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!)
