Million Dollar Property Sales, Last Five Years | Orange Beach | Gulf Shores | Eastern Shore Alabama {11.1.17}
Million Dollar Property Sales in Lower Alabama, specifically Gulf Shores, Orange Beach, Eastern Shore and surrounding area is showing a dramatic increase in demand and closed sales in 2017.
While demand is up for average priced homes and condos along the Alabama Gulf Coast- is the Million dollar real estate market up? Below are the closings for Million + Dollar Property in Baldwin County Alabama since 2012.
Below are a list of sales in Baldwin County Alabama over 1 Million Dollars- for the Last 5 years.
- 2012: 87 Homes or Condos Sold over the $1,000,000 price. The median days on the Market were: 58. The total dollar amount sold was $114,000,000. Making the average sales price: $1.3M.
Drilling these numbers down further, I can tell you- the Million dollar real estate market in Gulf Shores and Orange Beach for 2012, 2013 and 2014 are skewed. I discussed the amazing discounts that were given by the developer of Turquoise Place during those years in a past post. Of the numbers referenced above- 57 of the 87 Million dollar and above closings- were from Turquoise Place Condo in Orange Beach. Without these closings- there would have only been 30 Homes and Condos to sell in Lower Alabama over the million dollar mark in 2012.
- 2013: 78 Homes or Condos Sold in Baldwin County Alabama over the Million dollar price tag. The median days on the market were 64, and the total combined sales amount was $ 95 Million dollars. The average sales price: $1.2 Million.
Once again, in 2013 the numbers are not an accurate reflection with 50 of the 78 closings over 1 Million Dollars belonging to Turquoise Place Condos in Orange Beach.
- 2014: 64 Total Sales over 1 Million Dollars, Median Days on the Market : 86 and a total combined sales amount of $81 Million Dollars. (40 of the 64 Closings that year were from Turquoise Place.) Average Sales Price: $1.3M
- 2015: 60 Total Sales over $1 Million Dollars. Median Days on the Market: 257. Total combines sales of: $80 Million Dollars. (Only 10 of the 60 closings are reflected by TP in this year, which also explains the larger Days on the Market Median number). Average Sales Price: $1.3M
- 2016: 65 Total Sales over $1 Million Dollars. Median Days on the Market: 190. Total combined sales: $91 Million. (Again 10 TP Sales this year) Average Sales Price: $1.4M
- 2017: (As of 10/30/2017- A whole year is not yet reflected in these numbers). So far already 92 Properties selling Gulf Shores, Orange Beach, Eastern Shore and surrounding areas in Baldwin County Alabama over the 1 Million dollar price tag. The Median DOM: 147, with the combined sales total of $125 Million dollars so far in 2017! Average Sales Price: $1.4 Million
UPDATED {03/01/2018} After 2017 closed out- the total number of Million dollar homes or condos that sold in Baldwin County Alabama was: 108, almost as many as the previous two years combined. So far in 2018- there have been 21 Million Dollar + Properties to close. If the market follows this same momentum for the remaining 10 months of 2018, we will be on track to close 126 Million dollar listings!
While the average sales price has remained steady over the last 5 years for property sales over 1 Million dollars, the total number of sales has been steadily increasing over the last several years with a much more dramatic increase in 2017 suggesting an increase in overall consumer confidence.
If you have a property in Gulf Shores, Orange Beach, or Surrounding Baldwin County that is valued over 1 million dollars, now may be the time to consider putting that property on the market. I have a very detailed plan for listing luxury and high dollar properties. The high end buyer isn’t just sitting around searching Zillow. Putting a luxury listing on the MLS and wishing it luck just isn’t going to cut it. I would love to go over the professional marketing tactics and strategies I will put in to place for your high end home. The market and demographic is much different when seeking out the Million dollar buyer and cannot be handled the same as an average priced property.
Let me put my decade of real estate marketing to work for you!
Give me a call today to discuss,
Alisha
251-609-4434
