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2008 MONTHLY REPORT FOR GULF SHORES, ORANGE BEACH & FT. MORGAN
| JUNE |
No. of Sales
May / Jun |
Now For Sale
May / Jun |
List to Sales |
Average Price |
| Water Front Land |
1 / 1 |
267 / 265 |
87.34% |
200,000 |
|
Houses
|
28 / 15 |
839 / 844 |
93.75% |
476,153 |
| Condos |
66 / 60 |
2250 / 2176 |
91.71% |
377,444
|
| Condos Detail: |
No. of Sales |
Condos For Sale |
Foreclosures |
|
| 100 - 250k |
24 / 20 |
378 / 384 |
8 / 6
|
|
| 250 - 450k |
21 / 21 |
706 / 667 |
3 / 3 |
|
| 450 - 650k |
16 / 11 |
635 / 601 |
1 / 0 |
|
| 650 - 850k |
5 / 5 |
275 / 279 |
-0- / -0- |
|
| 850 - 1 million |
0 / 1 |
119 / 109 |
-0- / -0- |
|
|
1 million +
|
-0- / 2 |
143 / 136 |
-0- / -0- |
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The total inventory decreased by almost 75 units with half of these in the 250k- 650k range. The average sales price increased from 326,800 to 377,444 in June. The number of closings remained about the same. Interestingly, the number of foreclosures DECREASED from 27 to 12 in May and 9 in June. There were two condo sales over 1 million and neither came from Turquoise where the first tower is beginning to close out.
CONDOS: The Sales Price to List Price decreased slightly hovering around 92%.
HOUSES: The number of sales dropped from 28 in May to 15 in June although the average sales price went from 346,422 to 473,153. However, there are 844 houses for sale. The List Price to Sales Price decreased slightly from 94.16% to 93.75%
WATER FRONT LAND: There was only one land sale but it was for $1,050,000. Again another month with a higher price paid for waterfront property.
Time Will Tell The first tower of Turquoise is complete and it looks great ! The buyers have been given their 21 day notice to close. The prices started at 1.3 million with a 20% Earnest Money deposit. It will be interesting to see how many units are closed as scheduled. A very high or a very low percentage will definitely make a statement about our market. Time will tell. OTHER
1.This month's CyberTips
2. Upcoming events at The Wharf:
Events Calendar
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