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November 2024 Alabama Gulf Coast Real Estate Stats
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 or 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.
If you're looking to buy a condo on the coast, Orange Beach and Gulf Shores continue to be the strongest buyer's market in Baldwin County, with plenty of inventory and minimal sales. The Eastern Shore is almost entirely a seller's market. After November, there looks to be less than six month's supply in each price point throughout Daphne, Fairhope, and Spanish Fort.
The trend remains the same in Mobile County through the month of November. The county still has plenty of inventory to go around in just about every single market and price range. Average single-family home price increased this month, but total number of sales declined.
Both counties continue to provide balanced markets depending on price range and specific city or area in the county.
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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