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.
July 2016 Real Estate Update
(Plus some great upcoming events!)
Summer is winding down along Alabama’s Gulf Coast. Many visitors have headed home after Labor Day as another school year gets underway. It’s been a great summer here in Gulf Shores and Orange Beach. According to the Alabama Tourism Department, the number of visitors (including international travelers) to the state is on track for a fifth record year. Our beautiful beaches are one of the main attractions!
Sightly more than 6 million visitors put their toes in our soft sparkling sand in 2015, up from 5.7 million in 2014, and spent an estimated $3.9 billion (versus $3.5 billion in 2014). Although overall tourism figures are not yet out for 2016, hotel occupancy rates during the summer months are trending upwards over last year. This growth continues to drive our local real estate market.
According to the Alabama Center for Real Estate at the University of Alabama, condo sales in Baldwin County this July were up 2.8 percent versus July 2015. Conversely, condo inventory dropped by 8 percent. The average sales price of a condo rose to $327,809 from $291,926, an increase of 12.3 percent. Overall, 823 condos sold through the second quarter of 2016, outpacing forecasted sales by nearly 4 percent. Condo sales in Baldwin County parallel the overall demand for real estate in Alabama, which saw home sales through July grow by 6 percent versus last year.
While we anticipate a slowdown in activity as the fall season approaches, Gulf Shores and Orange Beach have lots of great events on tap to attract visitors (and potential home buyers!).
Here is just a sampling of what’s in store:
September 10: Brett Robinson Alabama Coastal Triathlon, Gulf Shores
The Hangout in Gulf Shores will host for the 8th year in-a-row this swim, bike and race event. You can choose to do the Intermediate Triathlon (1.5K Swim/40K Bike/10K Run) or its smaller version, the Coastal Tri-It-On (300yd Swim/10mi Bike/2 mi Run). Or, just come on down to the end of 59 to cheer on the athletes! To learn more, visit team-magic.com.
September 15-17: Wharf Uncorked Food & Wine Festival, Orange Beach
In support of Make-A-Wish Alabama, this premier event gives you the opportunity to sample dishes from well-known chefs as well as 150+ fine wines! Chefs include some of our very own, including Chef Brody Olive from the Perdido Beach Beach Resort and Chef Chris Sherrill from the Flora Bama Yacht Club as well as two-time Chopped champion, James Brisione. Visit thewharfuncorked.com.
September 17: The 28th Annual Alabama Coast Cleanup
Help clean our coastlines by becoming a cleanup volunteer! Cleanup runs from 8:00 a.m. to noon. Visit alabamacoastalcleanup.com.
September 22-25: 2016 Alabama Tri Level Tennis State Championship, Gulf Shores
Tri Level Champion teams from the twelve local leagues will be invited to compete in the championship. More than 650 players are expected. In addition, two more tournaments (including the Mayors Cup) will take place in October and November. If you are interested in advertising your business during all three tournaments, give me a call at 251-942-3141. (Besides real estate, tennis is my other passion!)
October 8: 5th Annual Alabama Festival of Flavor 2016, Foley
Sponsored by Riviera Utilities, this popular event will showcase local and regional foods from food trucks and renowned chefs in the heart of historic downtown Foley. Buy your sampling tickets online today to get a discount! Visit alabamafestivalofflavor.com.
October 13-16: 45th Annual National Shrimp Festival, Gulf Shores
The big daddy of them all! This four-day event offers up a wide array of terrific shrimp delights plus live music and activities for the kids! Come find out why this is one of the top-rated events in the South! Visit myshrimpfest.com.
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Christine Slaughter is an associate real estate broker with Realty Executives of Gulf Shores, Alabama. Originally from Australia (she moved to Alabama’s stunning coast nearly 30 years ago), her love of the sand, sun and seafood are deeply-rooted in her soul.
If you are looking to buy or sell along the Alabama coast (or Florida), you can reach Christine directly at (251) 942-3141 or email her at Christine@ChristineSlaughter.com.
Be sure to follow Christine online at ChristineSlaughter.com,on Twitter@ChristinesCoast or Facebook at ChristineSlaughterRealtor.
Click here to read what clients are saying about Christine!
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Gulf Coast Beach Condos are in High Demand
If you’ve been contemplating buying a condo along the Alabama coast, I encourage you to purchase one soon. Much like the temperatures across the nation, the demand for beach condos in Gulf Shores, Orange Beach and neighboring Perdido Key in Florida continues to rise.
