GULF SHORES. Ala. (WKRG) — Seeing more ‘For Sale’ signs in front of houses around Baldwin County? A telling sign that real estate sales are slowing down.
Kevin Corcoran is the broker of Remax of Gulf Shores. He said that this is the slowest it has been in a while.
“We study the market every month, and what we’ve seen is somewhat of a plateau of sales, as far as the total number of sales taking place, and inventory has been growing every month, since about March, we have almost 4 times as many condominiums for example on the market as we had just six months ago,” Corcoran said.
Although inventory is up, some moving into the area say they have had a tough time finding a suitable property.
Kristine Mendyk, who moved to Baldwin County from New Jersey in April says she saw only two houses of interest to her in Gulf Shores. She says she got lucky.
“We came across this development and this house was under escrow but it fell out and they gave me a call and said you have a couple of hours to make an offer before it hits the market again,” Mendyk said.
Numbers are down compared to last year on units being sold, and even the northern Baldwin County communities are seeing more for sales signs than sold signs.
“The further we get north in county, the less cyclical it is,” said Corcoran. “A lot of people depend on school years, and things of that nature. But Gulf Shores is the fastest growing city in Alabama, 54% in just the last 10 years, so it’s a very active market. I don’t want you to think it’s not, but it is just taking slightly longer but still, incredible numbers.”
Corcoran said as the fall approaches, the real estate market should see sales picking up again.