Real Estate Updates

According to AL.com, a local investor paid $950,000 for a 7,500-ft2 commercial building on 1.38 acres in the Gulf Shores Business & Aviation Park off Commerce Drive in Gulf Shores, according to David Swiger and Angie Swiger of Swiger & Co. Realtors. Also in Gulf Shores, Stephanie T Hair Salon has leased space in The Square, a mixed-used development at 1538 Gulf Shores Parkway, according to Swiger & Co. Stephanie Topolnicki is owner and operator of the salon. In Orange Beach, local investors are seeking approval to rezone 2.8 acres from general business to planned unit development to build a 120-room hotel on Lot 4 in Summer Salt Plaza at 24241 Perdido Beach Boulevard, according to the Orange Beach Planning Commission. In Citronelle, an investor paid $152,000 for a warehouse on 3 acres at 18955 Third Street and plans to store inflatable jump houses and slides in the building, according to James Henderson of Realty Executives Bay Group, who represented the seller. Paul Henderson of Realty Executives worked for the buyer. In Foley, Mugshots Grill & Bar plans to build a new restaurant on 2 acres on Highway 59 near The Honey Baked Ham Co. across from Tanger Outlets, according to Buff Teague of JLL. Streamline Development plans to develop the adjacent 3.1 acres. Finally, in Mobile, developers are seeking subdivision approval to develop Villas at Springhill, with 23 single family residences at 162 and 186 East Drive, according to the Mobile Planning Commission.

The Baldwin County housing market finished 2021 with strong December statistics reported by the Baldwin REALTORS Multiple Listing Service. New inventory increased 8.5% across the county year-on-year. Both the “Residential” and “Resort” areas saw increases in closed sales. Altogether, the county saw a total amount of $376,660,888 in closed sales, a 49.3% year-on-year increase. “Resort” saw a $160,663 increase in sales price from the previous year. With a 32.4% increase from December 2020, the average sales price was $663,225. Listings spent less time on the market, at an average of 41 days compared to 82 days in December 2020. Additionally, total properties sold for this area increased to 263 compared to December 2020’s 202. “Traditional Residential” also saw encouraging trends in all reported categories. Average sales price was a 20.6% increase year-over-year, total properties sold were 574 (71 more than in December 2020), and properties in “Traditional Residential” spent less time on the market (33 days versus the prior year’s 62 days).