Turquoise Place Resort is one of the most expensive condominium projects on the Alabama Gulf Coast. The development was originally slated to be a 4-tower complex enclosed in emerald glass, with views of the Gulf of Mexico as far as the eye could see. Sadly, the project lost momentum during the economic downturn and the final two phases of the resort were placed on the back burner indefinitely. What remains are two of the tallest and most spectacular high-rise towers on the gulf beach.
Some would argue the BP oil spill disaster was the saving grace for Turquoise Place, which faced utter collapse prior to the sizable rebates they were able to offer buyers as a result of millions they received from the oil giant. My two cents is that the claim money they received from BP gave them the spark they need to attract high-end buyers and become the hottest selling new construction development in Baldwin County, AL.
So lets take a look at the numbers since 2012 to see how Turquoise Place has been performing on paper over the last few years. A whopping 106 units were sold in 2012, the highest sales price of which was just under 2 million bucks, with an average sales price of just over 1 million. Notice the percentage of list price that the condos were selling for, which shows that there was absolutely zero room for negotiation. Pretty amazing stats, given the economic conditions and the price tag of these units!
Quick Stats 2012
|Days on Market||1||484||42||21.5||
A total of 56 listings sold in 2013. Our market saw a slow down across the board due to the government shutdown. The BP sales credits were likely wearing a little thin at this point, yet the sales volume is still phenomenal given the turbulence in the economy and the price points of these units. I would note that the Average Sold Price ticked up a bit and we will observe upward pricing trends continuing 2014.
Quick Stats 2013
|Days on Market||1||431||78||45||--
A total of 44 units have closed YTD in 2014. The high sales price has risen by over $200K from the prior year and the Average Sold Price Per Square Foot is up $18.80 since 2013. The lowest sales price is up $30,000 from the prior year and with the increase in pricing, we see the days on market rise from 78 to 91 days.
Quick Stats YTD 2014
|Days on Market||1||505||91||51||--
For a private tour of the active units for sale at Turquoise Place Resort Orange Beach AL, call the sales office of the Jason Will Real Estate at 251-866-6464.