Posts from July 2022
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25
Gulf Coast real estate market begins shifting back to pre-pandemic levels
The multiple offer situation became a representation of the pandemic real estate market in America these past few years. And while Alabama's Gulf Coast is normally buffered a bit from those national attention-grabbing headlines, the market here was also undoubtedly tighter than normal.
But good news is on the horizon. The tides of the real estate market both nationally and along Alabama's Gulf Coast are beginning to turn, according to recent market stats. The frenzied pace of the real estate market in the past few years has begun to return to pre-pandemic levels. It's an expected shift in the market that's been long-awaited by home buyers, who are looking for reduced competition and an increase in options, but the news isn't bad for sellers either.
18
June 2022 Alabama Gulf Coast real estate stats
Alabama's Gulf Coast contains several real estate markets depending on location and price point – just to name a few factors. The graphic below shows real estate statistics for June 2022, the latest month available.
Vital Signs provides a visual representation of what's happening in several local markets by showing you supply. The colored-coded numbers represent the absorption rate, 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 ma...
11
Baldwin County June 2022 developments report
New construction is booming in order to meet the demands of the more than 230,000 residents that now call Baldwin County home. Each month Baldwin REALTORS® creates a report from local government meetings to highlight what new developments are in the works in Baldwin County. Below is a brief list of the plans addressed in June 2022.
Fairhope
- The Fairhope City Council approved zoning amendments to B-3a and B-3b districts to restrict a hotel/motel or bed and breakfast use by only allowing on appeal to the Board of Adjustments and under special conditions. Currently a hotel/motel use is allowed by right in B-3a and B-3b zoning and a bed and breakfast is allowed by right in B-3b.
