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Happy New Year! As always at the beginning of any year there are many
articles to read on goal setting and planning for the year ahead. I hope to shed
light on the past year’s local housing and condominium markets for you and show
that things are picking up for Real Estate on the Gulf Coast.
We focus on the Orange Beach and Gulf Shores areas. There are a lot of
statistics here so please feel free to email me or call if you need further
information. I am always available to assist you.
During the first half of 2011 the average price per square foot for single
family homes under $200K was approximately $70. The median sale price in this
range was $125K and the list to sold ratio 96%. First time home buyers and
investors picked up many foreclosures and short sales in this market.
In the 2nd half the price per square foot rose a few dollars to $74. Median
sale price fell to $120K and the list to sold remained about the same.
$200K – $300K Market was as follows:
1st & 2nd Half 2011 – Average Sq Ft = $114K
1st & 2nd Half Average sale price = $237K
List to sold ratio was not considerably different at 92% for the 1st half and
93% for the 2nd half.
For the $300k – $500k market the average square foot price jumped from
$127.50 in the first half to $170 in the 2nd. Median sale price in the 1st half
was $359K and the 2nd it went to $390K. List to sold was 92% in the 1st and
96.7% in the second. If you are considering selling your home in this price
range then please call me to discuss.
The $500K-$750K was a little different – 1st half Sq Ft price was $169 and
2nd half $181. Median sale price 1st half was $547.5K and 2nd half $560K. List
to sold 1st was 88% 2nd was 91%.
In the $750K – $1million range there were 14 sales in the first half of 2011
with a $212 per sq foot price, Median sale of $850K and List/Sold of 86%. 2nd
half there were 19 sales with a $207.5 per sq foot price, Median sale of $750K
and List/Sold of 88%.
For homes over $1 million in the first half 17 homes sold at an average of
$287 per sq ft, Median sale price $1,270,000 and an 82% list to sold ratio. 2nd
half 13 sales for an average per sq ft $293, Median sale price $1,300,000 and
83% list to sold.
In the Condominium market we only look at Gulf front units with the popular 2
bedroom 2 bath priced up to $250K first and the following stats for the first
half of the year.
(47 listings)
Low
High
Average
Median
Total
List Price
$102,000
$250,000
$190,315
$199,000
$8,944,800
Selling Price
$102,000
$250,000
$179,985
$190,000
$8,459,300
Sold/List(%)
75.71%
112.00%
94.68%
95.48%
–
Price/SqFt ($)
$129.94
$271.25
$194.64
$198.32
–
Days on Market
9
510
196
169
–
2nd Half of 2011 on 2 bed 2 bath Gulf front.
Statistics
(53 listings)
Low
High
Average
Median
Total
List Price
$112,000
$249,000
$193,483
$199,900
$10,254,590
Selling Price
$99,900
$245,000
$181,827
$190,000
$9,636,850
Sold/List(%)
74.00%
103.11%
93.72%
93.95%
–
Price/SqFt ($)
$87.83
$254.74
$191.38
$195.88
–
Days on Market
18
1427
230
133
–
2 bed 2 bath units from $250 up to $500K for 1st half.
Statistics
(51 listings)
Low
High
Average
Median
Total
List Price
$250,000
$489,000
$311,805
$299,900
$15,902,050
Selling Price
$240,000
$465,000
$293,857
$284,000
$14,986,700
Sold/List(%)
87.27%
107.84%
94.45%
93.85%
–
Price/SqFt ($)
$200.00
$295.99
$252.27
$252.21
–
Days on Market
1
1923
223
135
–
2nd half of 2011
Statistics
(54 listings)
Low
High
Average
Median
Total
List Price
$255,000
$389,900
$298,029
$289,750
$16,093,545
Selling Price
$240,000
$365,000
$283,807
$276,000
$15,325,600
Sold/List(%)
78.79%
104.49%
95.30%
95.54%
–
Price/SqFt ($)
$175.86
$295.07
$247.38
$257.00
–
Days on Market
1
834
183
133
–
1st Half 3 bedroom units $250K-$500K
Statistics
(81 listings)
Low
High
Average
Median
Total
List Price
$265,000
$499,000
$361,636
$357,500
$29,292,500
Selling Price
$250,000
$477,500
$337,892
$330,000
$27,369,250
Sold/List(%)
73.83%
101.84%
93.71%
94.19%
–
Price/SqFt ($)
$186.57
$304.18
$245.25
$242.14
–
Days on Market
2
2026
232
127
–
2nd Half 3 bedroom units $250-$500K
Statistics
(82 listings)
Low
High
Average
Median
Total
List Price
$255,000
$499,000
$374,522
$364,450
$30,710,800
Selling Price
$232,000
$482,500
$350,836
$348,500
$28,768,585
Sold/List(%)
76.92%
105.63%
93.79%
93.43%
–
Price/SqFt ($)
$173.13
$316.00
$246.37
$250.00
–
Days on Market
2
