Living up to the “Roaring ’20s” narrative for the new decade, in terms of housing supply and demand for one of the nation’s hottest home markets, the newly released Baldwin County Association of Realtors (BCAR) Housing Report for January 2020 activity did not disappoint.
Some of the more attention-grabbing numbers centered on total properties sold last month, with an increase of nearly 27 (26.8) percent as compared to last year. Most impressive, however, were sales volume numbers that skyrocketed up nearly 35 percent (34.9) versus last year. January 2020 sales volume totaled $158,035,680. January 2019 numbers came in nearly $41 million less, at $117,184,277.
Additionally, the Baldwin Realtors’ Multiple Listing Service (MLS) reported the total amount of residential, active inventory in January 2020 was 2,793 units, compared to 3,027 in 2019. A total of 492 properties sold last month versus 388 in January 2019.
The average sales price of residential units in Baldwin County last month increased more than 6 percent, to $321,210, compared with the same period last year where the average sales price was $302,021.
Listing movement on the market also accelerated from the decade prior, dropping five days in 2020 with an average of 89 days versus 94 for 2019.
One final observation was found in North Baldwin County. Typically, one of the more affordable areas of Baldwin County, the region had the least-reported inventory combined with the shortest days on market, but was also the only sector that saw a drop in average home prices from last year.
Here are residential MLS statistics broken down by area:
Residential properties sold in January 2020: 100
Average sales price: $220,873
Average days on market: 84
Average sales price change from January 2019: increased 15.2 percent
Residential properties sold in January 2020: 98
Average sales price: $444,503
Average days on market: 101
Average sales price change from January 2019: increased 4.2 percent
Residential properties sold in January 2020: 67
Average sales price: $421,358
Average days on market: 107
Average sales price change from January 2019: increased 11 percent
Residential properties sold in January 2020: 143
Average sales price: $304,505
Average days on market: 82
Average sales price change from January 2019: increased 19.9 percent
North Baldwin County
Residential properties sold in January 2020: 18
Average sales price: $151,188
Average days on market: 63
Average sales price change from January 2019: decreased 2.3 percent
BCAR provides resources, education and tools to over 2,300 professionals across the region. More information about the January 2020 Housing Report can be found by visiting baldwinrealtors.com.
Business moves, transactions
One of the largest private land deals in Baldwin County, involving the Belle Fountain property, was recently completed, according to Tim Herrington of Herrington Realty, who represented the sellers in the transaction.
The site’s portfolio includes some 9,000 acres of raw timber, as well as a section of recreational land located within the central section of the site. Per a news release, prior to the sale the acreage had remained within multiple generations of the same local family for nearly a century.
The details of the deal involved offloading some 4,339 acres for around $13.1 million, with the remainder to be set aside and deeded in about 36 months, according to Herrington. Most of the undeveloped property is found near or around the intersection of Interstate 10 and County Road 87.
To date, the new owners have not divulged any imminent or future development plans for the massive tract of land.
“The buyers have no immediate plans and will continue at this time to be good stewards of the land, using timber and wildlife management plans in what can only be described as the ‘final frontier’ in Baldwin County,” Stacey Ryals, the managing partner for the new owners, said. Ryals Realty represented the buying group.
Philadelphia, Pennsylvania-based goPuff, a snacks and convenience items delivery and storage service company, recently leased some 5,500 square feet of floor space at 316 Dauphin St. in downtown Mobile. It is located adjacent to locally owned Spot of Tea eatery.
Established five years ago, customers can also order related products via a goPuff app for delivery in over 150 markets, which now includes Lower Alabama per its website. Josh W. Hall and Niki Coker with NAI Mobile brokered the lease transaction.
A 2,800-square-foot former Centennial Bank property located at 28720 U.S. Hwy. 98 in Daphne recently held a grand opening for a newly repurposed and locally owned pharmacy and wellness center called By the Bay Pharmacy + Wellness.
The local co-owners are Christina Bond and Sarah Siefert, both licensed pharmacists. Sonny Nichols with Berkshire Hathaway Home Services handled the lease transaction for the property. Hours of operation are 8:30 a.m. to 5:30 p.m., Monday through Friday, and 9 a.m. to noon on Saturday.
A South Florida investor has acquired Brewton Shopping Center, a roughly 72,000-square-foot retail center situated on eight acres at 2041 Douglas Ave. in Brewton. The center is reportedly now 100 percent leased with anchor tenants Roses, Dirt Cheap and Farmers Home Furniture. Andrew Dickman with the local Stirling Properties office, along with Phil Kates of Birmingham-based CBRE, handled the transaction.
T-Mobile has leased 10,000 square feet of office space inside the 10-story Montlimar Place office tower located at 1110 Montlimar Drive. They will be using the site for their engineering division. Allen Garstecki and Guy Oswalt of JLL represented T-Mobile. Tommy Gleason with NAI Mobile worked for the landlord. NAI Mobile also manages the property.
Kentucky Mist Distillery has leased some 2,395 square feet of retail space at The Wharf in Orange Beach. The company will be located on Wharf Parkway in Suite F109 and is anticipated to open in April 2020. Jeff Barnes and Steadman Bethea, investment advisors with Stirling Properties, handled the transaction.
Jay O’Brien with J. L. O’Brien & Associates Inc. recently reported the sale of a 9.1-acre tract to Sacred Heart for $3.295 million on Hwy. 98 in Navarre, Florida, next to the Walmart Neighborhood Market. Sacred Heart will be developing a free-standing ER and a medical office building on the property.
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