Coolin’ Down? Not Quite Yet.

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!