According to the Alabama Center for Real Estate at the University of Alabama, condo sales in June 2016 were up 7% compared to the same time last year and up a whopping 31% versus June 2011. This is putting increasing pressure on condo inventory. As of June, we had about a 5-month supply of condos on the market. That means at the current sales rate, all available condos will be sold and off the market in five months. When you compare this with June of last year, inventory is down by almost 25%!
Many prospective buyers (you?) may see this as a bad sign and decide to sit out for now. I beg you to reconsider. While prices have been increasing, you can still find some great deals and MANY good deals directly on the beach or just a block or two away. While no one can predict the future, I anticipate that prices will continue to go up steadily as the area continues to grow and more and more retirees and families relocate here. If Gulf Shores, Orange Beach or Period Key are in your plans, don’t put off decisions you can make today to secure your dreams.
I’d like to highlight several condo developments.
The Dunes, Ft. Morgan
The Dunes Condominiums are located on the beautiful Fort Morgan Peninsula approximately 20 miles west from Highway 59 in Gulf Shores. A great family or retiree get-away, the Dunes is an affordable option that offers all the amenities of a beachfront resort. All units have a direct view of the Gulf. Prices of available units (1 to 5 bedrooms) range from $165,900 to $509,000.
Beach Life Condominiums, Gulf Shores
Still under construction, this low-density development sits just one block from the beach and is a short walk to restaurants and shops. It consists of four buildings with two condos apiece. Each condo will feature a 2-story design; 3 bedrooms and 3 baths; 1,560 square feet of living space; and covered balconies and parking. The development will feature a pool and other resort amenities while maintaining a more quiet town-home feel. You can secure the pre-construction price of $310,000 if you reserve today. Give me a call for more information.
Abaco, Gulf Shores
The beautiful, state-of-the-art 78-unit Abaco development is 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. To date, 30 units have been reserved.
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.
Vista Del Mar, Perdido Key, Florida
Destroyed by Hurricane Ivan in 2004, the Vista Del Mar is rising up again on Perdido Key. With sweeping views of the Gulf of Mexico and the Gulf Islands National Seashore, this 9-story 64 unit development will offer the best in luxury beach living. Only 11 units remain with pricing starting at $785,000.
This is only a sampling of condos available along our beautiful coastline. I would be happy to help you find your dream condo. But, don’t wait too long!
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Christine Slaughter is an associate real estate broker with Realty Executives of Gulf Shores, Alabama. Originally from Australia (she moved to Alabama’s stunning coast nearly 30 years ago), her love of the sand, sun and seafood are deeply-rooted in her soul.
If you are looking to buy or sell along the Alabama coast (or Florida), you can reach Christine directly at (251) 942-3141 or email her at Christine@ChristineSlaughter.com.
Be sure to follow Christine online at ChristineSlaughter.com,on Twitter@ChristinesCoast or Facebook at ChristineSlaughterRealtor.
Mid-Year 2016 Real Estate Update
Summer is in full swing along Alabama's Gulf Coast! The Fourth of July weekend marked the highpoint of the season and while many visitors are heading home after the long weekend, the summer fun continues in every direction! Sunworshippers are digging their toes in the sand at the end of 59, boats are cruising the Intracoastal Waterway along State Highway 180 (Canal Road), and shoppers are returning to Gulf Shores and Orange Beach from Tanger Outlet (and from other great spots) on the Foley Beach Express. It's been a great summer so far. In the case of real estate, the picture continues to be bright.
Gulf Coast Condos:
According to the latest figures from the Alabama Center for Real Estate at the University of Alabama's Culverhouse College of Commerce, 173 Gulf Coast condos sold in May 2016, an increase of 13% when compared to May 2015. When looking at the 5-year average (2011-2015), demand rose by 20.5%! At the same time, the average sales price of a condo this May was $291,309, or 11.7% less than the average sales price of $330,249 in May 2015. (Buyers: Think good deals!)
Given the current rate of demand coupled with lower prices, the number of condos available for sale (896 units) in May dropped by nearly 15% versus last May. To boot, a condo sat on the market for 33 fewer days than in May 2015, or a decrease of 16.8%. When looking at the 5-year average, a condo sold on average 24 days faster than last May. (Sellers: Competitive pricing is key in a tight market to move a property.)
