As the summer comes to a close and everyone is going back to their normal lives with school and work, we continue to see growth here in Gulf Shores and Orange Beach. Numbers have soared past projections not only for the month of July but also the year-to-date totals through the end of July.
The numbers that are brought to you here are only for condo sales in Gulf Shores and Orange Beach. These do not reflect additional sales of single-family homes or commercial properties.
July sales of 145 units came in at 26.1% higher than July of 2014, which is also 16.9% higher than forecasted by The Alabama Center for Real Estate. For the year-to-date totals, condo sales were 964 units through the end of July. This exceeds ACRE's forecast by 18.9%.
Other interests point to supply, demand, and pricing. Supply is 7.1% less than it was a year ago, and we've already discussed demand which has increased favorably. With supply decreasing and demand increasing, higher prices are sure to follow. Prices have increased by 21.8% from July of 2014 with a median sales price of $268,000.
The time is now, folks, if you've been thinking about a second home, permanent gulf front condo, or an investment property. Please contact me for all of your condo needs. Make sure to come back often to livegulfshoreslocal.com where you can get detailed information on various condos, find market data, or search all the available properties yourself.
Jeff Nelson
Bellator Real Estate & Development
251-654-2523
Email: jeff@livegulfshoreslocal.com
