Christine Slaughter
Broker Associate
Realty Executives Gulf Coast
I hope your new year is off to a good start! It seems no matter where you may be – here in Alabama, in the region or somewhere in the country, cold temperatures have descended upon you. Thankfully, it looks like the warmer weather we are accustomed to along the Gulf Coast is just around the corner. So, hang on!
The chilly temps haven't cooled activity in our area. Wherever you travel in Orange Beach, Gulf Shores or Foley, new businesses, residential subdivisions and city projects are underway. Construction of Gulf Place to the west of The Hangout in Gulf Shores is in full swing. Installation of much-welcomed sidewalks on both sides of Beach Boulevard is progressing well. In the Gulf State Park, the expansion of trails and two pedestrian bridges from the park to the beach are near completion. What a gem we have in the park. In Orange Beach, improvements to roadways continue to be made to manage traffic volume.
Everything is gearing up for a great kick-off to spring!
When looking at the 2017 real estate market in Baldwin County versus 2016, overall residential sales were up 9.5% while the average sales price rose 6.4%. Days on the market dropped by 12.6%. Condo sales in 2017 grew by 11.2%, and the average sales price was up by 12.3%. Days on the market fell by a whopping 21.4%. So, 2017 was a very strong year for real estate. I anticipate 2018 will fare equally well.
Inventory remains tight along the Alabama Coast. See my properties for sale at www.christineslaughter.com. Looking at the broader picture, Alabama continues to draw new residents. According to a 2017 United Movers Study, Alabama ranked #10 in “most moved-to state” in the country. More people (55%) moved into the state than headed out. This reflects the overall trend of more people moving to the South (particularly Alabama, South Carolina and North Carolina) given our relatively low cost of living and moderate climate.
In addition, local job growth continues to climb. In fact, 61% of people who relocated to Alabama in 2017 did so for work. And, workers will soon be able to vie for one of approximately 4,000 jobs (with an average annual salary of $50K) when the just-announced Toyota/Mazda automotive plant gets up and running in 2021.
When looking to the horizon, Alabama’s future is bright.
As people continue to relocate to Alabama, I expect many will look to purchase a home or condo along our beautiful coastline. Many prospective buyers will opt to purchase a second home/condo while others will look to plant their feet in their new primary residence. Either way, almost half of all people who moved to Alabama last year had a minimum annual income of $100,000, so many have the financial wherewithal to make their real estate dreams come true!
If I can help you with your real estate dreams-whether you wish to buy or sell-don’t hesitate to call me at (251) 942-3141. Also, if you know of someone who would appreciate the level of service that I provide, please give me their contact information. I will be sure to follow up and take good care of them!
I hope you have a great 2018. Remember, warmer weather IS coming. Last but not least, Happy Mardi Gras! Fat Tuesday is just around the corner on February 13. Click here for the Mardi Gras parade schedule along the coast.
“Laissez les bon temps rouler en Baldwin County!” (Let the good times roll in Baldwin County!)
Coolin’ Down? Not Quite Yet.
The temperatures may be cooling along the Gulf Coast but real estate continues to bring some heat. Condo sales in Baldwin County during the third quarter of this year were up 18.7% versus third quarter last year. The average sales price was $389,405, a 19.9% increase from the sales price of $324,844 during the same period in 2016.
To boot, prospective buyers are not sitting on the fence as long. The average number of days a condo sat on the market in the third quarter of 2017 was down 19.7% to 128 days versus 159 days in 2016. Inventory remained extremely tight as the number of available condos for sale fell by 18.5% versus last year. These are all amazing numbers that represent the boom that continues to unfold in our beautiful community.
So, what’s behind this growth? Without a doubt, baby boomers (people born between 1946 and 1964) are fueling a large part of the market. There are about 77 million baby boomers in the U.S., and according to AARP, 10,000 baby boomers are reaching retirement age every single day.
Gulf Shores and Orange Beach and nearby towns are attractive retirement spots given our property taxes and cost of living tend to be lower than other comparable beach communities in other states. Our weather, while slightly cooler than southern Florida, is heavenly for those leaving the snow and ice behind.
Our community also has so much to offer – top-rate entertainment, educational venues, festivals, concerts, world-class parks, golfing and fishing, and, of course, pristine beaches.
City planners continue to think of new ways to improve the quality of life–new and expanded sidewalks to encourage more biking and walking; redevelopment of the beach front conducive to picnics, long strolls and less traffic; upgrades of existing recreational facilities and cultural offerings; and much more. I myself love the manicured landscaping replete with seasonal flowers located along Gulf Shores’ street corners!
I encourage you to follow the cities of Gulf Shores (@cityofgulfshoresal) and Orange Beach (@orangebeach) on Facebook to follow all that’s going on.
