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July 2024 Alabama Gulf Coast Real Estate Stats
Alabama's Gulf Coast contains several real estate markets depending on location and price point—just to name a few factors. The graphic below shows real estate statistics for July 2024, the latest month available.
Vital Signs provides a visual representation of what's happening in the Alabama Gulf Coast real estate market. The color-coded numbers represent the absorption rate; the number of months it would take to sell every home on the market in a particular price range if no others were added. If the market is moving quickly, the absorption rate will fall below six months of supply, and if it's more of a buyer's market, it will jump above six months of supply. The rate is determined by dividing the number of units currently on the market by the number sold in the past month.
Transactions throughout July 2024 kept Baldwin County in a seller's market for just about all price points and markets throughout the county. The condo markets in Gulf Shores and Orange Beach, again, remain the exception, with decent inventory levels that point to a buyer's market there. July in Mobile County was just about half seller's market, half buyer's market. The seller's market shifted to properties ranging from $100k to $500k depending on the specific area, hence the slight drop in average sales price in the county ($255,694). However, Mobile County still has a few balanced markets here and there depending on the price point and specific area.
For updated information for your specific neighborhood, as some are still experiencing low supply in certain price points, contact your Bellator agent today.
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