Gulf Coast Real Estate Blog

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2008: A year of {Positive} Change along the Alabama Gulf Coast?

Growing up on this island one becomes very sensitive to change. Overnight the flood of beach loving tourists arrive on Paradise Island and then one day, you wake up, and they all seem to have vanished into the quiet waters of the Gulf of Mexico - it is almost like magic...or clockwork.

It is so interesting to watch and analyze the cycle of seasons, life, nature, or my favorite, the local Alabama Gulf Coast and Perdido Key, Florida Real Estate Market. Over the last 2 years, change in our local real estate market has definitely been on my mind. A few times, I thought that my ultra-sensitive ability to detect change was occurring. A surge of business and activity had me looking forward to good times ahead, but I would soon find out that what I was sensing was not reflected in the actual data. Over the last couple of years, I have analyzed sales data monthly and quarterly to understand current market conditions in our area. From around the second quarter of 2005, the outlook and trends were bleak, to say the least. However, this year, I have begun to share my analysis with clients and associates because it is wonderfully refreshing to find that the data is turning out to be quite POSITIVE!

Please take a moment to look over the graph below that I have prepared with sales data from Gulf Front Condo sales starting in the first quarter of 2004 through the second quarter of 2008. You will see that sales volume dropped each quarter from 2004 through 2007. This year, for the first time since 2003 to 2004, we are seeing a consistent increase in sales volume each quarter and each month over the previous year. In addition to the increased sales, we are also noticing some signs of price stabilization. So far, the numbers continue to look strong for the 3rd quarter of 2008.

 Gulf Front Condo Sales Analysis

Fall is one of the most amazing seasons we have here along the gulf coast (although, I must admit I love them all). The fall is full of days that are not too far from perfect: crystal clear gulf waters, bright sunny skies, perfect temperatures, and wonderful dry air!! It is a lovely change when you have had just enough of summer!! I predict that our glorious fall season paired with great prices and better financing options will continue to stimulate our area's real estate market and create more POSITIVE CHANGES AND TRENDS - I am looking forward to sharing this info with you soon!

Please feel free to call or email me with any thoughts or questions. Visit www.BuytheBeach.com for more market analysis, local MLS search, and more!

 

 

Comment balloon 4 commentsElizabeth Helton • August 17 2008 11:15PM

Comments

lets hope Fay stays East

Posted by Tim Hawkins, Realtor Pell City, Pell City Real Estate (Remax Realty Pros) about 9 years ago

Loks like we are in the clear for now - 5% chance, I can deal with! I just hope and pray the storm is a non-issue for ths US in general - may Fay be VERY WEAK!!

Posted by Elizabeth Helton (RE/MAX of Orange Beach) about 9 years ago

An inverse ratio.  Prices go down so sales go up.  Most are still happy.

Posted by John Walters, Licensed in Louisiana (Frank Rubi Real Estate) about 9 years ago

Liz - glad to hear that the coast is warming up sales wise.  Maybe some of those sellers will want to roll it into a Lake Martin home! Ha!

Keep up the great work.

Posted by John Coley (Coley Real Estate) almost 9 years ago

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