As the holidays approach, I anticipate the real estate market will slow just a bit as families gear up for winter travels and fun. But, it makes for a good opportunity for prospective buyers to check out what’s available before the market heats up again in the new year. Just let me know if I can help with your search in any way, or if you are interested in placing your home or condo on the market.
As always, if you know of someone who would appreciate the level of service that I provide please give me their contact information. I will be sure to follow up and take good care of them.
There is no time like the present to make things happen. Things aren’t coolin’ down just yet!
I hope you have a terrific holiday season with all the fixings of love, family and friends!
We’re Sizzlin’ Along Alabama’s Gulf Coast!
By all accounts, it’s been a sizzlin’ summer along Alabama’s Gulf Coast. Although tourism statistics for summer visitors have yet to be released, it’s not unrealistic to predict that tourism records may be broken yet again! We do have numbers for real estate, and they’re hot, hot, hot!
In July alone, condo sales in Baldwin County were up 39% while prices rose by a whopping 59% versus July 2016. Taking a broader view, when comparing sales activity in Gulf Shores, Fort Morgan and Orange Beach between January and July 2017 versus the same period last year, the number of condos sold rose by 16% to 1024 units while the average sales price rose by nearly 15% to $351,785. The number of single family homes sold rose by 17% to 498 units while the average sales price rose by 7% to $377,506.
What’s driving the growth?
The news of our beautiful beaches continues to spread. In May and June, for example, Gulf Shores and Orange Beach were highlighted in Reader’s Digest, USA Today, Travel and Leisure, and Bon Appetit. In addition, the opening of the OWA - Amusement and Entertainment Destination gave our area added media coverage and interest.
The number of entertainment, recreation, dining and lodging options continues to grow. For example, The Big Beach Brewing Company has proven to be THE place for locals and tourists alike to enjoy home-brewed libations in an al fresco, friendly environment. The Diner right next door serves up a mean BBQ shrimp & grits and to-die-for strawberry bread pudding. A Comfort Inn is going up on Beach Boulevard just east of The Hangout, and the sophisticated Hotel Indigo is open for business in Orange Beach.
Adding to our already-stunning surroundings, the beautiful Gulf State Park continues to expand its biking/ walking trails and pedestrians will soon be able to walk or bike safely from the park directly to the beach on one of two bridges over Beach Boulevard. And, If you haven’t already, you need to check out the new beach boardwalk and green space as part of the Gulf Place Revitalization project in Gulf Shores (see photo!).
Although some would say we’ve hit the big time, we’ve been able to keep our small-town feel. Just turn off of 59 south of the bridge and you’ll feel like you’ve returned to Gulf Shores of years ago. The quaint streets, parks, tall southern pines and tucked-away homes give you a chance to catch your breath and reflect on how beautiful our community is - from its many different angles. The sister-city of Orange Beach offers similar areas of beauty, respite and old-town charm.
Let me know if I can help you find your dream vacation or retirement home along our beautiful coast. Whether you want a quiet getaway or a place in the middle of all the fun, we have it all! I can also help you sell your place! I have no doubt things will continue to sizzle!
Christine Slaughter - (251) 942-3141
Historically, the month of May has been one of recuperation after spring-breakers return home and preparation for soon-to-arrive summer visitors by the millions. Yes, millions. In 2016 alone, more than 6 million people took a vacation along Alabama’s Gulf Coast and spent a total of $4.2 billion!
Although May and other “shoulder” months have provided a brief respite in the past, they are quickly becoming popular for visitors. The Hangout Festival, the NCAA Beach Volleyball championship and a host of other springtime events continue to draw an ever larger group of people to our shores. The energy is non-stop! For those seeking peace and quiet, no need to fear. A May morning on the beach remains tranquil and glorious.
Much like tourism, the energy in the local real estate market continues to buzz. According to the Alabama Center for Real Estate at the University of Alabama, condo sales in Baldwin County during the 1st quarter of this year are up 35.4% versus the same period in 2016 while the average sales price of a condo is up 13.7% at $320,013 versus an average sales price of $281,386 in 2016. The pace of home-buying has pushed condo inventory down by 19.6% versus last year and 26.3% versus five years ago! Demand is certainly pushing prices up. If you want to buy, you have to act quickly; the average number of days a condo sits on the market is down by 14.7% versus a year ago. And, if you’ve been contemplating putting your place on the market, now is the time! You can access the full report by clicking here.
