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July 2016 Real Estate Update Plus Some Great Upcoming Events
July 2016 Real Estate Update
(Plus some great upcoming events!)
Summer is winding down along Alabama’s Gulf Coast. Many visitors have headed home after Labor Day as another school year gets underway. It’s been a great summer here in Gulf Shores and Orange Beach. According to the Alabama Tourism Department, the number of visitors (including international travelers) to the state is on track for a fifth record year. Our beautiful beaches are one of the main attractions!
Sightly more than 6 million visitors put their toes in our soft sparkling sand in 2015, up from 5.7 million in 2014, and spent an estimated $3.9 billion (versus $3.5 billion in 2014). Although overall tourism figures are not yet out for 2016, hotel occupancy rates during the summer months are trending upwards over last year. This growth continues to drive our local real estate market.
According to the Alabama Center for Real Estate at the University of Alabama, condo sales in Baldwin County this July were up 2.8 percent versus July 2015. Conversely, condo inventory dropped by 8 percent. The average sales price of a condo rose to $327,809 from $291,926, an increase of 12.3 percent. Overall, 823 condos sold through the second quarter of 2016, outpacing forecasted sales by nearly 4 percent. Condo sales in Baldwin County parallel the overall demand for real estate in Alabama, which saw home sales through July grow by 6 percent versus last year.
While we anticipate a slowdown in activity as the fall season approaches, Gulf Shores and Orange Beach have lots of great events on tap to attract visitors (and potential home buyers!).
Here is just a sampling of what’s in store:
September 10: Brett Robinson Alabama Coastal Triathlon, Gulf Shores
The Hangout in Gulf Shores will host for the 8th year in-a-row this swim, bike and race event. You can choose to do the Intermediate Triathlon (1.5K Swim/40K Bike/10K Run) or its smaller version, the Coastal Tri-It-On (300yd Swim/10mi Bike/2 mi Run). Or, just come on down to the end of 59 to cheer on the athletes! To learn more, visit team-magic.com.
September 15-17: Wharf Uncorked Food & Wine Festival, Orange Beach
In support of Make-A-Wish Alabama, this premier event gives you the opportunity to sample dishes from well-known chefs as well as 150+ fine wines! Chefs include some of our very own, including Chef Brody Olive from the Perdido Beach Beach Resort and Chef Chris Sherrill from the Flora Bama Yacht Club as well as two-time Chopped champion, James Brisione. Visit thewharfuncorked.com.
September 17: The 28th Annual Alabama Coast Cleanup
Help clean our coastlines by becoming a cleanup volunteer! Cleanup runs from 8:00 a.m. to noon. Visit alabamacoastalcleanup.com.
September 22-25: 2016 Alabama Tri Level Tennis State Championship, Gulf Shores
Tri Level Champion teams from the twelve local leagues will be invited to compete in the championship. More than 650 players are expected. In addition, two more tournaments (including the Mayors Cup) will take place in October and November. If you are interested in advertising your business during all three tournaments, give me a call at 251-942-3141. (Besides real estate, tennis is my other passion!)
October 8: 5th Annual Alabama Festival of Flavor 2016, Foley
Sponsored by Riviera Utilities, this popular event will showcase local and regional foods from food trucks and renowned chefs in the heart of historic downtown Foley. Buy your sampling tickets online today to get a discount! Visit alabamafestivalofflavor.com.
October 13-16: 45th Annual National Shrimp Festival, Gulf Shores
The big daddy of them all! This four-day event offers up a wide array of terrific shrimp delights plus live music and activities for the kids! Come find out why this is one of the top-rated events in the South! Visit myshrimpfest.com.
Christine Slaughter is an associate real estate broker with Realty Executives of Gulf Shores, Alabama. Originally from Australia (she moved to Alabama’s stunning coast nearly 30 years ago), her love of the sand, sun and seafood are deeply-rooted in her soul.
If you are looking to buy or sell along the Alabama coast (or Florida), you can reach Christine directly at (251) 942-3141 or email her at Christine@ChristineSlaughter.com.
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