Since it’s development in 2006, Bella Luna Condos were no stranger to the real estate markets ups and downs. As with any piece of real estate its owner hopes it will continue to appreciate up until they are ready to sell. For the most part and historically speaking property has been a pretty stable investment, especially if you are willing to hang on to it for awhile.
Let’s have a look at how the Bella Luna Condos have done over the 5 years.
# of Units Sold Per Year:
2008: 9
2009: 14
2010: 15
2011: 12
2012: 8
2013: 6 (by Mid May with one currently under contract and set to close in June)
If you have been keeping an eye on my monthly overall coastal market reports you will see that 2013 has been a fantastic year for Real Estate thus far. Bella Luna is following suit with that fact showing nearly as many sales by mid year as they had the entire year of 2012.
Average Price per square foot per year:
2008: $307.48
2009: $253.81
2010: $242.75
2011: $245.66
2012: $244.59
So far in 2013: $288.00 , an 18% increase from the 2012 average.
If you are interested in purchasing a Bella Luna Condo, now may be the time to do so. Prices are on the rise again.
Conversely, sellers: if you’d like to get in on the 2013 real estate market activity and you’d like to discuss pricing your condo in line with the market don’t hesitate to give me a call! We will list and effectively market your unit and get it sold for you!
April 2013 mirrored the month prior with inventory and sales remaining steady. Distressed inventory continues to decrease suggesting before long they will be few and far between.
Turquoise Place condos continue to sell at a steady rate, another disappearing piece of the Alabama Gulf Coast inventory. Only a few remain which means only a few $200k buyer credits remain as well.
The Foley market showed well in April with the highest average sold price in more than 2 years, as well as a slowly diminishing distressed inventory.
Check out the numbers below and don’t hesitate to contact me with any questions that you might have!
March 2013 Condo Market Stats
April 2013 Condo Market Stats
Not much change from February with 1149 Active condos on the market currently.
Still steady, 1126 Active Condos on the market
190 Condos are marked Under Contract or pending sale, just up from last month’s number at this time.
Also steady, 188 Under contract or Pending listings currently
The Avg sold price is slightly down to $269,419 even with 5 Turquoise Place condos sold in March.
The Avg sold price is slightly up to $276,470
5 Turquoise Place condos sold, the end is nearing for ownership of a developer unit with a $200k buyers credit…
4 Turquoise Place Condos sold in April leaving only a handful left. Find out more here.
The number of condos sold in March nearly doubles that of February with 137 marked sold.
Nearly identical to last month, 138 condos marked sold this month.
The majority of condos sold were under the $400k mark with only 27 of them being over that price.
31 condos sold over the 400k mark this month.
14% of the 137 units sold in March were distressed sales.
17% of the 138 closed in April were either foreclosure or short sales.
Hanging steady again this month, units sold at an average of 95% of their original list prices.
A steady trend this year, units have sold at 95% their original list price again in April 2013.
March 2013 Single Family Homes
April 2013 Single Family Homes
528 active single family homes for sale in March.
Inventory up slightly: 553 Active homes for sale in April.
78 homes are marked under contract or pending to date.
97 homes marked under contract or pending
Average sold price up: $306,690
Average sold price down slightly: $276,470
Average DOM down: 202
Average DOM: 174
Up again, 47 homes sold in March 2013, The highest number in a year and a half!
Down slightly: 40 homes sold
23% of sales were distressed in march down from Feb.
Only 15% of home sales were considered distressed sales in April.
Foley Homes: March 2013
Foley Homes: April 2013
61 homes sold in the Foley Market in March
Steady, 63 homes sold in the Foley market.
Average sold price is up to $130k in March, climbing slightly
Up this month! Average sold price $157k with the median sold price also up at $141k
34% of sold homes were distressed, a large decrease from the previous month!
Way down in April, sales considered distressed: only 22% this month.
Days on the market also down to 149 this month.
