Here is your real estate update for just the sale of condos on the Alabama Gulf Coast – Gulf Shores and Orange Beach. The figures that you’ll find here are taken from the real estate activity of December 2019.
HERE’S WHAT YOU’LL FIND COVERED BELOW:
Total Sales for the Month
Annual Sales Trends
Median Sales Price
Total Condos Listed
Average Sales Price
Average Days on the Market
GULF SHORES AND ORANGE BEACH CONDO REPORT January 2020
TOTAL CONDO SALES IN DECEMBER
Yes, there was a total of 146 condos that sold last month, which isn’t too bad considering that it was obviously the holidays. As you can see, this figure represents the highest number of condos sold in December compared to the previous 4 years. The Alabama Gulf Coast condo market is strong!
The increase in sales compared to those from a year ago represent an increase of 50.5%. Also, the 5 year average of condos sold in December is 112, so there is also a 30.8% increase over the 5 year average.
ANNUAL SALES: TRENDS
This graph is just an interesting fun fact that shows how many condos have sold each year over the last 13 years. Our area continues to remain a strong real estate market with condo sales in Gulf Shores and Orange Beach.
MEDIAN SALES PRICE
The median price is found by taking the exact middle value between the highest and lowest price. The median sales price of $366,250 for condos in December represents a whopping 13.4% increase from the median price of $323,000 from a year ago.
TOTAL CONDOS LISTED
The total amount of condos listed has remained fairly consistent for December over the last few years. The higher number of properties listed gives buyers more choices. This creates a buyer’s market. For the past 3 years, we have been in a slight buyer’s market with a steady amount of inventory available.
AVERAGE SALES PRICE
The average sales price for last month of $410,764 is 8.6% higher than that of a year ago, which was $378,081. Sales prices have been on the rise for the last several years, giving owners who bought several years ago really good appreciation. What do you think sales prices will look like 5 years from now?
DAYS ON THE MARKET
A lower “Days on the Market” figure indicates a stronger market for sellers. This shows demand among buyers. In our market for last month, there was an increase in days on the market by 23.4% from a year ago.
Check out the links below for area information, pricing, and active condos for sale.