ROBERTSDALE, Ala. – A mixture of higher mortgage rates, a continuing increase in sales prices, and other inflation factors cooled down the Baldwin County housing market in 2023 and created a more level playing field for buyers and sellers. Baldwin REALTORS® Multiple Listing Service (MLS) reports the Average Days on Market (DOM) in 2023 nearly doubled from the year prior, increasing by 78.8%, giving buyers more time to make decisions, and total sales volume decreased by over $500 million.
Additional declining trends seen in Baldwin County’s 2023 housing market data include new inventory and total properties sold. The total amount of residential new listings with effective dates in 2023 was 9,670 properties, compared to 10,217 in 2022. A total of 6,868 properties sold in Baldwin County last year, which was an over 1,400-unit decrease from the year prior’s 8,312 properties sold.
Positively, Baldwin County’s average sales price continued to increase in 2023, generating more equity for property owners and investors. The average sales prices of residential properties sold in Baldwin County increased by 4.7% to $492,534. The average sales price was $470,491 in 2022.
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