Despite a very cold winter, I am happy to report that 2013 was a great year for our beautiful island! The local business community is enjoying yet another year of record sales as more and more people discover our beautiful Gulf Coast.
2013 Highlights
- Meyer Real Estate and other management companies reporting 10% + growth in rental income for the 3rd year in a row
- RE/MAX Sales increased 40% in 2013
- Average buyer spending $350,000 vs. $250,000 in 2012
- Average property appreciation was 3% vs. 2.6% in 2012 – Some developments are seeing much higher appreciation
- New Construction is popping up all over the Island in the form of Single Family Beach Homes, Condo Developments, Restaurants, and Shops
- Record Sales to Permanent Residents 30% Increase!
- JUNONIA - New Luxury Condo Development in Orange Beach announces pre-construction pricing starting at $575,000 - 50% SOLD OUT!!!
Great New Restaurants and Shops
Many NEW upscale restaurants and shops have opened in the community – I highly recommend you check these out next time you visit; just to name a few:
- Toby Keith’s Bar and Grill - The Wharf
- Louisiana Pantry – The Wharf
- Cayman Grill – Canal Road in Orange Beach
- Southern Grind Coffee House – Super Place! - The Wharf
If you are thinking of selling or buying, please give us a call. We value your friendship and look forward to another opportunity to provide you with excellent service and honest, accurate information. If you have friends or family considering a real estate investment – tell them this is the year!
Our beautiful beaches continue to attract new visitors each year. Prices continue to go up, and interest rates are predicted to reach 5%+ this year. Typically a slight hike in the interest rates will help increase sales as “fence sitters” will finally see the economy is improving and change is coming! Come on, 5% is still a really good rate!
Please contact us more information about real estate in Orange Beach, Gulf Shores and the surrounding Gulf Coast area.
Posted by Lorraine Gatti onEnjoy this blog post? Click here to subscribe for updates
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