Click here for the latest results from the Alabama Center for Real Estate.
Existing & New Construction Single-Family Homes:
In May of this year, 316 existing family homes sold versus 312 homes in May 2015 at an average sales price of $248,013 versus $248,903. On average, it took 147 days to sell an existing home in May 2016 - the same as in May 2015. When looking at new construction, 55 new homes sold this May versus 49 in May 2015 at an average sales price of $277,657 versus $255,753 last year. This May, it took on average 155 days to sell a new construction home versus 271 days last May!
Click here for more results from the Alabama Center for Real Estate.
Single Family Home Snapshot (April-June 30, 2016):
Below is a snapshot of single family home sales (both existing and new construction) in Gulf Shores/Fort Morgan, Orange Beach and Foley from April 1 through June 30, 2016:
Gulf Shores/Fort Morgan
| Price Range | # of Units Sold | Medium Price | Sale Price as % of List Price | Price per Sqft | Days on Market |
| Less than $200K | 10 | $150,000 | 94% | $106 | 152 |
| $201-300K | 14 | $246,500 | 96.7% | $143 | 119.5 |
| $301-400K | 17 | $350,000 | 97% | $196 | 222 |
| $401-500K | 7 | $440,000 | 95.6% | $197 | 121 |
| $501-600K | 3 | $507,500 | 95% | $259 | 260 |
| $601-700K | 3 | $615,000 | 88% | $312 | 113 |
| $1M + | 2 | $1,125,000 | 89.6% | $445 | 85.5 |
Orange Beach
| Price Range | # of Units Sold | Medium Price | Sale Price as % of List Price | Price per Sqft | Days on Market |
| Less than $200K | 8 | $157,000 | 94% | $100 | 145 |
| $201-300K | 10 | $255,000 | 97% | $137 | 51 |
| $301-400K | 10 | $339,500 | 96% | $140. 50 | 121 |
| $401-500K | 6 | $449,750 | 94. 7 | $158 | 81 |
| $501-600K | 3 | $525,000 | 91. 8% | $147 | 143 |
| $601-700K | 6 | $656,000 | 97. 7% | $203. 50 | 87 |
| $701-800K | 5 | $706,000 | 94% | $194 | 276 |
| $801-900K | 1 | $875,000 | 97% | $207 | 110 |
| $901-1M | 2 | $959,500 | 97% | $199. 50 | 58 |
| $1-1.5M | 4 | $1,187,500 | 97% | $280. 50 | 47 |
| $1.5M+ | 1 | $2,485,000 | 84% | $362 | 1180 |
Foley
| Price Range | # of Units Sold | Medium Price | Sale Price as % of List Price | Price per Sqft | Days on Market |
| Less than $100K | 11 | $85,000 | 95% | $68 | 121 |
| $101-200K | 129 | $158,500 | 98% | $94 | 107 |
| $201-300K | 62 | $229,600 | 98% | $97. 50 | 140 |
| $301-400K | 16 | $326,000 | 98.5% | $117.50 | 180 |
| $401-500K | 5 | $425,000 | 94.5% | $145 | 167 |
| $501-600K | 1 | $535,000 | 95. 85 | $160 | 429 |
| $701K+ | 1 | $775,000 | 98% | $183 | 50 |
The real estate market in southern Baldwin County remains strong. Whether you wish to purchase or sell a property, this is a good time to consider jumping in. I would be happy to provide added insight into the market and help you develop a strategy to meet your real estate goals. Don't hesitate to contact me directly at (251) 942-3141 if I can help you in any way!
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Christine Slaughter is an associate real estate broker with Realty Executives of Gulf Shores, Alabama. Originally from Australia (she moved to Alabama’s stunning coast nearly 30 years ago), her love of the sand, sun and seafood are deeply-rooted in her soul.
If you are looking to buy or sell along the Alabama coast (or Florida), you can reach Christine directly at (251) 942-3141 or email her at Christine@ChristineSlaughter.com.
Be sure to follow Christine online at ChristineSlaughter.com, on Twitter@ChristinesCoast or Facebook at ChristineSlaughterRealtor.
Baldwin County Real Estate Market Update
Real estate activity across Baldwin County and specifically along Alabama's Gulf Coast continues to show some very positive signs. The latest statistics from the Alabama Center for Real Estate at the University of Alabama show that condo sales in April surpassed forecasted sales by nearly 8%. In total, 162 condos across the county were sold, or 32.8% more than in March. Overall, condo sales year-to-date thru April have outpaced the Center's forecast for the same period.
