What's Up With the Baldwin County Housing Market? (And What It Means for YOU!)

What's Up With the Baldwin County Housing Market? (And What It Means for YOU!)

Hey Baldwin County! If you're thinking of buying or selling a home here, you've probably noticed things feel a little different lately. No more crazy bidding wars, and homes seem to be hanging around on the market for a bit longer. So, what's the deal? Let's break it down.

The Big Picture: It's a Shift!

For a while, if you were selling a home, it felt like a super-fast race where buyers were practically throwing money at you. Those days are largely behind us. The market in Baldwin County (that's everything from Gulf Shores to Daphne and everywhere in between) has shifted.

Think of it like this:

• Before: We were in a "Seller's Sprint" – sellers had all the power.

• Now: We're settling into a more balanced "Buyer's Stroll" – buyers have more options and more time.

What Does This Mean for SELLERS?

If you're looking to sell your home, here's what you need to know:

1. Your Home Might Sit a Little Longer: Remember when homes sold in a weekend? Not so much anymore. On average, homes are now taking roughly 80 days to sell across Baldwin County. That's about two and a half months. Down on the coast (Gulf Shores, Orange Beach), it can even be longer, around four months. So, patience is key!

2. Prices Are Evening Out (or Dipping): We've seen prices either level off or even come down a bit from their peak. The average price in Baldwin County is now around $577,269. This means buyers aren't as willing to overpay, and most homes (around 7 out of 10!) are selling for less than their original asking price.

   • Your takeaway: Price your home realistically from day one. An experienced local agent can help you hit that sweet spot.

3. More Competition: There are simply more homes for sale right now than there were a year ago – about 20% more! This means your home needs to stand out.

   • Your takeaway: Make sure your home looks its absolute best, consider any minor repairs, and work with your agent on great photos and marketing.

What Does This Mean for BUYERS?

Good news for you, house hunters!

1. More Homes to Choose From: Hooray for options! You're not limited to just a handful of homes anymore. There are plenty more houses on the market, giving you more choices to find the perfect fit.

2. More Time to Decide: No more frantic, split-second decisions! Homes are staying on the market longer, so you have more breathing room to tour houses, think things over, and make a confident offer.

3. Negotiating Power! This is a big one. Because there are more homes and less frantic competition, you, as the buyer, have more power to negotiate. You're more likely to get a deal closer to what you want, and many homes are selling for below their original asking price.

4. Still Think About Interest Rates: While prices are more favorable, remember that mortgage interest rates are still higher than they were a couple of years ago. Make sure you talk to a lender to understand what you can comfortably afford. There are also options like rate buy downs and you're agent/lender can talk to you about this option.

The Bottom Line for Everyone:

The Baldwin County real estate market is settling into a more normal rhythm. It's less frantic, more balanced, and gives both buyers and sellers a chance to make well-thought-out decisions.

For Sellers: Be patient, price smartly, and make your home shine!

For Buyers: Take your time, enjoy the choices, and don't be afraid to negotiate!

Whether you're buying or selling, working with a local real estate expert who understands these shifts is more important than ever. They can guide you through the process and help you achieve your goals in this new market.

Call 251.626.6371 to speak with one of our agents here at ARK Real Estate!