Christine Slaughter
Broker Associate
Realty Executives Gulf Coast
Summer has passed but real estate remains hot!
Time to List your Home?
This time of year is one of my favorites. The summer heat is beginning to give way to some cooler air, the roads are a bit quieter and the water is as beautiful as ever. Many businesses are now gearing up for the soon-to-arrive snowbird season while taking a collective deep breath after an amazing summer - thankful for a strong and growing local economy.
In the case of real estate, things are equally bright. According to the Alabama Center for Real Estate at the University of Alabama, condo sales in Baldwin County jumped a whopping 21.2 percent in August 2016 versus August 2015. In total, 143 condos sold versus 118 during the same month last year. The average sales price of a condo was $346,201, a 27.5 percent increase from August 2015's average sales price of $271,621. At the same time, the number of condos for sale dropped by nearly 15 percent compared to August 2015 as buyers swooped in to pick up their piece of paradise.
Single-family home sales across Baldwin County show similar signs of rising demand and prices. Sales in August 2016 were up 19.86% versus August 2015 and up 3.38% year-to-date versus 2016. The average sales price rose 18 percent to $289,075 in August 2016 versus $244,902 for the same month last year.
With demand showing no signs of letting up, now is the time to list your condo or home for sale. If you’ve been contemplating putting your home on the market, I encourage you to do so as soon as possible. Buyers are waiting! Although the summer has passed, real estate remains hot! If you would like assistance in prepping your home and listing it, please give me a call at (251) 942-3141.
