June 2013 {Gulf Coast Real Estate} Monthly Market Review

by kddoggett on July 17, 2013

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The Alabama Gulf Coast Real Estate Market remains strong.  With May 2013 putting on quite a show, June at first glance would seem to have taken a dive.  However when a comparison to 2012 is studied, 2013 is still outperforming.

This month I have eliminated the distressed #’s from the Pleasure Island report as they are merely a miniscule measure in the equation to date.  The Foley market still sees between 1/4 and 1/3 of it sales to distressed properties monthly and will continue to be included until it’s numbers dissipate as well.

 

May 2013 Condo Market Stats June 2013 Condo Market Stats
 931 Active units on the market  1089 Active units
180 Under Contract or pending listings currently  170 UC or Pending
The Avg sold price: $280,647  Average Sold $: 310,418
Again, 139 Condos sold 129 Condos sold in June
26 selling over the 400k threshold  32 units sold over 400,000 dollars
And again, units sold @ at average of 95% of their original list price.  95% of list price once again
May 2013 Single Family Homes  June 2013 Single Family Homes
487 Active homes for sale on Pleasure Island, bringing inventory down slightly and encouraging demand.  565 Active homes for sale (Gulf Shores, Orange Beach, Fort Morgan, Perdido Key)
 90 homes marked under contract or pending  64 Under Contract or Pending
Average sold price up: $342,176  Average sold price down slightly: 294,870
Average Days on the market: 205  Average DOM: 218
63 homes sold! Up from last months recent history record (The most sold in at least the last 8 years).  49 Homes Sold in June.
Foley Homes: May 2013  Foley Homes: June 2013
3 months in a row: 63 homes sold.  50 Homes sold in the Foley market in June
 Average sold price : $134,062  Average Sold price steady in Foley: $130,082
Only creeping up slightly: 24% of homes sold were distressed.  26% of the homes sold were distressed in June.
 Avg. DOM: 156  Avg. DOM: 171

The Alabama Gulf Coast Real Estate has continued to gain momentum.  Get your home on the market while inventory is still low to reap the benefits of high demand!

If you have any questions regarding our real estate market, trends, or any other real estate need please don’t hesitate to contact me! ~Kristy 251-747-2146

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