September Sales for Condos in Gulf Shores and Orange Beach, AL

September Sales for Condos in Gulf Shores and Orange Beach, AL

By Fairhope Realty Group
 
In September, the Baldwin County MLS shows that 41 condos were sold in Gulf Shores and Orange Beach with a median price of $211/sf.  Sales were down tremendously at -60%  from 101 sales in September of 2009 when the median price were slightly higher at $220/sf.

Here’s how the sales broke down:

$200K and Under = 18 sales (44%) median price $133/sf (compared to 34% last September with median price = $150/sf)

$200-$400K = 17 sales (42%) median price $235/sf (compared to 47% last September at $241/sf)

$400K and Up = 6 sales (15%) median price $317/sf (compared to 20% last year at $265/sf)

As of this writing, there are 149 condos currently under contract or pending sale in Gulf Shores and Orange Beach.

Year to Date sales for Gulf Shores and Orange Beach are 685 with median price at $195/sf (compared to 2009 YTD through September when we had 724 sales with a median of $238/sf)

A breakdown of YTD sale for Gulf Shores and Orange Beach are as follows with percent of total sales and median price per range:

Range                              2009                         2010
<$200K                   32%-$155/sf          48% – $133/sf
$200-$400K         47%-$250/sf         41% – $237/sf
>$400K                   21%-$273/sf          11% – $262/sf

Based on these numbers, Gulf Shores and Orange Beach’s September was a lot worse  than the county’s with sales increasing 60% from last September.  YTD, Gulf Shores and Orange Beach sales are down 5% under 2009 and the median sales prices down 18%. 

As I’ve stated in the past, the oil spill seems to have delayed our recovery (especially at the beach); it seemed to have been  coming back strongly August with a lot of sales (relatively speaking) and low prices, but September was very slow again.  There is little doubt that now is the time to buy at the beach.

If you’d like an analysis like this done for a specific neighborhood or town in Baldwin County, AL, please feel free to call or email me and I’ll be glad to put one together for you.

Also, if you’d like more information on the Fairhope, Orange Beach, Gulf Shores, Daphne or Baldwin County  markets, or on specific properties down here, feel free to email me at Terryl@FairhopeRealtyGroup.com; or call me at 251-990-8838.
You can also visit my web-site and search the MLS on your own at www.FairhopeRealtyGroup.com.