Market Watch for Real Estate in Baldwin County, Alabama
Welcome to my Market Watch Page! I've created this portion of my web site in a continuing effort to keep you informed about what's going on in this crazy real estate market.
I update this page around the 20th of every month with the latest data about real estate in Baldwin County, Alabama. If you'd like to be notified as soon as I've updated this page each month, please subscribe to my Condos in Gulf Shores Blog. (To sign up, just look for the word "Subscribe" on the right-hand side of the Blog page, fill in your email address and you'll automatically be emailed updates of my Condos in Gulf Shores Blog including notification of monthly Market Watch updates.)
Market Watch Information
In the first portion of this page, I've included data that pertain to real estate in Baldwin County, Alabama, as a whole.
The second part gives you details about closed sales of Gulf Front condos in Gulf Shores, Orange Beach condos and Fort Morgan beach condos.
June Stats - What You Need to Know
Let's take a look at some numbers for June.
Well we are 6 months into the year and what had been shaping up to be a better sales year than 2009 is now more "up in the air" than ever. As I write this the hole in the Gulf floor has been plugged for about 24 hours. "Cautiously optimistic" is the word of the day!
The number of new home sales climbed by 48% over June of 2009. The large volume builders have purchased blocks of distressed lots and have been building like crazy to get in under the Home Buyer Tax Credit. The average price of a new home continues to decline with the June 2010 average price of a new home at $192,938. Existing home sales were up only about 12% from last June. The average price of an existing home was $175,361 in June 2010.
The condo sellers haven't been quite so lucky when it comes to prices or the number of transactions. Condo sales, of course, are not affected as much by the Tax Credit but they ARE affected by the oil spill. There were 172 condo transactions in June 2010 compared to 188 last June.
Foreclosures in Baldwin County continue to rise. There were 154 foreclosures in June compare to 115 last June for an increase of almost 34%. There were over 500,000 foreclosures nationwide through June 30th putting us on pace for a record setting year for foreclosures in 2010.
I sincerely appreciate your interest in what is happening in the real estate market in Baldwin County and specifically Gulf Shores and Orange Beach real estate. If you have questions or comments about any of the information I have posted here, I invite you to call me at 1-866-978-7118 (toll free) or 251-978-7118 (cell).
John
We are seeing the best prices for condos in Gulf Shores and the Pleasure Island market that we have seen in years. I feel that we are going to find the bottom in the upcoming months.
If you're interested Gulf Shores and Orange Beach condominium sales listings that have come on the market in the last few weeks, contact me now and I'll email the MLS listings to you.
Market Watch - June 2010
for Condos in Gulf Shores, Orange Beach Condos, Fort Morgan Beach Condos
(and Single Family Homes and Real Estate in Baldwin County, Alabama)
Brought to you as a free service by John Ricks
and the Gulf e-Team at RE/MAX of Gulf Shores
Sales Activity Real Estate in Baldwin County Alabama
June 2010
| Number of Sales |
| Single Family Homes |
June 09 |
June 10 |
Change |
| New Home Sales |
58 |
86 |
48.28% |
| ReSales |
322 |
360 |
11.80% |
| Total Single Family Sales |
380 |
446 |
17.37% |
| Condominium/Townhome |
| New Condos Sold |
22 |
25 |
13.64% |
| ReSales |
166 |
147 |
-11.45% |
| Total Condos/TH |
188 |
172 |
- 8.51% |
| Foreclosures |
115 |
154 |
+33.91% |
| |
|
|
|
| Dollar Volume of Sales |
| Single Family Homes |
| New Home Sales |
11,564,905 |
16,592,729 |
43.47% |
| ReSales |
59,959,900 |
63,130,300 |
5.29% |
| Total Single Family Sales |
71,524,805 |
79,723,029 |
11.46% |
| Condominium/Townhome |
| New Condos Sold |
9,024,400 |
6,683,200 |
-25.94% |
| ReSales |
41,403,300 |
33,807,600 |
-18.35% |
| Total Condos/TH |
50,427,700 |
40,490,800 |
-19.71% |
| Foreclosures |
31,561,700 |
47,964,200 |
51.97% |
Sales Activity for Condos in Gulf Shores & Orange Beach Condos
June 2010
To learn more about current market conditions for real
estate in Baldwin County, Alabama, complete this short form:
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