Realty Executives Gulf Coast
Realty Executives Gulf Coast
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Gulf Coast Beach Condos are in High Demand
If you’ve been contemplating buying a condo along the Alabama coast, I encourage you to purchase one soon. Much like the temperatures across the nation, the demand for beach condos in Gulf Shores, Orange Beach and neighboring Perdido Key in Florida continues to rise.
According to the Alabama Center for Real Estate at the University of Alabama, condo sales in June 2016 were up 7% compared to the same time last year and up a whopping 31% versus June 2011. This is putting increasing pressure on condo inventory. As of June, we had about a 5-month supply of condos on the market. That means at the current sales rate, all available condos will be sold and off the market in five months. When you compare this with June of last year, inventory is down by almost 25%!
Many prospective buyers (you?) may see this as a bad sign and decide to sit out for now. I beg you to reconsider. While prices have been increasing, you can still find some great deals and MANY good deals directly on the beach or just a block or two away. While no one can predict the future, I anticipate that prices will continue to go up steadily as the area continues to grow and more and more retirees and families relocate here. If Gulf Shores, Orange Beach or Period Key are in your plans, don’t put off decisions you can make today to secure your dreams.
I’d like to highlight several condo developments.
The Dunes, Ft. Morgan
The Dunes Condominiums are located on the beautiful Fort Morgan Peninsula approximately 20 miles west from Highway 59 in Gulf Shores. A great family or retiree get-away, the Dunes is an affordable option that offers all the amenities of a beachfront resort. All units have a direct view of the Gulf. Prices of available units (1 to 5 bedrooms) range from $165,900 to $509,000.
Beach Life Condominiums, Gulf Shores
Still under construction, this low-density development sits just one block from the beach and is a short walk to restaurants and shops. It consists of four buildings with two condos apiece. Each condo will feature a 2-story design; 3 bedrooms and 3 baths; 1,560 square feet of living space; and covered balconies and parking. The development will feature a pool and other resort amenities while maintaining a more quiet town-home feel. You can secure the pre-construction price of $310,000 if you reserve today. Give me a call for more information.
Abaco, Gulf Shores
The beautiful, state-of-the-art 78-unit Abaco development is underway at 903 West Beach Boulevard. The only gated condo development in the city, Abaco will rise 24 stories and offer 3 bedroom & 3.5 bath units, with only 4 units per floor. To date, 30 units have been reserved.
Club Level units on floors 5 and 17-23 are offered with added benefits, such as preferred parking, private coded floor access (on the 5th floor), and upgraded luxury interior. Penthouses enjoy the same benefits. Prices of available units range from $750,000 to $775,000 with potential annual rental income of more than $70,000 based on similar properties.
Vista Del Mar, Perdido Key, Florida
Destroyed by Hurricane Ivan in 2004, the Vista Del Mar is rising up again on Perdido Key. With sweeping views of the Gulf of Mexico and the Gulf Islands National Seashore, this 9-story 64 unit development will offer the best in luxury beach living. Only 11 units remain with pricing starting at $785,000.
This is only a sampling of condos available along our beautiful coastline. I would be happy to help you find your dream condo. But, don’t wait too long!
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.