Realty Executives Gulf Coast
Last month Baldwin County was dubbed “Alabama’s Undisputed King of Growth,” by AL.com’s John Sharp. He made a pretty good case stating that Baldwin County’s population has grown by some 21,444 since 2010. This places Baldwin County as the fastest growing county in the whole state of Alabama. Slightly behind Madison and Lee Counties, these three make up for 49% of all the state’s population growth.
What this transcends into is an increase of 6% in home sales. The number of residential sales shows a 39% rise since 2011, according to the Baldwin County Association of Realtors. What’s more, it’s not stopping. Baldwin County averaged 3,000 new residents in 2015. Each year shows a steady increase in home sales as well as population growth.
The average time for homes to stay on the market in March was close to 145 days compared to 173 days in 2012. The Average days on the market for April increased by 20. Prices have settled and seem stagnant but gone are the days of foreclosures. These are few and far between. Prices for new homes have decreased to an average sale figure of $233,618 from $235,768. However used home prices have increased to an average of $249,004 from $231,702 in March.
New listings in April took a dip of around 90 less than annual average and March’s new listing numbers. Used home listings reached an all time low in April with an average of 3,243 for all of Baldwin County. New home listings were at around 448 at the end of April. Keeping inventory continues to be a real need.
Local industries such as Airbus, the University of South Alabama and UTC Aerospace Systems in Foley have added new jobs at an amazing rate, which in turn creates a higher demand in home sales. The projection of individuals hitting retirement age of 65 by the United States Statistics board gives a number of some 60 million by 2020. This phenomena is also a contributing factor in home sales. Baldwin County is becoming a strong leader in the places retirees are heading. Snowbirds are another factor that will support more growth in the coming months as retirement allows them more freedom. The Alabama Gulf Coast has long been a favorite among snowbirds.
What does this all mean. It means that the Alabama Gulf Coast continues to grow and offers an affordable, safe community to live, vacation or invest in.
If you are in the market to sell or purchase property along the Alabama Gulf Coast, give me a call today. I have the experience to help you make the right decision that bests fits your lifestyle.
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.
