Statistics just released for last month's real estate sales for Baldwin and Mobile Counties still support the fact that it is a perfect time to buy Alabama Gulf Coast Real Estate.
Baldwin County August 2010
- The Average Sales Price in Baldwin County decreased by almost 8% to $199,160
- Average Days On Market increased from 176 to 179
- The Median Sales Price declined almost 6%
- Number of sales have increased in South Baldwin County
Mobile County August 2010
- Average number of days to sell the existing inventory increased to 16. This is called the absorption rate and is calculated by dividing the number of properties for sale by the number of sales. The U.S. average is 8.9. The absorption rate for August of 2009 was 11.43.
- Approximately 83% of total sales were priced under $200,000.
- Approximately 93$ of ALL sales were $300,000 and under.
Since the BP oil spill is over and the well is capped once again buyers are flocking to the Alabama Gulf Coast for waterfront property deals--condos and beach houses. The amount of Distressed Properties on the market at the beach continues to increase making the market excellent for consumers as well as investors.
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