Alabama Home Sales up 4.4% for April From One Year Ago

Baldwin County Up 4.12% From March 2019

ACRE’s statewide perspective: While nationwide residential sales dropped 1 percent in April, demand for housing in Alabama remained strong. Statewide residential sales increased 4.4 percent from 5,574 closed transactions in April 2018 to 5,820 in April 2019.

Year-to-date, sales increased 3.8 percent from 2018. Home price appreciation in the state continued to climb as the median sales price in April increased 3.2 percent year-over-year from $155,250 to $160,283. The statewide median sales price is also up 3.2 percent year-to-date.

Although nationwide inventory levels are trending upward, Alabama’s residential listings decreased 10.7 percent from one year ago. Low inventory levels were a significant factor contributing to rising sales prices throughout 2018 and in the spring buying season of 2019. With low inventory levels, it is not surprising to see homes selling more quickly than in previous years.

Homes selling in Alabama during April spent an average of 93 days on the market, an improvement of three days from April 2018. Source: Alabama News Center

While Baldwin County which host the cities of Gulf Shores, Orange Beach, Foley and Fairhope areas of the gulf coast came in with an increase in sales from March 2019 to April 2019 of 4.12%. Source:BCAR

The factors influencing these numbers are the historically low interest rates, the number of home buyers who have been waiting for inventory and the fact that the job market increase along with wages have allowed for the alignment of the home prices and earned income for potential buyers.

As a buyer and a seller the market is moving in the direction for a win-win for all parties.

The Ballard Sweat Team is always ready to help in any way we can. Give us a call at 251-948-1260

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