At the same time, the medium sales price for April ($274,500) while down by 1.5% versus March is up 2.2% versus April 2015. In addition, inventory contracted in April. Baldwin County currently has 5.7 months of supply of condos available for sale, down from 7.5 months in March 2016 and down from 6.4 months in April 2015.
Also in April, 282 single family homes sold, close to the same number that sold in April 2015. The medium sales price though climbed to $200,500 versus $192,220 in 2015. To boot, the number of single family homes for sale in Baldwin County in April 2016 decreased by 203 units, when compared to the same period last year. Overall, these stats reveal a healthy housing market! Click here to access the Center's entire report.
If you are a potential condo buyer or seller contemplating whether or not to jump into the market, the charts below may be of interest to you. They present sales statistics of Gulf front condos in April and May of this year (by price range and number of bedrooms). In all, buyers purchased 165 condos.
If you are interested in additional statistics (for a particular condo development, for example), don't hesitate to call me. I can also provide information on single family homes in the area. I would be happy to put my expertise to work for you!
GULF FRONT CONDOS SALES STATISTICS:
April 1 - May 31, 2016:
| LIST PRICE | <$150K | $151-$200K | $201-$250K | $251-$300K | $301-$400K | $401K+ |
ONE (1) BEDROOM |
||||||
| # of Units Sold | 13 | 12 | 7 | 13 | 2 | |
| Average Sales Price | $98,000 | $174,000 | $217,000 | $275,000 | $325,000 | |
| Sale Price as % of List Price | 95.5% | 98% | 95% | 96.5% | 96.5% | |
| Average Price per Square Foot | $229 | $292 | $320 | $360 | $409 | |
| Average Days on Market | 88 | 70 | 120 | 115 | 129 | |
TWO (2) BEDROOM |
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| # of Units Sold | 4 | 9 | 7 | 12 | 35 | 4 |
| Average Sales Price | $142,500 | $170,000 | $277,000 | $272,000 | $343,000 | $430,000 |
| Sale Price as % of List Price | 98% | 96% | 97% | 97% | 97% | 97% |
| Average Price per Square Foot | $245 | $216 | $248 | $288.50 | $324 | $341 |
| Average Days on Market | 192 | 177 | 113 | 76 | 96 | 85 |
| LIST PRICE | $300-400K | $401-$450K | $451-$500K | $501-$600K | $601-$700K | $701-$800+ | $801+ |
THREE (3) BEDROOM |
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| # of Units Sold | 6 | 10 | 10 | 9 | 3 | 3 | |
| Average Sales Price | $354,000 | $418,000 | $455,500 | $510,000 | $671,500 | $962,500 | |
| Sale Price as % of List Price | 97% | 96% | 97% | 95% | 98% | 96% | |
| Average Price per Square Foot | $294.50 | $312 | $315.50 | $308.50 | $298 | $418 | |
| Average Days on Market | 100 | 91 | 81 | 166 | 138 | 78 | |
| LIST PRICE | $450-600K | $601-$750K | $751-$900K | $901K-$1.2M | $1.2M + |
FOUR (4) BEDROOM |
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| # of Units Sold | 2 | 3 | 1 | ||
| Average Sales Price | $450,000 | $620,000 | $2.0M | ||
| Sale Price as % of List Price | 97% | 93% | 92% | ||
| Average Price per Square Foot | $187.50 | $295 | $570 | ||
| Average Days on Market | 363 | 464 | 590 | ||
To see all currently-available condos, just click on the links below:
Orange Beach Condos and Gulf Shores Condos
Just give me a call at (251) 942-3141 for more information or to view a property.
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Christine Slaughter is an associate real estate broker with Realty Executives of Gulf Shores, Alabama. Originally from Australia (she moved to Alabama’s stunning coast nearly 30 years ago), her love of the sand, sun and seafood are deeply-rooted in her soul.
If you are looking to buy or sell along the Alabama coast (or Florida), you can reach Christine directly at (251) 942-3141 or email her at Christine@ChristineSlaughter.com.
Be sure to follow Christine online at ChristineSlaughter.com, on Twitter@ChristinesCoast or Facebook at ChristineSlaughterRealtor.
Let Christine help you catch the real estate wave in 2016!
