Gulf Coast Market Report 8/23/23

Serving Families Along The Gulf Coast Since 2002

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Excessive Heat Warning Along The Gulf Coast

The National Weather Service in Mobile, Alabama, has issued an urgent weather message for, among others, Mobile and Baldwin Counties. Cities in Baldwin County include: Bay Minette, Daphne, Fairhope, Foley, Spanish Fort, Fort Morgan, Gulf Shores, and Orange Beach.

High Temperatures to hit 110 and higher today and tomorrow.

Enjoy the air-condition today and stay hydrated.

If you missed last week's condo sales report for July, here's the recap:

As you can see below, July sales leveled out:

Average and Median condo prices both were also even from last year, but inventory is 27% higher as we head into the fall market.

I can tell you from our business that the number of buyers looking at properties have slowed down here recently much more than the normal fall slowdown.

Mortgage rates hitting 7%+ hasn't helped, however we still have plenty of business happening as we are closing deals every week.

Feel free to check out all the condo data below, and reach out with any questions.