1303
195
124.5
–
3 bedroom unit $500K and up for 1st half 2011
Statistics
(43 listings)
Low
High
Average
Median
Total
List Price
$525,000
$2,150,000
$956,553
$925,000
$41,131,800
Selling Price
$470,000
$1,650,000
$917,870
$925,000
$39,468,400
Sold/List(%)
76.74%
100.00%
96.03%
100.00%
–
Price/SqFt ($)
$135.43
$467.19
$363.57
$402.00
–
Days on Market
1
583
102
6
–
3 bedroom units $500K & up 2nd half 2011
Statistics
(41 listings)
Low
High
Average
Median
Total
List Price
$539,000
$1,975,000
$950,845
$925,000
$38,984,650
Selling Price
$446,000
$1,850,000
$910,122
$925,000
$37,315,000
Sold/List(%)
48.10%
102.78%
96.37%
100.00%
–
Price/SqFt ($)
$115.00
$527.97
$371.86
$402.00
–
Days on Market
1
1243
120
16
–
4 bedroom plus Gulf Front units 1st half 2011
Statistics
(18 listings)
Low
High
Average
Median
Total
List Price
$449,000
$2,150,000
$946,372
$797,000
$17,034,700
Selling Price
$400,000
$1,650,000
$874,439
$704,200
$15,739,900
Sold/List(%)
76.74%
100.00%
92.76%
93.24%
–
Price/SqFt ($)
$135.43
$442.35
$285.08
$270.00
–
Days on Market
2
583
172
93
–
4 bedroom plus 2nd half 2011
Statistics
(43 listings)
Low
High
Average
Median
Total
List Price
$525,000
$2,150,000
$956,553
$925,000
$41,131,800
Selling Price
$470,000
$1,650,000
$917,870
$925,000
$39,468,400
Sold/List(%)
76.74%
100.00%
96.03%
100.00%
–
Price/SqFt ($)
$135.43
$467.19
$363.57
$402.00
–
Days on Market
1
583
102
6
–
These statistics taken from the Baldwin County MLS service.
Although there seems to be little difference in the selling price of units
between the first and second halves of 2011 the number of units closing is
encouranging. As our inventory shrinks and our prices remain steady I think 2012
will be a better year for sellers and a good year for buyers who are savvy
enough to purchase before prices start rising.
Good luck for a safe and prosperpous New Year. As always if you, your family
or friends need assistance in buying or selling real estate please keep me in
mind. I am always available to help.
Provencal decor, award winning eco construction combine in this bright, airy retreat with beautiful Gulf & Cotton Bayou views. State Park Beach, boat launch & jogging trails on your doorstep! Sportsman’s delight with
designated boat parking in lot, unobstructed southeast views over preserve to Gulf/Bayou will not change. New carpet May 2011, freshly painted, open floorplan, vacation-tastic!
Cute Cottage in prime location! 3 bedrooms, 2 baths, living/dining combo,
laundry room. Home completely rebuilt in 2006. Wood flooring, grantie counters,
custom cabinets. Carport and low maintenance yard. Close to City facilities,
rec. center, tennis,baseball fields, P.O. Schools and shopping. Great for anyone
looking for a well priced home in a convenient neighborhood. This is a DEAL!
One of the most luxurious back bay units in Orange Beach. The photos and visual tour speak for themselves. This unit was completely redone, with new Deta subflooring, tile through living areas, hardwood flooring in the 4th bedroom, NEW cabinets, appliances, large bedrooms and baths. The master suite is lavish no expense spared. 2nd Master for guests. Great views! Evidenced by the photos and visual tour – a must see. Hurricane shutters, 20×46 boat slip. Complex amenities include, indoor/outdoor pools, spa/hot tub, sauna & steam, workout facility, club house, tennis court, boat trailer storage area, and marina. What more could you want! Must see unit.
This immaculately maintained home on the Intracoastal Canal in Gulf Shores is close to all city facilities, recreation center, tennis courts, ball fields, library, City Hall, shopping and schools.
Beautiful tile flooring in the entry leads to the efficient kitchen and dining area. The livingroom boasts a fireplace and wonderful views of the water. The screen porch adds extra living and entertaining space. Upstairs features the master suite, large closet, bathroom with separate shower and jetted tub and double vanities. Wonderful sitting area in the master overlooks the canal where you can while away the hours watching boats and barges or enjoy a quiet read.
There are two extra bedrooms on a split level for guests or children. 2 car garage, 50 x 100ft waterfront lot.
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Christine Slaughter
This two bedroom two bath condo is a must see!
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