2024 Orange Beach Waterfront Property Report: A Comparative Analysis of Home Sales with Boating Amenities
Based on the latest data available from the Baldwin County Multiple Listing Service (MLS) as of August 4, 2024, we present an in-depth look at the trends affecting waterfront properties equipped with docks and boat slips in Orange Beach, Alabama, comparing two key periods: January 1 to August 4, 2023, and January 1 to August 4, 2024. This analysis aims to uncover market dynamics, assisting both buyers and sellers in making informed decisions.
Market Overview
The interest in waterfront properties with boat slips and docks has shown some fluctuation over the reviewed periods. In the first eight months of 2024, 116 such properties were sold, compared to 126 during the same period in 2023, indicating a 7.94% decrease in transaction volume.
Sales Prices and Market Value
Despite a decrease in the number of transactions, the price metrics from year to year show positive growth. The average sales price increased from $993,783 in the period from January 1 to August 4, 2023, to $1,048,323 for the same period in 2024. The maximum sale price also saw significant growth, from $5,000,000 in 2023 to $6,650,000 in 2024, marking a substantial 33% increase.
Property Turnaround and Cash SaleS
The average days on market (DOM) for these properties was fairly consistent, with a small decrease from 79 days in 2023 to 78 days in 2024. Interestingly, the proportion of cash transactions remained stable, with 63 out of 126 properties in 2023 and 63 out of 116 in 2024 being purchased with cash. This indicates a robust interest from financially capable buyers looking for premium real estate.
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Implications for Market Participants
For Buyers: The upward trend in average and peak sales prices suggests that the market for these properties is resilient, potentially offering a good return on investment. Prospective buyers should be well-prepared for a competitive market, especially for properties with high-end amenities and desirable locations.
For Sellers: The consistent number of cash purchases and the increase in property values highlight a favorable market, particularly those offering well-maintained and strategically located waterfront properties. Enhancing dock facilities and ensuring easy access to water can further increase property attractiveness.
The comparison of data from January 1 to August 4 across 2023 and 2024 indicates the Orange Beach waterfront property market with docks and boat slips remains vigorous. Even with a slight reduction in transaction volume, increased average and peak prices demonstrate enduring demand and the segment’s resilience.
Please note, while this analysis is based on data deemed reliable from the Baldwin County MLS as of August 4, 2024, accuracy cannot be guaranteed, and we recommend all interested parties perform thorough due diligence.
To learn more about these unique property opportunities or to receive tailored advice and services, feel free to contact the Amon-Russo Team. We are dedicated to helping you navigate this specialized market with confidence and ease.
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