Foley area real estate market ends strong, hopeful for 2016

Allison Woodham / allison@gulfcoastmedia.com
Posted 1/5/16

FOLEY — As the year comes to an end, the 11-month Foley Market Report shows continued growth.

Numbers show a strong end to 2015 and predict a strong January 2016 as well. These numbers have shown a constant growth throughout 2015.

The Foley …

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Foley area real estate market ends strong, hopeful for 2016

Posted

FOLEY — As the year comes to an end, the 11-month Foley Market Report shows continued growth.

Numbers show a strong end to 2015 and predict a strong January 2016 as well. These numbers have shown a constant growth throughout 2015.

The Foley market includes homes in Foley, Summerdale, Silverhill, Robertsdale, Elberta, Bon Secour, Magnolia Springs and Lillian.

Through 11 months, the numbers are as follows:

— 987 homes were sold by the end of November this year, up from 876 sold during the same period last year — an increase of 12 percent year-to-year.

— The average sale price of homes in the market rose from $149,018 in 2014 to $165,026 in 2015 — an increase of 11 percent.

— The median sale price also rose year-over-year from $136,500 last year to $147,000 this year — a seven percent increase.

— While homes sold for an average price of $81 per square foot during the first eleven months of 2014, that number rose to $88 per square foot during the same period this year.

— There were 132 homes under contract or pending in the region on December this year, compared with 109 at this time last year — showing that demand for homes in the area on the rise for this year, December 2015 and January 2016.

This information is collected by the Baldwin County Association of Realtors, and brought to you by the brokers and agents at RE/MAX Gulf Shores.