Baldwin County Monthly Comments 1/14/08


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Dollar sales in December declined 12% in to $54,758,582 from Novembers’ $62,197,451 (see page A-1). On a unit basis, unit sales of used houses increased by 9% to 187vs. 171 last month. New house unit sales were down by 2 (3.5%) to 55 for the month of December from 57 in November (sect A p 17 ).

New listings for new houses decreased in December to 102 from 175 in November. Reflecting the long lead time (and withdrawn and relisting by frustrated sellers) for some developments, new listings are running at 2 times the rate of sales of new houses in spite of the now extended sales slump. (Chart section C page 1 And Table sect A p17). Used house new listing decreased to 496 this month from 602 in November.

Average sales prices for New units decreased to $264,924 from $277,074 last month. There were 14 New houses sold over $500,000 in December which is much a much bigger number than last month, which only had 6 (out of 404 active listings including 102 new listings!) See page A-14. The average Used house price decreased to $214,908 from $271,370 in November.

There were 4938 used houses active in December, a large decrease from a 5428 in November. There were 1341 new houses active in December a decrease from 1473 in November. The Absorption rate for new houses 15.7 months of inventory for December vs. 16.2 in November.  The Absorption rate for used houses improved modestly to 19.4 months of inventory for December vs. 21.1 in November. See section A page 17.

  

TWB 1/14/2008

  *All references to last month numbers are revised, to pick up late entries (made after our prior publication date) to the MLS system.

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