Orange Beach Sales Analysis:
The above graph represents the average sales history of direct gulf view 2 bedroom condos from 2010 to current.
I find it really interesting the price consistency since 2010 with the exception of 2014 to 2015 revealing a ~$26,500 jump in average price! My personal opinion of price next year is a jump much like in 2014-2015 because of the low inventory environment we're currently in. I expect fewer sales but at much higher prices.
These are the current statistics of active listings in Orange Beach AL:
The average price per square foot is $363.00 for the current active listings. Since most of our market is 1,000 sf condominiums, prices should be moving towards $400,000+ next year. Already, you notice above the average price of current listings for sale.
In conclusion, this market has plenty of room to move upwards based upon past sales history in 2004-2006. I am currently seeing a lot of current owners sell and buy bigger or nicer at least.
This is the time! Don't make the mistake of regretting!