August 2009 Market Report
Greetings from Gulf Shores! What a change of pace now that summer has gone… The rentals have slowed, yet sales activity continues to be strong. As you can see below, there are a large number of condo and single family home listings under contract. We are still seeing a good bit of foreclosures and short sales opportunities. These listings are usually priced aggressively to encourage a quick sale.
Attached below for you is a recap of last month’s sales activity. Please don’t hesitate to email or call me with any questions. Also, if you are interested in information for a specific condominium complex or community, just let me know and I’ll be glad to assist.
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August – Sales Activity for Gulf Shores, Orange Beach & Perdido Key
Condo Active New Avg Under Sold Avg
Sales/Listings Listings Listings Listings DOM Contract Listings Sold DOM
$0-$199,999 335 54 235 35 18 233
$200k-$299,999 350 44 281 33 18 161
$300k-$399,999 305 32 265 21 14 141
$400k-$499,999 270 26 301 12 11 260
$500k-$599,999 154 16 321 6 8 186
$600k-$799,999 124 4 359 7 7 287
$800k-$999,999 79 7 309 2 2 249
$1mill-+ 57 7 290 2 0 0
Total: 1674 190 118 78
Avg active “List” price = $419,881
Avg “Sold” price = $359,268 & Avg “Sold” price to “List” price = 93% & Avg DOM =205
Homes Active New Avg Under Sold Avg
Sales/Listings Listings Listings Listings DOM Contract Listings Sold DOM
$0-$199,999 127 34 210 29 20 131
$200k-$299,999 120 23 211 10 3 454
$300k-$399,999 103 13 252 4 2 274
$400k-$499,999 79 9 290 4 2 538
$500k-$599,999 64 6 275 1 0 0
$600k-$799,999 106 3 307 1 2 69
$800k-$999,999 62 7 306 0 0 0
$1 mill-$1,999,999 71 6 393 2 0 0
$2 mill+ 25 0 438 0 1 309
Total: 757 101 51 30
Avg active “List” price = $627,051
Avg “Sold” price =$258,572“Sold” price to “List” price = 93 & Avg DOM = 202