Christine Slaughter
Broker Associate
Realty Executives Gulf Coast
Are You Catching The Wave Yet?
What an amazing year it’s been so far! The pace of real estate activity along Alabama’s Gulf Coast is keeping with what many had predicted for 2016. Demand continues to rise as inventory declines even further. This is good news if you’ve been contemplating putting your house or condo on the market. Now is the time. It’s also a good time to consider purchasing as we continue to see a rise in home property values. So I ask you, “Are you catching the real estate wave yet?”
The growth in the real estate market is keeping pace with all the business activity in our area, particularly in Orange Beach, Gulf Shores and Foley. With new hotels, condo developments, small businesses and infrastructure improvements, more and more visitors are planting semi-permanent roots (think second homes) in our beautiful neighborhoods; others are relocating here altogether (think full-timers like families and retirees).
If you drive around Orange Beach, you can’t help but notice some of the activity. At the Wharf, construction on the 132-room Springhill Suites by Marriott (right next to the Orange Beach Event Center) is moving right along and is expected to open this summer.
Also at the Wharf, the big white tent is now the second home of the very-popular Burris Farm Market based in Loxley. Villaggio Grille is expanding its current space by 2,500 square feet; and for sushi lovers, the Ronin Sushi Bar & Restaurant will open in May. Since last November, the Wharf has welcomed 17 new tenants bringing first floor fulfillment to 96 percent - a sign of our growing economy!
To help improve traffic flow along Canal Road (180), which runs east from Gulf Shores all the way to the tip of Bear Point in Orange Beach, the Alabama Department of Transportation is widening lanes between the SR161 intersection (Doc’s Seafood) and the Wharf. According to the city of Orange Beach, construction is slated to be finished by Memorial Day weekend.
Construction continues on the Phoenix Orange Beach, a 21-floor condo development next to the Hampton Inn & Suites, across from the Publix shopping center. Pre-construction prices for the 114 three and four bedroom units (all Gulf Front!) are available. The 3 bed/3 bath unit is 1,770 sq. ft. for $565,000. The 4 bed/3 bath unit is 1,948 sq. ft. for $695,000. Interested? Give me a call!
To top it off, Starbucks arrives this summer across from Publix!
Abaco Condo Development in Gulf Shores
In 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. 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.
Pre-construction pricing is available through May 12: Interior units (2,080 sq. ft) for $750,000; outer units (2,120 sq. ft.) for $775,000; two interior penthouse units for $805,000; and two exterior penthouse units for $835,000. With 50% down, the price is reduced by 2%; if the unit is paid for in cash, 6% comes off the price. Don’t wait long!
If you wish to catch the real estate wave, give me a call! Christine Slaughter (251-942-3141)
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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!
First Quarter 2016 Gulf Front Condos Market Report
WHEW! What a (quarter) year it's been! The level of real estate activity I've witnessed during the "winter" months typically begins in late spring or early summer. But not this year. Buyers and sellers are jumping into the market sooner than ever before, driving demand up and inventory down.
According to the Alabama Center for Real Estate, residential sales in February of this year jumped 20 percent versus January. When compared to February 2015, sales climbed 6 percent. Add to that a 55 percent decline in housing inventory since the market peak in 2007, it's hard not to notice the incredible momentum. But, what's behind it?
As I've described in some of my earlier blogs, new businesses and construction, infrastructure upgrades and quality of life improvements (and of course the natural beauty!) are setting the stage for a new chapter of growth and prosperity throughout the area including Gulf Shores, Orange Beach and Foley. More and more, I am meeting first-time visitors to the area who want to buy. People who for years have been dreaming of moving to the coast are now taking real steps to make it happen, without the need to make multiple visits over an extended period of time. Potential buyers are now making more decisive and timely decisions to take immediate advantage of low interests rates and lower (but rising) property values. I anticipate this trend will continue as more and more baby boomers retire.
If you are a potential condo buyer or seller contemplating whether or not to jump into the market, the charts below may be of interest to you. They present sales statistics of Gulf front condos from January through March of this year (by price range and number of bedrooms). In all, buyers purchased 170 condos.
If you are interested in additional statistics (for a particular condo development, for example), don't hesitate to call me. I can also provide information on single family homes in the area. I would be happy to put my expertise to work for you as you contemplate your next steps. But, don't wait too long!
