Beach area real estate feels the impact of COVID-19 pandemic
Baldwin Realtors • April 7, 2020
Residential properties in county get boost over 2019
Robertsdale, AL – (OBA®) – While the total number of properties sold in March 2020 for traditional residential properties increased, the resort/island-based properties saw a decline in comparison to March 2019. Baldwin REALTORS® Multiple Listing Service (MLS) reports a total of 453 properties sold last month for traditional residential, compared to 384 in March 2019.
Conversely, in the resort area, a total of 200 properties sold last month compared to 225 in March 2019. Additionally, March’s average sales price for resort area was $427,930 – a 7.3 percent decrease to $461,851 in 2019.
While the resort area shows more signs of impact from the current COVID-19 pandemic, traditional residential properties continue to display positive reporting. Along with the 18 percent increase in properties sold, traditional residential properties also saw a significant decrease in days on market. While houses averaged 100 days on market in March of 2019, this past month saw an average of 69 days – a 31 percent decrease in time. The average sales price also increased to $260,704 from $240,563 in March 2019.
For resort area, listings remained on market slightly longer than the year prior. The average days on market for this area of the county reported at 97 this past month, compared to 94 days in March 2019. Overall, Resort area took a hit when combining days on market statistics with decreases in average sales price and properties sold.
Residential MLS stats by area:
Central Baldwin
• Residential Properties sold in March 2020: 164
• Average Sales Price: $211,321
• Average Days on Market: 88
• Average Days on Market Change from March 2019: Increased 30.5 percent
Coastal Condos
• Residential properties sold in March 2020: 127
• Average sales price: $392,027
• Average days on market: 80
• Average days on market change from March 2019: Decreased 10.2 percent
Coastal Homes
• Residential properties sold in March 2020: 104
• Average sales price: $442,663
• Average days on market: 115
• Average days on market change from March 2019: Decreased 4.9 percent
Eastern Shore
• residential properties sold in March 2020: 227
• average sales price: $300,525
• Average days on market: 76
• Average days on market change from March 2019: Increased 3.2 percent
North Baldwin
• Residential properties sold in March 2020: 28
• Average sales price: $210,226
• Average days on market: 70
• Average days on market change from March 2019: Increased 47.8 percent
About Baldwin REALTORS®
Baldwin REALTORS® is the source for real estate in Southern Alabama. We provide resources, education and tools to over 2,300 professionals across the region. We work to protect the interests of property owners, and our members serve buyers and sellers as REAL Advocates, Advisors, and Experts. Realtors agree to abide by a strict code of ethics and are held to a high ethical standard by their peers through their association membership. The term Realtor is a federally registered trademark owned by the National Association of REALTORS® and denotes membership in the Nonprofit Association.
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