Condo Sales Report for Gulf Shores and Orange Beach
As the summer buying season goes into full swing, sales continue to rise. Condo sales in May 2015 increased by 7.7% over May of 2014. Furthermore, year-to-date sales increased 12.9% from the same period as last year. Total units sold in May of 2015 were 674.
On the other hand, inventory is down from a year ago by 5.2% with a total of 1,050 units for sale. With demand increasing and the level of condos on the market decreasing, prices tend to go up. I'm seeing different fluctuations in regard to price increases depending on the building. For instance, in Sailboat Bay, there has been an increase in the selling price by 7.1% from May a year ago while in San Carlos the rise in selling price is 9.75% from May 2014.
Overall, the median sales price of $261,000 has increased 7.6% for Baldwin County condos from last year.
These figures are designed to give you the general market trends for condo sales in Gulf Shores and Orange Beach. For details on a particular condominium, please contact Jeff Nelson at 251-654-2523.
