Market Trends

June 2016 YTD Numbers

June 2016 YTD Market Update

(613 listings)
  Low High Average Median Total
List Price $24,000 $2,160,000 $329,380 $308,000 $201,909,772
Selling Price $20,000 $2,000,000 $315,690 $294,000 $193,517,764
Sold/List(%) 78.57% 110.49% 95.79% 96.18% --
Price/SqFt ($) $61.01 $570.78 $259.00 $272.11 --
Days on Market -2 2855 168 110 --

For a complete list of sales in OB/GS YTD click here. This link will expire in 14 days. 

For comparison here are the numbers from LAST YEAR at this time:

(642 listings)...

2015 RECAP

 Here is a link to all the 2015 sales This link will expire on February 15, 2016 so if you need this information after this date, please call us. 

Another year bites the dust...

If you just look at the straight numbers from 2014 compared to 2015, you might think that this past year was a bit of a disappointment. That might change if you dig into the numbers a bit more. Here are the comparisons from 2014 and 2015 for Beachfront Condos in Orange Beach, Perdido Key, Gulf Shores and Fort Morgan. In EVERY category, 2015 did not perform as well as 2014.
2014 2015
High Selling Price $2190000 $1660000
Average Selling Price  $419411 $372536
Average % List/Sold 96.23 95.83
Average DOM 132 168

However, you have to keep in mind that 181 units closed in the Phoenix West 2 and Turquoise Place buildings during 2014. If you REMOVE them from the comparison, the numbers look like this:


Turquoise Place Historic Numbers

Several of our clients have asked that we share with them the price history on Turquoise Place in Orange Beach. Our MLS goes back to late 2009 but here are the results: 

If you would like to view the interactive spreadsheet, please let us know and we will send you a copy. 

Chart of historic numbers at turquoise place

Date C Building 3BR D Building 3BR C Building 4BR D Building 4BR
12/1/2009  $      952,098.00  $  1,000,000.00  $  1,672,747.00  $  1,550,096.00
1/1/2010  $      952,098.00  $      955,777.00  $  1,672,747.00  $  1,625,000.00
2/1/2010  $      952,098.00  $      955,777.00  $  1,672,747.00  $  1,550,096.00
3/1/2010  $      952,098.00  $     ...

August Updates

Orange Beach, Gulf Shores & Perdido Key Real Estate Updates

Can you believe it is almost fall?! Our son, Attison, will start back to school on Monday and (don't tell him) we are excited to have him out of the house for several hours each day. I am loving seeing all of your facebook and instagram posts with your kids and grand kids heading back to school. You can look for ours on Monday.
Since we are almost 3 quarters through the year, I figured I would do a year to date update for you with both home and condo sales here on the coast. 
There have been 240 homes that have sold since January 1st of this year in Orange Beach, Gulf Shores (south of the intracoastal) and Perdido Key. This is 31 more homes sold than the same period last year and the average selling price has increased by about 41k as well. This is great news as the housing market has lagged behind the condo market as far as the recovery has gone. 

(240 listings)
Low High Average Median Total
List Price $62,000 $2,500,000 $422,742 $328,750 $101,458,100
Selling Price $58,500 $1,850,000 $393,264 $317,000 $94,383,414
Sold/List(%) 74.00% 102.67% 94.33% ...

Junonia Beach Resort in Orange Beach Al.

PreConstruction in Orange Beach

Junonia Beach Resort in Orange Beach

Junonia Beach Resort is a new condo project in Orange Beach Alabama which will have 97 units with 3 and 4 bedroom condos. The complex is located in the heart of Orange Beach with walking distance to shopping and retail. The Developer has released the condos for sale and expects to sell out by the end of the year. Contact SeaMitchell Realty for complete details and floor plans, we can answer your questions and  reserve your condo Today!

Junonia Beach Resort by Seamitchell

For complete details, floor planavailable units just contact us at 

Sea You at The Beach!!!


Gulf Coast Condo Sales

The Gulf Coast Market Report:

Baldwin County condo sales, which include condos along the Gulf Coast, improved 28.3 percent in September from the same period a year earlier. Through the month of September (YTD), condo sales are up 9.3 percent compared to 2012.

Click here to view or print the entire monthly report compliments of the ACRE Corporate Cabinet.
Historical Sales.jpgView full sizeBaldwin County condo sales up 28% in September. Inventory now down 55% from its September 2008 peak. Infograph courtesy of ACRE. All rights reserved.
Supply: Baldwin County condo inventory totaled 974 units, a decrease of 1.9 percent from September 2012. The level increased by 12 units or 1.2 percent from the prior month.  Historical data indicates that September inventory on average (Â?2008-2012) decreases from the month of August by 3.9%. Condo inventory during the month of September peaked in 2008 at 2,145 units. The inventory is now down 54.6% from the peak. In September, the months of condo supply stood at 8.3 months, a decrease of 23.5 percent from 10.8 months last September. In September 2008, it was 37.6 months of supply. This is the most balanced market during...

Caribe Resort in Orange Beach

Caribe Resort in Orange Beach


Caribe Resort is a spacious Caribbean style resort located in Orange Beach. 

