Coming as no surprise, and perhaps appropriately for summer, Baldwin County residential homes are still selling at a sizzling clip, according to the most recent data released by the Baldwin County Association of Realtors (BCAR). “The Baldwin County housing market — and national housing market for that matter — continues to speed up, and we better be ready for the ride,” the BCAR study said.
Residential active inventory totaled 3,184 in June, with 793 properties sold last month, a decrease of 5.6 percent from 806 properties sold in June 2017. Properties are spending fewer days on the market than in 2017, decreasing 41 percent from 138 days last year to 82 days this June.
Total sales increased 4 percent this June, to $232,095,540 from $223,388,146 last June. The average sales prices of residential properties in Baldwin County in June 2018 increased about 6 percent from 2017. Last year the average sales price was $277,156, compared to $292,680 this year.
Here are residential MLS stats by area:
• Residential properties sold in June 2018: 177
• Average sales price: $198,876
• Average days on market: 70
• Average sales price change from June 2017: up 6.2 percent
• Residential properties sold in June 2018: 106
• Average sales price: $374,696
• Average days on market: 80
• Average sales price change from June 2017: up 6.4 percent
• Residential properties sold in June 2018: 94
• Average sales price: $395,881
• Average days on market: 85
• Average sales price change from June 2017: up 8.9 percent
• Residential properties sold in June 2018: 289
• Average sales price: $312,544
• Average days on market: 87
• Average sales price change from June 2017: up 8.8 percent
• Residential properties sold in June 2018: 16
• Average sales price: $153,643
• Average days on market: 77
• Average sales price change from June 2017: up 0.7 percent
BCAR is a professional trade association supporting more than 2,000 Realtors in the Baldwin County region. The organization supports members through professional education, peer networking and MLS services. More information about the organization can be found on its website or Facebook page.
Commercial real estate moves
• Hank’s Fine Furniture recently purchased the TechLine warehouse and office property at 30852 State Highway 181 in Spanish Fort for $1,450,000. The 2.1-acre commercial parcel consists of two buildings with more than 26,000 square feet of space. The seller will continue to operate from the property while they build a new facility in the I-10 Commerce Center Industrial Park in Spanish Fort.
Plans are in place for the buyer to start renovating the property during the first quarter of 2019. This will be the furniture retailer’s fifth store along the central Gulf Coast, with existing stores in Mobile, Pensacola, Destin and Panama City. Steven McMahon with Inge & Associates represented TechLine and Sharon Wright with White-Spunner Realty worked for the Hank’s Fine Furniture retail chain.
• According to Ballard Sweat with RE/MAX Paradise in Orange Beach, speculators paid over $1 million for the Whispering Pines subdivision located off of U.S. Route 8 in Baldwin County near Gulf Shores. Plans are in place to divide the former neighborhood into 150 lots for recreational vehicles this fall, to be sold for $59,000 per plot. Stacy Ryals with Hosteeva of Realty worked for the buyer. Ballard Sweat represented the seller.
• PrimeLending recently held a grand opening for its new 2,000-square-foot retail space. The branch, located at 214 St. Francis St. in downtown Mobile, has been staffed with approximately 20 local employees, according to branch manager Stephanie Kyle.
The Dallas-based residential mortgage originator is also planning to open at least five more branches in Mobile and Baldwin counties by the end of the year, reportedly adding upwards of 100 new jobs for the area, per a news release.
A PlainsCapital company, PrimeLending has more than 270 locations in 37 states, collectively employing some 2,300 workers.
• According to Jeremy Friedman of Katapult Properties, Kudzu Ventures recently acquired a 2,000-square-foot lot inside the Fairhope Professional Park. The site is situated on Professional Park Drive off of Nichols Avenue and near U.S. Route 98 (N. Greeno Road) in Fairhope. Kiel Rubio with Coldwell Banker Reehl Properties represented the sellers. Friedman worked for the buyers.
Stalcup appointed to Ascension AL board of directors
Wilkins Miller, LLC, a local accounting firm with offices in Mobile and Fairhope, recently announced L. Page Stalcup III, a partner with the firm, was selected by the Ascension Healthcare board of trustees to the Ascension Alabama board of directors. Board members carry out Ascension’s mission to manage service priorities across its continuum of health care units.
Stalcup joined the firm when the office was originally the Mobile office of Pannell Kerr Forster and became a founding shareholder of Wilkins Miller, P.C., in 1991. He has experience in areas of taxation including corporate, partnership, individual and fiduciary tax and estate planning. He also offers specialized experience in economic, financial, operational, organization and management consulting accounting and auditing for real estate, colleges and universities, construction and manufacturing.
Stalcup is a frequent teacher and lecturer in the accounting industry on topics related to the real estate industry. He also has served in an advisory capacity for another municipality, as well as numerous charitable and civic organizations, according to a news release.