2011 Coastal Baldwin County Real Estate ReCap

By
Services for Real Estate Pros with RE/MAX of Gulf Shores

2011 Coastal Baldwin County Real Estate ReCap

 

                If you asked me to sum up the 2011 Real Estate Market for the Gulf Shores, Orange Beach, and the surrounding coastal communities in one sentence, I would have to say, “It was all good.”

             Of course with the already sloping 2010 economy, the market was even further disabled due to the Oil Spill and all of its fallout.  With this being said, it should be a no-brainer that our area market be shining in comparison.  As I have written about previously, 2011 was not only an improvement for our general tourist market, but an overall record in terms of the volume of dollars absorbed here in Gulf Shores and Orange Beach and surrounding areas. 

          Since people were in such a bustle to get back to coastal Baldwin County after withdrawing the previous year, one would wonder if the sales market would also put on a good show.   The coastal Baldwin County Real Estate market showed improvements in 2011 in all areas when compared with 2010. 

Total Condos Sold 2010 vs. 2011

    Areas Factored: Gulf Shores, Orange Beach, Fort Morgan, Perdido Key

 

Factors to note:

o   Average price per square foot: $258.00 / 2010

o   Average price per square foot: $262.00 / 2011

o   Distressed property sales: 40% / 2010

o   Distressed property sales: 26% / 2011

Average Condo prices sold | 5 Year Snapshot

Areas Factored: Gulf Shores, Orange Beach, Fort Morgan, Perdido Key

 

Total Coastal Baldwin County Condos Sold | 5 Year Snapshot

Areas Factored: Gulf Shores, Orange Beach, Fort Morgan, Perdido Key

 

Total Single Family Homes Sold 2010 vs. 2011

Areas Factored: Gulf Shores, Orange Beach, Fort Morgan Perdido Key

 20102011

Factors to note:

o   Average sold price: $265k / 2010

o   Average sold price: $298k / 2011

o   96% increase in sales of $500k or more in 2011

o   Distressed property sales: 53% / 2010

o   Distressed property sales: 44% / 2011

Average Coastal Alabama Single Family Homes sold prices | 5 Year Snapshot

Areas Factored: Gulf Shores, Orange Beach, Fort Morgan, Perdido Key

 

Total Coastal Baldwin County Single Family Homes Sold | 5 Year Snapshot       

Areas Factored: Gulf Shores, Orange Beach, Fort Morgan, Perdido Key

 

     As you can see, sales are up, and it appears that prices may be ready to start an upward trend up as well.   2012 numbers will help determine this more clearly.  With our Gulf Coast communities banding together towards the common goal of plumping up our economy, efforts seem to have resulted in a positive result. 

              National housing experts have mixed outcomes on the Real Estate Market as a whole.  Most say that prices will continue to fall, while REO properties will continue to increase.  Our 2010 to 2011 numbers are not in line with this forecast, as our foreclosure properties have decreased (and have almost diminished on the beach front), and prices have started to move up. 

               Whether you are a buyer or seller, the market in our area can be seen as favorable.  Sellers have a much smaller number of REO properties to compete with.  Buyers can still feel confident that the prices they are purchasing have only just begun to rise.  

              The only thing that is safe to assume is that things will change.  Nothing is constant, especially in the market, real esate and otherwise.  It's hard to imagine what 2012 has in store for us with the volatility of  international relations, and upcoming elections. The nation is likely in for ups and downs, ifs and whens.  That fact has high probability of being a good bet.         

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Alabama Baldwin County Gulf Shores

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the world to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the music-note to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the music-note to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
9,275

Kristy Doggett

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the flag to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: