329,452
  • Average price per square foot – $122
  • Average days on the market – 111
  • Median house size – 2,439 square feet

SPANISH FORT REAL ESTATE

  • 159 homes for sale
  • Average list price – $327,583
  • Average price per square foot – $123
  • Average days on the market – 106
  • Median house size – 2,383 square feet

 

Overall Residential Report

TOTAL RESIDENTIAL SALES

For the month of February, there were a total of 410 sales for both single family homes and condos.  This is a 8.8% increase over homes that were sold in February of 2017.

Breakdown of sales:
 02/201702/2018
Single Family Homes215310
Condos122113
New Construction40100

MEDIAN SALES PRICES

Median = the middle value, out of all the home prices this is the price in the exact middle – not average.  Half of the prices are listed both above and below.

The median sales price has increased with a 8.3% gain from the same time last year.

Breakdown of median sale prices:
 02/201702/2018
Single Family Homes$186,165$235,000
Condos$245,000$330,000
New Construction$228,200$248,921
   

AVERAGE SALES PRICES

Average = taking the sum and dividing it by the number of prices.  The average sales price is 16.2% higher than February a year ago.

Breakdown of average sale prices:
 02/201702/2018
Single Family Homes$238,649$325,880
Condos$262,498$362,200
New Construction$245,794$283,989
   

DAYS ON THE MARKET

Days on the market is a great indicator of the pulse of the real estate market.  You can see here that demand is much larger this year than last year.  These numbers indicate a 43.5% decrease for time on the market.

Breakdown of time on the market:
 02/201702/2018
Single Family Homes14083
Condos19777
New Construction163133

TOTAL LISTINGS

There was only a 6.5% increase in total listings from a year ago.

Breakdown of listings:
 02/201702/2018
Single Family Homes1,7182,031
Condos903706
New Construction188731
   

INVENTORY TO SALES RATIO

Months of supply = the inventory for sale divided by the current monthy sales volume.  The real estate market is said to be equal at a 6 months supply.

Baldwin County has a 6.8 months supply which is a 2.0% decrease from a year ago. 

These numbers indicate signs that demand is overtaking supply, resulting in an eventual seller’s market.

For additional information about homes or condos that are for sale in Baldwin County, please contact me at:

Jeff Nelson
IXL Real Estate – Eastern Shore
251-654-2523
jeff@livegulfshoreslocal.com