HERE’S WHAT YOU’LL FIND COVERED BELOW:
Total Condo Sales in February
Beach condo sales did see a slight decrease over the same time last year of 0.9%, however you can see from the Annual Trends that overall sales are up year to year.
Annual Sales: Trends
Condo sales in Orange Beach and Gulf Shores has had steady growth for the past several years. For 2017 sales for the year increased by a total of 180 units which represents a 11.2% increase. Over the last 5 years, there has been an average of 22.3% growth.
Median Sales Price
To find the median sales price you look at all of the sales prices in numerical order and pick the middle figure. As you can see from above the median sales price has been growing for the last 3 years. For February 2018, the median sales price increased by 14.1% over the same time last year.
Total Condos Listed
The number of condos that are listed for sale in Orange Beach and Gulf Shores are down by 49 units from February 2017. This is a decrease of 6.5%. The 5 year average represents a decrease of 24.4%.
Average Sales Price
The average sales price is represented by taking the sum of all prices and dividing it by the total number of units. There was an increase of 11.4% for the average sales price for condos at the beach over last year. Over the last 5 years, there’s an overall increase of 20.2%.
Days on the Market
The length of the time that a property sits on the market is always a great indicator of the real estate conditions. Last February numbers indicate a significant decrease over the last several years which means the condo market is very strong. For Days on the Market, there was a 54.4% decrease over the same time last year.
Are you buying or selling a condo in Gulf Shores or Orange Beach? I hope you found this information useful and I would love to work with you! Please visit the following links for additional information and available listings.
The post Alabama Gulf Coast Condo Sales – February 2018 appeared first on Condos and Homes for Sale in Gulf Shores and Orange Beach, AL..