You can also enjoy floor to ceiling views of Perdido Bay and the Perdido Pass from the balconies. Other unique unit features include granite countertops in kitchen and baths, designer stainless steel appliances, a wet bar with wine cooler and ice maker, a full-sized washer/dryer, high-speed wireless Internet access, and much more.

Certainly, Caribe's onsite amenities are world class:

Between the 'C' and 'D' towers is a zero-entry, three-tier pool with three tubular water slides and two hot tubs.'Kids of all ages' will be lined up to shoot down these slides. 

On the upper-deck, you will find a three-tier pool AND SIT BACK on an inner tube and relax as you float along our 980 foot long lazy river. Located on the upper-deck, our 18 inch deep lazy river has jets that push you along the lush landscaping and beautiful views of the Gulf of Mexico. Around the lazy river is a large sundeck, perfect for sunbathing or gathering with your family and friends. 

Each tower has a heated indoor pool and hot tub. The 'C' and 'D' indoor pools feature a kid-size water slide.

State-of-the-art fitness centers, one in each tower. Workout rooms feature cardio machines with televisions, top of the line strength training equipment and free weights, all with a view of an adjacent indoor pool. 

Practice your backhand on one of three complimentary, well-lit tennis courts. Tennis racquets and balls are available at Caribe Realty's on-site front desk.

Upon entering our lush, landscaped entrance, you can't miss our 10,000 sq. ft. Tiff Eagle, manicured putting...

Turquoise Place Condos for Sale | Orange Beach

Good Morning,
I have put together the latest information about the developer condos and re-sales in the complex. First... the developer is still doing the BP inducement on the 3 and 4 bedroom condos that he has for sale. It is still the 200K off list price on the 3 bedroom units and 300K for the 4 bedroom units, for example unit 2006-D (List price...1.0Mill. - 200K(BP money)= 800K). Currently they have 11 condos under contract and have closed 6 units so far this month. 
Here are all units for sale (click below):
Typical 3 Bedroom Floor Plan:
  • 2,301 FP Typical Unit
  • ‘Net unit area will vary depending on structure’
  • 10’ Ceilings in Bedrooms, Dining and Family Room
  • Tile Floor and Balconies Except in Bedrooms
  • Wall-Mounted Flat Screen TV over Gas Fireplace
  • 3cm Granite Countertops Throughout
  • Pre-Wired for Sound System
  • Developer Reserves the Right to Make Changes
  • Sub-Zero/Wolf Kitchen Appliances:
  • Gas Cooktop, Double Oven with Convection/Microwave, and Counter-Depth Refrigerator
  • Kitchen Aid Appliances:
  • Front Loading Washer and Dryer with Soak Sink in Laundry Room
  • Dishwasher in Kitchen
  • ...

If you like it than you better put a(n) offer on it!

In the past 2 months Chad and I have had multiple clients and customers come into town to look at property only to find that it is underc contract or pending.  Sales are happening faster and faster and the time to wait til you can come to the beach to look at a place assuming that it will still be on the market when you arrive is over.  

53 condos in Orange Beach and Gulf Shores have been listed AND placed under contract or sold since 5/1/2013.  These properties were spending an average of 28 days on the market.  In several instances, these properties have gotten offers in less than a week.  

What does that mean to you, the buyer?  It means that if you see something that you like on paper, the pictures look good, and you don't want to lose it, you NEED TO WRITE AN OFFER.  We can work out the details of the price, closing date, getting you prequalified for a loan etc, all while you plan your "vacation" to come and view the property in person.  

Prices are going up steadily these days and rental numbers are fantastic.  Don't miss out on an opportunity to own your little slice of the beach because you weren't in town when your dream condo came on the market.  Call us today if you have any questions or have a property that you have had your eyes on!


Real Estate Supply and Demand

For some time now, there has been a general feeling in the condo market in Gulf Shores and Orange Beach, that things are on the road to recovery.  We have seen fewer and fewer foreclosures, sellers standing firm on their prices, and little by little, prices going up.  

Supply and Demand is a basic economic principal. The price of a product (a condominium unit) is determined by a balance between production (or in our case Availability) of a product, and the desires of those with purchasing power.

The ACRE division of the University of Alabama just published the May Condo Report for Baldwin County, Alabama.  You may view it here: baldwin_county_condos_April_2013.pdf  It is pretty clear to see, after reviewing the report that the majority of the indicators show improvement over the past several years.  You will notice that the Average Price and Median Price for condos has dropped a good bit since May of 2012.  I wouldn't let this worry you.  One of the largest condo complexes in our area Turquoise Place in Orange Beach, sold 106 units in 2012 at a cumulitive price in excess of 118 million dollars.  I have to say, it skewed the numbers a bit.  

If you are an investor, looking for a steal, we might still be able to find you one.  A great deal will be easier to find, and there are still opportunities for positive cash flow investments here at the beach.  Rentals are breaking records left and right this year, and if you buy now, you can still take advantage of a good portion of the rental season.

If you are a seller and you have been waiting patiently (or not so patiently) while the "fire sales" ran their course, now would be a great time to get back into the market.  Because of the decreased inventory, you may be able to be the only (name the size of your condo) for sale...

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