Interest Rate Effect
Analysis of Mortgage Interest Rates & Real Estate Activity
I have analyzed the relationship between mortgage interest rates and real estate activity in our market using data from Baldwin Realtors MLS, covering the period from January 1, 2021, to the present. This study focuses on single-family detached housing, with interest rates rounded for simplicity. The findings represent the entire MLS area, not just South Baldwin.
In a future blog, I will examine condo sales to determine whether there is a noticeable difference in trends.
Key Findings:
In the next blog, I will explore condo sales and inventory levels to gain additional insights into market trends.
| Number of Closings | Days on the Market | Median Selling Price | 30 yr Mortgage Interest Rate | ||
| Jan-21 | 493 | 21 | $245,000.00 | 3% | |
| Feb-21 | 576 | 23 | $260,000.00 | 3% | |
| Mar-21 | 788 | 13 | $264,000.00 | 3% | |
| Apr-21 | 701 | 8 | $275,000.00 | 3% | |
| May-21 | 727 | 8 | $267,000.00 | 3% | |
| Jun-21 | 968 | 5 | $280,000.00 | 3% | |
| Jul-21 | 767 | 6 | $289,000.00 | 3% | |
| Aug-21 | 727 | 8 | $285,000.00 | 3% | |
| Sep-21 | 784 | 8 | $280,000.00 | 3% | |
| Oct-21 | 629 | 10 | $287,000.00 | 3% | |
| Nov-21 | 623 | 10 | $300,000.00 | 3% | |
| Dec-21 | 742 | 10 | $310,000.00 | 3% | |
| Jan-22 | 557 | 14 | $290,000.00 | 3% | |
| Feb-22 | 617 | 12 | $312,000.00 | 4% | |
| Mar-22 | 814 | 10 | $321,000.00 | 4% | |
| Apr-22 | 712 | 9 | $322,000.00 | 5% | |
| May-22 | 779 | 7 | $315,000.00 | 5% | |
| Jun-22 | 705 | 7 | $329,000.00 | 5% | |
| Jul-22 | 642 | 7 | $330,000.00 | 5% | |
| Aug-22 | 633 | 11 | $331,000.00 | 5% | |
| Sep-22 | 637 | 12 | $330,000.00 | 6% | |
| Oct-22 | 480 | 17 | $330,000.00 | 7% | |
| Nov-22 | 478 | 21 | $330,000.00 | 7% | |
| Dec-22 | 483 | 31 | $345,000.00 | 6% | |
| Jan-23 | 387 | 35 | $314,000.00 | 6% | |
| Feb-23 | 471 | 40 | $329,000.00 | 6% | |
| Mar-23 | 635 | 28 | $338,000.00 | 7% | |
| Apr-23 | 525 | 23 | $335,000.00 | 6% | |
| May-23 | 634 | 21 | $342,000.00 | 7% | |
| Jun-23 | 736 | 23 | $342,000.00 | 7% | |
| Jul-23 | 576 | 26 | $340,000.00 | 7% | |
| Aug-23 | 675 | 27 | $343,000.00 | 7% | |
| Sep-23 | 619 | 27 | $339,000.00 | 8% | |
| Oct-23 | 476 | 27 | $343,000.00 | 7% | |
| Nov-23 | 420 | 29 | $341,000.00 | 7% | |
| Dec-23 | 422 | 33 | $335,000.00 | 7% | |
| Jan-24 | 405 | 44 | $329,000.00 | 7% | |
| Feb-24 | 443 | 37 | $343,000.00 | 7% | |
| Mar-24 | 601 | 36 | $335,000.00 | 7% | |
| Apr-24 | 571 | 29 | $342,000.00 | 7% | |
| May-24 | 643 | 33 | $356,000.00 | 7% | |
| Jun-24 | 683 | 35 | $348,000.00 | 7% | |
| Jul-24 | 628 | 41 | $340,000.00 | 6% | |
| Aug-24 | 577 | 34 | $342,000.00 | 6% | |
| Sep-24 | 515 | 36 | $336,000.00 | 7% | |
| Oct-24 | 539 | 40 | $335,000.00 | 7% | |
| Nov-24 | 471 | 45 | $322,000.00 | 7% | |
| Dec-24 | 527 | 46 | $340,000.00 | 7% | |
| Jan-25 | 414 | 56 | $337,000.00 | 7% | |
| Feb-25 | 438 | 54 | $338,000.00 | 7% | |
| Mar-25 | 582 | 40 | $348,000.00 | 7% | |
| Apr-25 | 657 | 41 | $338,000.00 | 7% | |
| May-25 | 715 | 40 | $340,000.00 | 7% |
Analysis of Mortgage Interest Rates & Real Estate Activity
This is the market recap for the fifth month of 2025.
This is the market recap for the fourth month of 2025.
Looking Back
This is the market recap for the third month of 2025.
This is the market recap for the second month of 2025.
This is the market recap for the first month of 2025.
If you are thinking about buying a house or condo, THINGS HAVE CHANGED!
This is the market recap for the twelfth month of 2024.
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