Average DOM: 140
The Alabama Gulf Coast Real Estate Market is coming on strong in 2013. Sell while the selling is hot, buy before the prices climb any more!
If you have any questions regarding our real estate market, trends, or any other real estate need please don’t hesitate to contact me!
Turquoise Place Condominiums in Orange Beach are the most prestigious and beautifully appointed luxury condos on Alabama Gulf Coast. It’s no surprise that these units have been “flying off of the shelves” since the $200,000 buyer credit was added to the purchasing equation.
As of today there are only 8 three bedroom developer units available. Once these are gone, so is the $200k buyer credit! Of course there will always be the opportunity to purchase resale units from private owners, but how likely do you think they will be to pass their $200k savings on to you?
If you have been interested in Turquoise Place, or have contemplated ownership. Now is the time to act. It’s now or never (if you want to take advantage of that savings – that is!)
Contact me for a complete listing of which units are still available or for further information about Turquoise Place Condos in Orange Beach!
Large amounts of prime commercial property has just been waiting to be picked up for many years now. The time has finally arrived! Over 600 acres of land have recently been purchased and approved for a Foley entertainment and tourism complex. The entertainment acreage sits along the Foley Beach Express near the county Rd. 20 intersection. The Blue Collar group is behind the development and plans to develop such highlights as an Ampitheatre, RV park, amusement rides and more. Read more from the AL.com article below:
Mega entertainment, sports tourism project in works in Baldwin CountyIn what Foley Mayor John Koniar calls a cross between Branson, Mo., and Six Flags, a proposed entertainment development called Blue Collar Country has been pitched for a 600-site within the city. The attraction would include an amphitheater, other performance venues, hotels, an RV resort, retail shops, restaurants and other amenities.
This amazing newly developed beach home could be an amazing opportunity for the right person. Home sleeps 30 and could be a rental money making machine! Fully Furnished and Rent-ready-
March 2013 continues to show the strength of the Alabama Gulf Coast Real Estate market! Improvements across the board can be noted in Condos, Single Family Coastal Homes and Foley Single Family Homes as well. Numbers increased and decreased dramatically from the prior month in all the right places.
The condo market witnessed nearly double the amount of sales from last month which was also a 20% increase from the number of condos sold this time in 2012. The inventory stayed steady with nearly the exact same amount of available units on the market. If sales continue to soar with inventory remaining steady, we’re sure to see prices on the rise.
The Coastal Single Family market had another increase in the number of homes sold this month. While last month’s number was the highest we had seen in 9 months, this months increase was the largest number sold in this category in a year and a half!
Distressed numbers continued to fall in all categories (Gulf Shores/Orange Beach/ Perdido Key/ Fort Morgan Single Family Homes had almost a 50% decrease in distressed sales while the Foley market’s distressed sold number dropped from 55 to 34%) another good indication of a strengthening real estate market.
February 2013 Condo Market Stats
March 2013 Condo Market Stats
1146 Condos active on the market in February
Not much change from February with 1149 Active condos on the market currently.
6% of active listings are distressed again this month
Distressed actives down to 4% this month
178 units are under contract or pending sale
190 Condos are marked Under Contract or pending sale, just up from last month’s number at this time.
26% of Under Contract units are distressed
25% of Under Contract listings are considered distressed, a slight decrease from February
Avg Sold price remains steady at $276,466
The Avg sold price is slightly down to $269,419 even with 5 Turquoise Place condos sold in March.
73 Condos sold in February 2013
The number of condos sold in March nearly doubles that of February with 137 marked sold.
61 of the 73 units sold were under $400k
The majority of condos sold were under the $400k mark with only 27 of them being over that price.
19% of sold units were distressed
14% of the 137 units sold in March were distressed sales.
Units sold at 95% of their final list price this month
Hanging steady again this month, units sold at an average of 95% of their original list prices.
February 2013 Single Family Homes
March 2013 Single Family Homes
513 active homes for sale in February
528 active single family homes for sale in March.
3% of active listings were distressed
Once again, 3% of these active listings are distressed.
