For the last several months, the total number of home sales has been decreasing in Baldwin County, as interest rates have increased. At the same time, prices have continued to increase.
But some real estate agents aren’t panicking, as they say the current market is closer to what was considered normal in the county before the pandemic.
“What has happened in the past two years isn’t normal,” Rachel Romash-Reese, the incoming president of Baldwin Realtors, the real estate association in the county, said. “The market is normalizing and getting back to stable.”reflects trends that have been in play for several months: the total number of residential sales in the county during the month of October was 368, a 19.8% decrease from the year before. The total number of resort/island-based property sales in the county was 130, a 45.
The number of days on the market has also increased for residential properties. The average number of days on the market increased from 24 in October 2021 to 36 in October 2022 for residential properties in the county. For resort properties, the average number of days on the market increased from 29 to 52 over the same time period.
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