View full sizeAlabama real estate at the Gulf Coast, condo sales up 38% from last year. Market now up 60% from trough set in March 2007. Infograph courtesy of ACRE. All rights reserved.

March condo sales along the Alabama's gulf coast in Baldwin County experienced an 37.9 percent increase when compared to last March. Gulf coast condo sales have now risen 60 percent from the market sales trough set in March 2007 (see chart).

Year-to-date (YTD) condo sales during the first quarter have also increased by 7.7 percent.

Supply: Baldwin County condo inventory totaled 1,069 units, a decrease of 17.8 percent from this time last year and a 1.1 percent decline when compared to the prior month. Historical data indicates that March inventory on average (’07-’11) traditionally increases from the month of February by .9 percent.

Demand: Gulf coast condo homes for sale in Alabama were 34.9 percent higher than the prior month. This movement mirrors historical data indicating that condo sales, on average (’07-’11), traditionally increase from the month of February by 35 percent.

The general consensus among market experts along the coast is this trend should continue as the market enters the peak spring/summer buying season. There remains a significant amount of pent up demand as buyers since 2007 have taken a cautious approach, especially immediately following the oil spill. With each passing month, positive market momentum is being revealed in the condo statistics that reflect a much more confident market. Of course, low interest rates and very attractive pricing certainly provide an incentive to poke your toes in the water.

Pricing: The Baldwin County condo homes for sale in Alabama median selling price in March was $239,600, an increase of 31.3 percent from last March which represented the market's bottom in terms of pricing during the month of March. This figure represents also represents an increase of 4.2 percent when compared to the prior month. Historical data ('07-'11) indicates that the March median condo selling price traditionally increase from the month of February by 10.5 percent. The median condo price is 16.5 percent below its March peak established in March 2007. See graph in actual report for more details.

As the condo market enters the second quarter of 2012, statistical volatility is anticipated. With that said, the recent positive trends should continue as the market transitions into its peak spring/summer buying season.

View the current monthly Baldwin County (Gulf Coast) Condo Report here.

The Baldwin County Condo Monthly Report is work product developed in conjunction with the Baldwin County Association of REALTORS to better serve both local and worldwide consumers interested in the sandy white beaches along Alabama's treasured gulf coast homes for sale in Alabama. The ACRE monthly report is provided to illustrate the "general" market direction & trends when comparing prior periods with the most current condo data available. Real estate is local and statistics will fluctate between areas along the gulf coast including specific condo properties. ACRE recommends that you consult a local real estate professional for "specific" advice associated with the condo market in Baldwin County.

About ACRE. ACRE was founded in 1996 by the Alabama Real Estate Commission, the Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of our statewide ACRE Partners.

For other Alabama real estate resources & news, please visit our website and our ACRE blog. You can also follow ACRE from our facebook page, just "like" http://www.facebook.com/acreua and/or

Related topics: ACRE, Alabama Center for Real Estate, Baldwin County Association of REALTORS, Baldwin County Condo Market, BCAR, Grayson Glaze, Gulf Coast Real Estate

As of March 2012, there are still mixed signals for the US real estate market. According to figures provided by the National Association of REALTORS in Chicago, existing home sales remain relatively flat with a -0.9% decline between February and March. However, year-to-year sales are significantly up. There was an 8.8% gain between 2011 and 2012. These numbers are seasonally adjusted. When non-seasonally adjusted numbers are used, there was a strong month-to-month gain of 10%.

Regionally, it appears that the strongest recovery is occurring in the Northeast and Midwest. The South is showing steady improvements. The West is recovering slightly slower than the rest of the country.

The other major factor is existing home prices. In general, they remain relatively flat as well. The year-to-year increase was only 0.3%. Prices should be expected to show some seasonal movement upward between now and August.

On the economic front, the official US unemployment rate dropped to 8.2% for March. Although last week’s job report show that employers only added 120,000 jobs in March, which was disappointingly below the prediction, the US economy is steadily adding jobs. US Consumer Confidence, which drives about 70% of the economy, is back on the rise. There is little talk now that the European debt crisis or a slow down in China will drag us back into a recession. In fact, the widely held belief is that the US economy – not China – will once again be engine that will drive the world economy for the near future.

The continued overhang of foreclosures and unusually tight lending standards remain a drag on the recovery of the real estate industry. Of course, continued good news on the employment front, which will be bolstered by consumer confidence, should help local buyers return to the market.

The revival of the relocation sector of the real estate market should be occurring soon. When employers re-employ their former workers and tap the remaining local unemployed workforce, focus should return to hiring out-of-town labor. And, there will be an increased interest in new plant openings and further retail development. Those who are delaying relocation due to their inability to sell their current homes, will soon have more options as local buyers increase their activity. As more loans are made, lenders will have more options as their risk will be spread over more loans and thus be somewhat reduced.

 

Subject: Alabama Beaches number 1 in the state for destinations!!

This article refers to a rating during the year of the oil spill. Despite the spill, you can't keep a good beach down!

Alabama Beaches Number 1 in the state; Mobile Mardi Gras years top event!!

Published: Thursday, March 01, 2012, 4:34 PM Updated: Friday, March 02, 2012, 7:48 AM

By Casandra Andrews, Press-RegisterPress-Register

Beachgoers enjoy Mother's Day on the public beach Sunday, May 9, 2010 on Dauphin Island, Ala. Tar balls reportedly washed up washing on up the shore Saturday, triggering cleanup efforts on the island. (Press-Register, G.M. Andrews)

MOBILE, Alabama -- With 5 million visitors, the beaches of the  Alabama Gulf Coast rated number one natural destination in the state last year, according to figures released today by the Alabama Tourism Department.

Among its findings:
More than 1,000,000 people attended Mobile’s Mardi Gras, according to the tourism group, making it the most attended event in the state in 2011.
Bryant-Denny Stadium was the number one sports destination with 712,747 fans attending University of Alabama home football games.
With 350,000 visitors, The Birmingham Botanical Gardens was the most attended free attraction.
The Alabama Tourism Department also released the top 10 attendance figures for state attractions that charge an admission fee. They were:
1. More than 533,000 people visited the U.S. Space & Rocket Center in Huntsville last year, ranking it number one among state attractions that charge admission.
2. The Robert Trent Jones Golf Trail saw attendance of 512,044.
3. The Birmingham Zoo with attendance of 498,623.
4. McWane Science Center, also in Birmingham, saw 381,191 visitors.
5.  The USS Battleship Park recorded 322,685 visitors.
6. Barber Vintage Motorsports Museum in Leeds had 300,000 visitors.
7. Huntsville Botanical Garden ranked seventh with 275,000.
8. Point Mallard Park in Decatur was eighth with 231,017.
9. The Montgomery Zoo recorded 216,746 visitors.
10. EarlyWorks Museum Complex in Huntsville saw 155,000 visitors.

Seven of the state’s Top Ten attractions charging admission showed an increase in attendance over previous years, tourism officials said. For more information, visit www.alabama.travel.

There will be an increase in FHA MIP up to 1.25% and in upfront MIP to 1.75%. More info to follow – but heads up for now.

 You can search this site to research both  Mobile and Baldwin county listings.  If you need solds you will have to call me and I can send them to you.  Solds will not show up on these links, Need local Alabama real estate  information? I've summarized much of what is important about the Mobile, Point Clear, Gulf Shores, Orange Beach, Ono Island, Fort Morgan, Fairhope, Montrose, Dauphin Island, Spanish Fort and all of the Mobile County and Baldwin County real estate market in this site.