Fall 2023 Real Estate Report for Gulf Shores

By Mark Davis

As a resident of Fairhope for over 10 years, I love living on the Gulf Coast of Alabama. Baldwin and Mobile County have so much to offer to its residents. Living in Baldwin & Mobile Counties and being active in the local communities, I have extensive knowledge and insight into the local market conditions and trends. I am a strong communicator, skillful negotiator, and a detailed oriented agent. Bottom line, I love being a Realtor and I will always get the job done for you and keep your best interest in mind.

Welcome to our latest Gulf Shores real estate market update for September 2023. Grab your cup of coffee, and let’s dive into some exciting news and insights about our local market.

As of September 2023, Gulf Shores, Alabama, boasts 6.55 months of supply inventory. But what does this mean for you, whether you’re a buyer or seller? This metric represents the number of months it would take to sell all the condos on the market if no new listings were added. With the recent rise in interest rates, we’ve seen a slowdown in sales, leading to an increase in inventory. In the last 12 months alone, our supply of inventory has surged by a significant 129.82%.

Don’t let the inventory increase alarm you. It’s not necessarily a negative development. Instead, it signifies a broader range of options for potential buyers. This shift can be attributed to fluctuations in interest rates. If you’re considering selling your property, it might be an excellent time to explore creative financing options to attract buyers.

In Gulf Shores, we currently enjoy a solid 97.5% list-to-sell price percentage. What does this mean for sellers? It indicates that homeowners are receiving offers very close to their asking prices when their homes are sold. Moreover, homes are selling swiftly, with an average time on market of just 46 days. While this timeframe can vary based on factors like property condition and pricing, it reflects a relatively quick turnaround. If you’re looking to sell, let’s discuss effective staging and marketing strategies to make your property stand out.

For condominiums in Gulf Shores, the median sold price stands at $390,000. This figure serves as the middle point in our condo market, offering valuable insights into buyer preferences and price trends.

This market update provides a snapshot of Gulf Shores’ current real estate landscape. Remember that these numbers are just the beginning. For personalized analysis tailored to your specific property, don’t hesitate to reach out for a one-on-one consultation. I’m here to help you navigate the dynamic real estate market, and I take pride in my responsiveness. If you have any questions or are ready to make your next move, give me a call or send a text—I’ll be sure to get back to you promptly. Your real estate journey awaits!