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

In October, the Baldwin County MLS shows that 89 condos were sold in Gulf Shores and Orange Beach with a median price of $192/sf.  Sales were up pretty strongly at 16%  over 77 sales in October of 2009 when the median price were higher at $227/sf (prices dropped 15% from last Oct.)

Here’s how the sales broke down:

$200K and Under = 41 sales (46%) median price $142/sf (compared to 42% last October with median price = $180/sf)

$200-$400K = 40 sales (45%) median price $229/sf (compared to 40% last October at $238/sf)

$400K and Up = 8 sales (9%) median price $285/sf (compared to 18% last year at $282/sf)

As of this writing, there are 137 condos currently under contract or pending sale in Gulf Shores and Orange Beach.

Year to Date sales for Gulf Shores and Orange Beach are 773 with median price at $195/sf (compared to 2009 YTD through October when we had 798 sales with a median of $237/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                   33%-$156/sf          48% – $134/sf
$200-$400K         46%-$250/sf         41% – $235/sf
>$400K                   21%-$274/sf          11% – $263/sf

Based on these numbers, Gulf Shores and Orange Beach’s October was a lot better than September sales increasing over 100% from last month.  YTD, Gulf Shores and Orange Beach sales are down 3% under 2009 and the median sales prices down 17%.  As I’ve stated in the past, the oil spill seems to have delayed our recovery (especially at the beach), but investors are back with now and units are moving at a pretty decent pace.

If you’d like an analysis like this done for a specific neighborhood, condo 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.