GULF FRONT CONDOS SALES STATISTICS:
January 1 - March 31, 2016:
| LIST PRICE | <$150K | $151-$200K | $201-$250K | $251-$300K | $301-$400K | $401K+ |
ONE (1) BEDROOM |
||||||
| # of Units Sold | 2 | 8 | 9 | 9 | 4 | |
| Average Sales Price | $135,000 | $169,000 | $220,222 | $256,000 | $351,000 | |
| Sale Price as % of List Price | 98.08% | 97.02% | 93.84% | 94.59% | 96.75% | |
| Average Price per Square Foot | $238.14 | $258.28 | $320.67 | $354.92 | $383.62 | |
| Average Days on Market | 71 | 280 | 182 | 112 | 69 | |
TWO (2) BEDROOM |
||||||
| # of Units Sold | 2 | 5 | 8 | 13 | 32 | 5 |
| Average Sales Price | $133,800 | $165,000 | $208,929 | $270,385 | $342,047 | $460,900 |
| Sale Price as % of List Price | 95.62% | 94.35% | 94.21% | 95.77% | 96.46% | 97.40% |
| Average Price per Square Foot | $190.34 | $199.25 | $243.13 | $290.78 | $315.19 | $375.35 |
| Average Days on Market | 321 | 151 | 155 | 383 | 137 | 71 |
| LIST PRICE | $300-400K | $401-$450K | $451-$500K | $501-$600K | $601-$700K | $701-$800+ | $801+ |
THREE (3) BEDROOM |
|||||||
| # of Units Sold | 26 | 18 | 9 | 4 | 4 | 3 | 2 |
| Average Sales Price | $358,450 | $408,528 | $453,778 | $542,250 | $633,125 | $702,667 | $867,000 |
| Sale Price as % of List Price | 95.97% | 96.22% | 94.99% | 94.24% | 97.36% | 96.10% | 92.57% |
| Average Price per Square Foot | $280.51 | $307.10 | $293.13 | $305.64 | $349.98 | $350 | $406.71 |
| Average Days on Market | 170 | 217 | 178 | 113 | 143 | 92 | 261 |
| LIST PRICE | $450-600K | $601-$750K | $751-$900K | $901K-$1.2M | $1.2M + |
FOUR (4) BEDROOM |
|||||
| # of Units Sold | 1 | ||||
| Average Sales Price | $1,550,000 | ||||
| Sale Price as % of List Price | 94.22% | ||||
| Average Price per Square Foot | $442.35 | ||||
| Average Days on Market | 342 | ||||
To see all currently-available 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!
Advantage Alabama!
With temperatures now reaching 70 degrees on most days, it seems like spring has already arrived, weeks ahead of the spring equinox which takes place on March 20, 2016 at 6:29 a.m. (EDT)! How’s that for precision?!
March is the time we begin to feel that transition in the air - from chilly mornings to glorious warm afternoons, when leaving the scarf or sweater at home becomes a very real option. The palm trees are perking up, boaters are rediscovering our beautiful waterways, and families are digging their toes in the warming sand and water - or serving some mean volleyballs.
Gulf Shores and Orange Beach are coming back to life. Not that they ever go dormant! Take, for example, our real estate market. In February alone, more than 90 condominiums and 30 single family homes sold, outpacing same-month sales in 2015. If you are looking to buy - or sell - now is a great time!
With all the natural beauty and activity buzzing around us, how can you not feel hopeful about the future of our beautiful beach communities? What’s even more encouraging is that community leaders are making real strides in planning for measured growth, in all facets of life (business, education, community development and environmental conservation) as part of a five-year strategic plan.
Launched in 2014 by the Coastal Alabama Business Chamber (located here in Gulf Shores), Advantage Coastal Alabama is a community-wide private-public partnership to drive development through 2020 in the following five areas:
Still in its infancy, the initiative is funded by both private and public investors, including Gulf Shores and Orange Beach who each contributed approximately $40,000 to the cause. Although both cities have launched their own respective strategic plans, Advantage Coastal Alabama aims to identify and support synergies with those plans. So, a win-win for all!
Here are just a few of the goals set forth under the initiative:
- Help expand the workforce for the local healthcare industry
- Support the expansion of the technology infrastructure in our area by hosting an annual technology summit conference.
- Advocate for the extension of the Beach Express to Interstate 65 and to the beach highway.
- Work with education partners to improve local schools and help prepare students for higher education.
- Partner with Gulf Shores and Orange Beach to implement a recycling program for businesses and condominiums.
To learn more about Advantage Coastal Alabama, visit www.mygulfcoastchamber.com.
It’s another beautiful day on Paradise Island. Are you ready for spring - and the next five years? I sure am!
If you (or a friend or family member) are in the market for a home or condo, or wish to sell your Gulf coast property, give me a call. I would love to put my expertise to work for you!
P.S. Watch for my flyer on home improvement tips in the mail. If you don't already receive my monthly flyer, just give me a call at 251-942-3141 to get your very own copy.
Source: Advantage Coastal Alabama Investing in Our Future 2015.
***
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!
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!
A Golfer's Dream on the 6th Hole at The Peninsula in Gulf Shores, Alabama
Driving into The Peninsula Golf & Racquet Club from Fort Morgan Road in Gulf Shores is like stepping into another world. The long, Live Oaks and Cypress tree-lined drive provides just enough time to feel the busyness of this popular beach-side community slip away. Nestled on approximately 820 secluded acres along the Bon Secour Wildlife Preserve, The Peninsula is a nature- and sport-lover's oasis.
For golfers, the Golf Digest 4-star rated Peninsula Golf & Racquet Club is renowned for it 27-hole championship golf course designed by well-known local golf architect Earl Stone. The club also sports 8 hydro tennis courts, an 8,000 square foot fitness center, indoor and outdoor swimming pools, a restaurant and other great amenities.
View of the 6th Hole Fairway
For prospective homebuyers, The Peninsula offers an array of beautiful, stately homes of all styles (craftsman, traditional and old world) throughout the property. Current sales prices range from approximately $330,000 to $730,000.
37 Bayside Court
One particular home stands out for its stunning Italian-inspired design. Boasting more than 3,000 square feet, this 3-bedroom 3-bath home on the 6th hole fairway of the Peninsula golf course offers the best in elegant living, entertaining - and, yes, some of the best golfing around (the home has its own golf cart garage). The home’s spacious interior and expansive screened-in terrace offer year-round opportunities to welcome and enjoy family and friends.
You can take a video tour of this one-of-a-kind home by clicking below:
Click here to find out more about the property. For a private showing, just give me a call at (251) 942-3141
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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!
