by Super Admin
on Friday, May 16th, 2014 at 3:03pm.
Condo sales along the gulf coast is always a hot topic. Many of these purchases are not only for investors but also being bought and sold by end users. Condo sales along our Alabama beaches are also a great indicator of the confidence level of the Baldwin County market in general.
In March '14 there were 108 units sold. Although this is 15% less than last March is it within a common range for early Spring condo sales. The average condo in March sold for $367,499 or 33% over last March's average. Although there are several mid to low price condos on the market we have seen an increase in activity at some of the higher end resorts such as Turquoise Place Condos in Orange Beach. We have seen the number of days it takes to sell a condo decrease over the past few months. During March 2014 it took 141 days (4.7 months) on average for a condo to sale. During the month of March there were 50 new condos listed for sale. These units along with condos that were currently listed provided a 9.9 month supply of condos. Buyers - this indicates it is still a Buyer's market! Sellers let's make sure we are priced right and showing well.