Christine Slaughter
Broker Associate
Realty Executives Gulf Coast
For Baldwin County, Alabama (the 12th fastest-growing county in the country, according to the U.S. Census Bureau), residential real estate continues to be in demand. 2015 figures across the board reflect a a strong upward trend that shows few signs of abating.
All Residential Sales in Baldwin County
According to the Alabama Center for Real Estate at the University of Alabama’s Culverhouse College of Commerce, residential sales in 2015 surpassed 2014 by 12 percent (5,230 units sold in 2015 versus 4,669 in 2014). To boot, the medium sales price last year was $205,584, or 6.1 percent higher than 2014's price of $197,488. When compared to the 5-year average (2010-2014), these numbers jump to 32.4 percent and 19.5 percent respectively!
At the same time, the inventory-to-sales ratio, a key measure which tells us the number of months of supply, fell by 12 percent in 2015 when compared to 2014. A lower ratio - fewer months of supply - tells us the demand for housing is healthy. A higher ratio signifies that demand is cooling off.
All Condo Sales in Baldwin County
Buyers purchased 1,559 condos in 2015 up from 1,408 condos in 2014, or a 10.7 percent increase. The 2015 medium sales price was $257,273 versus $245,269, an increase of 4.8 percent.
Of these, buyers purchased approximately 753 Gulf-front condos. Key statistics (by number of bedrooms and list price) behind these waterfront sales are as follows:
| LIST PRICE | <$150K | $151-$200K | $201-$250K | $251-$300K | $301-$400K | $401K+ |
ONE (1) BEDROOM |
||||||
| # of Units Sold | 30 | 23 | 45 | 37 | 7 | |
| Medium Sales Price | $124,375 | $170,000 | $227,000 | $255,000 | $352,000 | |
| Sale Price as % of List Price | 95.66% | 95.99% | 96.07% | 96.11% | 97.29% | |
| Average Price per Square Foot | $219.50 | $279.66 | $327.59 | $338.75 | $405.71 | |
| Average Days on Market | 112.5 | 105 | 68 | 54 | 31 | |
TWO (2) BEDROOM |
||||||
| # of Units Sold | 3 | 1 | 9 | 16 | 6 | |
| Medium Sales Price | $185,000 | $222,000 | $265,000 | $336,000 | $419,500 | |
| Sale Price as % of List Price | 92.98% | 96.52% | 96.2% | 95.48% | 96.12% | |
| Average Price per Square Foot | $237.27 | $222 | $279.37 | $301.04 | $309 | |
| Average Days on Market | 163 | 47 | 78 | 129 | 167 | |
| LIST PRICE | $300-400K | $401-$450K | $451-$500K | $501-$600K | $601-$700K | $701-$800+ | $801+ |
THREE (3) BEDROOM |
|||||||
| # of Units Sold | 84 | 87 | 42 | 29 | 25 | 11 | 12 |
| Medium Sales Price | $356,500 | $412,000 | $453,500 | $530,000 | $625,000 | $700,000 | $950,000 |
| Sale Price as % of List Price | 96.62% | 96.42% | 96.05% | 95.63% | 96.95% | 95.46% | 96.13% |
| Average Price per Square Foot | $275 | $296.43 | $291 | $313.04 | $330.28 | $348.39 | $410 |
| Average Days on Market | 137.5 | 106 | 134.5 | 100 | 160 | 79 | 163.5 |
| LIST PRICE | $450-600K | $601-$750K | $751-$900K | $901K-$1.2M | $1.2M + |
Four (4) BEDROOM |
|||||
| # of Units Sold | 4 | 14 | 8 | 13 | 12 |
| Medium Sales Price | $510,000 | $657,500 | $752,500 | $930,000 | $1,4M |
| Sale Price as % of List Price | 96.83% | 95.47% | 94.08% | 95.85% | 97.90% |
| Average Price per Square Foot | $246.50 | $279 | $338.50 | $358.20 | $400 |
| Average Days on Market | 289 | 188.5 | 281.5 | 109 | 302 |
To see currently-available waterfront condos, just click on the links below:
Orange Beach Condos and Gulf Shores Condos
Just give me a call at (251) 942-3141 for more information or to view a property.
***
Christine Slaughter is an associate real estate broker with Realty Executives of Gulf Shores, Alabama. Originally from Australia (she moved to Alabama’s stunning coast nearly 30 years ago), her love of the sand, sun and seafood are deeply-rooted in her soul. If you are looking to buy or sell along the Alabama coast (or Florida), you can reach Christine directly at (251) 942-3141 or email her at Christine@ChristineSlaughter.com.
Be sure to follow Christine online at ChristineSlaughter.com, on Twitter@ChristinesCoast or Facebook at ChristineSlaughterRealtor. Let Christine help you catch the real estate wave in 2016!