73 homes are currently pending or under contract
78 homes are marked under contract or pending to date.
.Again 39% of the homes that are under contract are considered distressed (Short Sale or Foreclosure)
Way down this month, the under contract distressed homes only make up 22% of the total (nearly 1/2 of last months percentage).
Average sold price: $ 255,285
Average sold price up: $306,690
Average days on the market: 244
Average DOM down: 202
40 homes sold in February 2013! (The highest number of Home sales in 9 months).
Up again, 47 homes sold in March 2013, The highest number in a year and a half!
25% of the sales were distressed.
23% of sales were distressed in march down from Feb.
Foley Homes: February 2013
Foley Homes: March 2013
51 homes sold in the Foley Market in February
61 homes sold in the Foley Market in March
Lower yet in Feb, the average sold price is $122,146.
Average sold price is up to $130k in March, climbing slightly
55% of homes sold were distressed
34% of sold homes were distressed, a large decrease from the previous month!
Average days on the market: 171
Days on the market also down to 149 this month.
The Alabama Gulf Coast Real Estate Market is coming on strong in 2013. Sell while the selling is hot, buy before the prices climb any more!
If you have any questions regarding our real estate market, trends, or any other real estate need please don’t hesitate to contact me!
I have been following the sales and availability of the Turquoise Place Condominiums over the last year. There have been several posts regarding this activity. For the year in review check out the posts here.
Turquoise Place Condominiums in Orange Beach Alabama had a big year in 2012. Total- 106 Turquoise place units closed in 2012! The majority of the developer units were sold and the availability is now almost diminished. Due to this it’s no surprise that the momentum has slowed down slightly. So far in 2013 there have been 6 Turquoise Place units sold. With a much smaller inventory to choose from and prices up slightly from last year there are only a few left to choose from. Here’s a quick update on the availability of Turquoise Place availability as of today’s date in March of 2013.
According to Turquoise Place sales associates the following developer units are still available for sale:
(All pricing is after the BP Inducement of $200,000 has been subtracted. All units are sold unfurnished unless specified otherwise. )
* $775,000 (3 units)
2507,2508,2708
*$800,000 (5 units)
1905,2004,2105,2106,2304
*$810,000 (+$10,000 tile upgrade) (3 units)
2306,2406,2706
* $850,000 (last “03″ unit below 28th floor) (1 unit)
2503
If you would like any further information about any of the above available units please do not hesitate to contact me. Units won’t last long! Contact me today!
February was active for the Alabama Gulf Coast Real Estate Market. Inventory increased as well as the number of sales. In fact, the number of single family homes that sold in February was the highest number of homes sold per month in the last 9 months!
The number of overall distressed properties in the active market are still shrinking and should not be considered a major factor in any purchasing decisions in our market. Distressed properties simply aren’t plentiful enough to have the mindset that “you are only considering a foreclosure for purchase.”
Moving into warmer weather with spring steadily approaching, it is likely that the momentum of area sales will continue. Properties that are priced correctly are not lasting long on the market, so if you are ready to make a purchase- be sure you have all of your ducks in a row. Getting your financing in order ahead of time is an essential bargaining tool in picking up a good deal before someone else does!
January 2013 Condo Market Stats
February 2013 Condo Market Stats
1065 Condos for sale on the market in Jan
1146 Condos active on the market in February
6% of listings are distressed this month
6% of active listings are distressed again this month
116 of listings are Under Contract pending sale
178 units are under contract or pending sale
33% of Under Contract are distressed
26% of Under Contract units are distressed
Average Sold $ 276,090
Avg Sold price remains steady at $276,466
70 Condos sold in January 2013
73 Condos sold in February 2013
59 of 70 sold under 400k
61 of the 73 units sold were under $400k
6% of sold condos were distressed sales
19% of sold units were distressed
For the third month in a row, condos sold at approx 94% of their final listed price
Units sold at 95% of their final list price this month
January 2013 Single Family Homes
February 2013 Single Family Homes
499 active homes for sale in January
513 active homes for sale in February
Again 4% of active listings were distressed
3% of active listings were distressed
50 Homes are currently pending sale and under contract
73 homes are currently pending or under contract
Again 39% of the homes that are under contract are considered distressed (Short Sale or Foreclosure)
30% of the homes that are under contract were distressed.
