Alabama:
Birmingham
The Birmingham market is cooling, showing signs of balance as properties are staying on the market longer, averaging 39 days, compared to 21 days in the previous year. The average sales price here has increased modestly, reaching around $340,000, a 1% uptick over last year. Inventory has grown with a 22% increase in listings, reflecting more opportunities for buyers and easing competition in some neighborhoods.
Mobile
Mobile’s real estate market is diverse, with some homes selling quickly while others take longer. The average days on market varies widely based on property type, with homes averaging between 13 to 68 days on the market. Prices have remained relatively stable with a median list price of $240,000, with some homes selling over list price due to competitive bidding. The market reflects balanced buyer interest, and pricing depends on factors like property size and location.
Baldwin County
Baldwin County, which includes popular areas like Gulf Shores, has seen a dynamic market with increasing interest. Homes here average around 69 days on the market, slightly quicker than in Birmingham, reflecting ongoing demand for vacation and retirement properties. The average sale price has risen to approximately $460,000, driven by higher-priced properties along the coast and in tourist destinations.
Announcements
We have a few great events coming up in the Gulf Coast real estate market.
- Invest Success Bootcamp Oct 17th-19th: Invest Success is coming to Mobile to teach a hands-on BootCamp on flipping houses, and they are offering a HUGE discount to my audience using the code PartnerNoHotel at CHECKOUT. With this code, you can do the whole BootCamp for $915 (usually $4K)!
- Self-Storage Discussion Panel: Join us for the next meeting of the Gulf Coast Real Estate Investor Group, featuring self-storage expert Bill Barnhill and the Omega Properties team. Register HERE for this FREE event.