In Gulf Shores, the beautiful, state-of-the-art 78-unit Abaco development (above) is soon to get underway at 903 West Beach Boulevard. The only gated condo development in the city, Abaco will rise 24 stories and offer 3 bedroom & 3.5 bath units, with only 4 units per floor. Club Level units on floors 5 and 17-23 are offered with added benefits, such as preferred parking, private coded floor access (on the 5th floor), and upgraded luxury interior. Penthouses enjoy the same benefits. Prices of available units range from $750,000 to $775,000 with potential annual rental income of more than $70,000 based on similar properties. Again, give me a call as units are pre-selling quickly!
Although overall inventory is low right now, some good deals on some beautiful properties exist. Give me a call if you are interested in buying in the area or just want to get your feet wet exploring what’s available. I would be happy to show you around! In the meantime, feel free to check out my current listings at ChristineSlaughter.com. And, if you want to sell your place, now is the time! There are more buyers than available properties. Don’t let this opportunity to sell when the market is ripe pass you by!
I hope you have a terrific Spring and Summer!
Christine Slaughter
(251) 942-3141
If you haven’t been to the Alabama Gulf Coast in a while (even a few months), you'll be surprised by all the changes since your last visit! It seems every time I drive through Gulf Shores or Orange Beach, something new appears. And, right up the road in Foley, things are booming. Everywhere you look, long-time empty commercial and residential lots are giving way to new businesses and homes. The area continues to welcome a record number of visitors, many of whom are jumping into the local real estate market. Here are just some of the highlights:
The City of Gulf Shores is not wasting any time! Workers continue to pour a new 8-foot wide sidewalk along Highway 59 from the beach north to the Intracoastal Waterway. In conjunction with the new sidewalk, phase one of a new pedestrian bridge on the east side of Highway 59 near Bayou Village (across the street from The Original Oyster House) is scheduled to open this summer. All of these upgrades are part of Gulf Shore’s master plan to provide a safer and more pleasant walking and bicycling environment.
Along the beach, the city’s $15 million Gulf Place revitalization project (above) is well underway just west of the 59 and Beach Boulevard intersection. As part of the first phase to be completed by May 1, new beachfront boardwalks, parking and landscaping are now visible. Long-known as the Gulf Beach District, this revitalized area will provide ample green-space for families to enjoy the city’s biggest asset! Visit gulfshoresal.gov for more information.
As a sure sign of housing demand, Gulf Shores just approved a site plan for Marbella (or “beautiful sea”), a three-story, 96 unit apartment complex at 1901 E. 1st. Street. The project will include a pool and clubhouse and will be located behind Uptown Plaza on E. 20th Avenue. For you investors, rental property is needed!
It’s impossible to miss the Gulf State Park restoration project on the beach as you head east toward Orange Beach. Expected to be completed in 2018, The Lodge at Gulf State Park (above) will replace the lodge destroyed by Hurricane Ivan in 2004. The lodge is part of a 20-year franchise agreement with Hilton Hotels and will include a conference center, education center, interpretive center, five miles of new trails and dune restoration. A pedestrian bridge over the beach road connecting the north side of our beautiful state park to the planned interpretive center just west of the existing Saltwater Pavilion is also in the works. Visit mygulfstatepark.com for more information.
As you head into Orange Beach, you’ll see quite a bit of activity, including road upgrades at the corner of Beach Boulevard and Highway 161 to improve traffic flow. At that intersection, two luxury condo developments (the tallest along the Gulf Coast!) with 600 feet of beach frontage are now in the pre-construction phase (above). The 36-story Ascension will have four- and five-bedroom units while the 35-story Grace will have three-and four bedroom unit. In total, 278 units will be available for purchase. Interested? Give me a call!
Not to be overlooked, the soon-to-open, 520-acre mega entertainment district OWA (above) on the Foley Beach Expressway is fueling lots of excitement and anticipation. As part of phase one, an amusement park will open this summer with 21 rides, a hotel and retail shops. The second phase will have additional hotels, a waterpark, condos and an RV park, and more. Viewed as an affordable alternative to Disney or Universal Studies, the $500 million OWA (or “big water”) venue will generate approximately 3,500 construction and onsite jobs (think potential homeowners and renters) and millions in tax revenue.
Last year, I encouraged my clients to “Catch the Wave” in real estate. Tight inventory helped sellers move their homes while rising prices, low interest rates and readily-available mortgage loans meant buyers had to act quickly. 2017 is no different.
Wikipedia defines a wave as an “oscillation accompanied by a transfer of energy.” Well, the real estate wave continues to build, and the positive energy moving through the local economy shows few signs of ebbing. Simply put, people want to live or have a second home here. If you want to sell, buy or invest in real estate to take advantage of this energy, now is the time.
Come, feel the energy in 2017!
Christine Slaughter
(251) 942-3141
Photos courtesy of City of Gulf Shores, Gulf State Park, GCOF & OWA.
