Real Estate Market in the City of Gulf Shores
More than 63 percent of all property throughout Gulf Shores, Alabama stands vacant today. These numbers show that if you are in the market to buy now is the time to do so. With homes being on the market for an average of 120 days or more, sellers are reducing their asking prices and giving buyers the opportunity to get in investments that are anticipated to go up over the next couple of years.
The average selling price for homes in the Gulf Shores community that offer single family living and are designed with 3 or more bedrooms is at $150,000 in the current market. Real estate agents have reported that the best price range for sellers when they want fast sales on their home is to list it for $100,000 to $149,000. Homeowners that do keep their homes within this price range have seen their home sell within 60 to 90 days of the original listing date. Homes that are not moving so quickly are around the $1,000,000 price range.
According to real estate market reports activities are increasing for both buyers and sellers alike in the Gulf Shores community. There still are reportedly more sellers throughout the area than there are buyers to purchase these properties. With modifications being available for mortgage seekers it is hoped that this will change the trend and home buying throughout the area will increase within the next couple of years.
Reportedly home buying has increased over the past twelve month period because home buyers are seeing smaller interest rates which are pushing them to make their home purchase now before the rates begin to increase. Gulf Shores home buyers have also taken notice of the rising home values that have taken place over the last year. This is a trend that is expected to continue allowing for home buyers to get more from their investment in the coming years. These facts are always a driving point for increasing the buying trends in any real estate market.
Those seeking to make home purchases in the Gulf Shores community tend to be families that have children under the age of 18. These families are choosing the Gulf Shores community as their next neighborhood because of the school system, local conveniences, quiet neighborhoods, and low crime rates that are being reported. One drawback that does affect the decision to move to the Gulf Shores area for families is the commute that must be made to work, with the nearest metro area being Mobile, AL.
The second largest group that is choosing to purchase homes in the Gulf Shores region are retirees. This group has remained focused on the relaxed atmosphere that is available in the community as well as the ease of traveling to shopping centers, medical care facilities, financial institutions, post offices, libraries, and other necessary establishments that are important to their quality of living. Gulf Shores does offer extensive events and activities such as golfing that this group of home buyers is looking for.
Purchasing rental property that is available in Gulf Shores, AL can prove to be a wise investment for some individuals. The option to choose rental housing is on the rise throughout much of Gulf Shores as it is in many other areas of the United States. People that make low cost home or property purchases will find that they can quickly pay these properties off with the profits made on the rental charges they collect from their tenants. To safeguard your investments in rental properties it is always a good course of action to work with real estate agents that have property management experience and capabilities to offer you. These professionals can help with legal aspects, contract writing, necessary repair services, appointment scheduling, and more for the actual property owners that cannot attend to these service needs in a timely manner due to their outside employment, family responsibilities, or distance to their own home.
Understanding the recent market trends that are taking place within the real estate market throughout Gulf Shores allow individuals to make the wisest investments possible for their home buying experience. Knowing what the area has to offer, employment opportunities, crime rates, and other such factors helps to ensure that any home that is purchased can be enjoyed to its fullest. For further information or up-to-date real estate market trends throughout the community of Gulf Shores, reputable real estate agents can provide the information, solutions, or resources that are needed.