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.
Demand: As expected, condo sales slipped 15.7 percent from the prior month. This is consistent with seasonal and historical data trends that reflect September condo sales, on average (2008-2012), decrease from the month of August by 13.1 percent.
Pricing: The Baldwin County condo median selling price in September was $311,500, an increase of 58.8 percent from last September and 24.8 percent when compared to the prior month. Historical data trends (2008-2012) reflects September median condo selling price typically increase from the month of August by 4.1 percent. The median condo price is 58.8 percent above its month of August bottom of $196,200 established in 2012.
As the condo market transitions through 2013, continued gradual growth in the rate of sales and pricing is anticipated. Statistical volatility should also still be expected.
Baldwin County Condo Monthly Report is work product developed in conjunction with the Baldwin County Association of REALTORS to better serve both local and worldwide consumers interested in the sandy white beaches along Alabama's treasured gulf coast. The ACRE monthly report is provided to illustrate the "general" market direction & trends when comparing prior periods with the most current available condo data. Real estate is local and statistics will fluctuate between areas along the gulf coast including specific condo properties. ACRE recommends that you consult a local real estate professional for "specific" advice associated with the condo market in Baldwin County.