Average sold price: $287,375
Average sold price: $ 255,285
Average days on the market: 188
Average days on the market: 244
16 Homes sold in January 2013
40 homes sold in February 2013! (The highest number of Home sales in 9 months).
Only 13% of the sold homes were distressed sales this month.
25% of the sales were distressed.
Foley Homes: January 2013
Foley Homes: February 2013
This month 45 homes sold in the Foley market
51 homes sold in the Foley Market in February
Average sold price dips a bit: $136,165
Lower yet in Feb, the average sold price is $122,146.
40% of homes sold were distressed
55% of homes sold were distressed
Average days on the market: 139
Average days on the market: 171
If you have any questions regarding our real estate market, trends, or any other real estate need please don’t hesitate to contact me!
Ancient underwater forest off Alabama is much older than scientists thoughtThe ancient forest found 60 feet underwater about 10 miles offshore of Alabama is much older than originally thought. I collected samples of the trees during an AL.com scuba diving expedition to the forest. Those samples were sent to the Lawrence Livermore National Laboratory for radiocarbon dating and found to be more than 50,000 years old.
January real estate sales along the Alabama Gulf Coast and Foley markets stayed fairly steady from the previous winter month. There were slightly fewer sales in January than in December in all categories, but this is a cyclical trend that has held true in our market year after year. But as the sales history seems to repeat itself we should see sales slowly start to climb starting next month and peak near April or May (assuming no Acts of God present themself).
Inventory increased this month suggesting people are seeing the positive moves our Alabama Gulf Coast Real Estate market is making, which is helping people to finally feel “ready” to sell!
December 2012 Condo Market Stats
January 2013 Condo Market Stats
1030 Condos listed for sale in December
1065 Condos for sale on the market in Jan
5% of listings are distressed again in December
6% of listings are distressed this month
89 of these actives are currently Under Contract
116 of listings are Under Contract pending sale
36% of Under Contract are distressed listings
33% of Under Contract are distressed
Average Sold $ 290,679
Average Sold $ 276,090
95 Condos sold in December
70 Condos sold in January 2013
79 out of the 95 sold were under 400k
59 of 70 sold under 400k
9.5% of sold condos were distressed sales
6% of sold condos were distressed sales
On Average condos sold at 94% of list price again in December
For the third month in a row, condos sold at approx 94% of their final listed price
December 2012 Single Family Homes
January 2013 Single Family Homes
408 active homes for sale in December
499 active homes for sale in January
4% of homes listed were distressed
Again 4% of active listings were distressed
33 homes under contract this month
50 Homes are currently pending sale and under contract
39% of homes Under Contract are distressed
Again 39% of the homes that are under contract are considered distressed (Short Sale or Foreclosure)
Average sold price in December is UP: $323,293
Average sold price: $287,375
Average days on the market dropped: 119
Average days on the market: 188
December 2012: 37 Homes sold in Gulf Shores Market (Gulf Shores, Orange Beach, Fort Morgan and Perdido Key)
16 Homes sold in January 2013
22% of the homes sold were distressed sales
Only 13% of the sold homes were distressed sales this month.
Foley Homes: December 2012
Foley Homes: January 2013
Once again 53 homes sold in the month of December in the Foley Alabama market!
This month 45 homes sold in the Foley market
Again, the sold price climbs: $147,044 (average)
Average sold price dips a bit: $136,165
Distressed sales dropped a little this month to 38%
40% of homes sold were distressed
Average days on the market in December: up to 156
Average days on the market: 139
If you have any questions regarding our real estate market, trends, or any other real estate need please don’t hesitate to contact me!
