Realty Executives Gulf Coast
“The pace of U.S. home price gains slowed in June from the previous month, but strong appreciation in the West and South kept growth above the two-year average, according to a monthly report,” according to CNBC News.
Baldwin County totaled 528 units in July residential sales. Although sales is down 0.6 percent from 2015, year-to-date sales are 1.1 percent or 34 units above the same period last year according to the Alabama Center for Real Estate’s (ACRE) monthly forecast. See the report here.
ACRE forecasted 3,090 closed transactions for the year through July, actual sales were 3,231 units, a difference of 4.5 percent. With supply diminishing by some 58% for 2016, this has put a damper on would be sales. With a decrease in supply, the usual sales increase in July wasn’t there. Down by 7.2%, the usual increase from June is around 2.7%.
However, 60% of total sales came from existing single-family homes while only 13% accounted for new home sales. Condos added another 28% of sales.
Median sales prices for July landed around $207,450 which is down by about 4.4% from 2015. See here for historical data.
According to Bankrate, there are 5 Trends to Watch for the Fall.
If you’ve ever considered selling your home to either downgrade, upgrade or retire, now is the perfect storm to do so. Call, text or email me today to set up an appointment. I can offer guidance into what your best strategy will be to make the most out of your home sell.
Realty Executives agents are real estate experts. They have the education and expertise you need to navigate through the process of buying or selling a home. From listing at the right price to making the best offer, our Executives have witnessed the best - and most regrettable - decisions homeowners and homebuyers can make. Every day, they are immersed in every aspect of real estate that includes comparable home price analysis, property surveys, credit reports, open houses, HOA agreements, lenders, title companies, homeowners’ insurance, walk-throughs, terms of sale or purchase, repairs, concessions and closing documents. Let our accomplished Executives help navigate you through the process of buying or selling a home.
