Buyers are making waves in Perdido Key! So far this year, the island has seen 45 sales with another 29 properties "Under Contract". This looks to be our busiest Spring in years with record low inventory of only 166 properties for sale and ever increasing demand as we move into the Spring and Summer seasons. ResortQuest is celebrating our 11th consecutive year as Perdido Key's Number 1 Sales Team. Our goal is to inform and serve the current and future property owners of Perdido Key. Therefore, I am sending you comprehensive sales data for all 2012 Perdido Key sales along with detailed information for the types of properties that may interest you most. If I may be of assistance, please feel free to Contact me and I promise you will experience the difference our customers have grown to expect. Many blessings to you! Kathy 

Click below for information on specific portions of the Perdido Key market

HOT TRENDING PROPERTIES OF 2012

MARKET SNAPSHOTS BY LOCATION ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ NEW LISTING Shipwatch A 2Bed/2Ba | 2,088 sqft ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Molokai Villas B7 3Bed/2Ba | 1,209 sqft $299,900 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ La Riva East 6E 4Bed/4.5Ba | 2,942 sqft UNDER CONTRACT ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ SEARCH FOR YOUR PERFECT SANDCASTLE

UNDER $250,000

$250,000-$500,000

$500,000-$750,000

$750,000-$1 mil

OVER $1 mil

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By:  Carmela Bell

At the close of 2011, we joyfully celebrate a rebuilding year behind us and an optimistic year ahead! We are coming off a record breaking summer regarding our local tourism industry. The 2011 lodging revenues from Panama City Beach to Fort Morgan thru August were the best ever, netting more than $1.1 billion.  Gulf Shores and Orange Beach Tourism CEO Herb Malone states "we've surpassed almost everything from 2007, which was our previous record year."  Visit Pensacola Communications Director Laure Lee said their tourism indicators show a 30% growth from 2010 and an 18% jump from 2007, their previous best year.  This is great news for area condo owners, many of whom suffered lower rental incomes in 2008 and 2009 and then dealt with the efforts of the BP spill in 2010.  The availability of BP funds to fuel the massive marketing efforts unquestionably were an important factor in bringing tourists to our area beaches.  The numerous efforts to stimulate the local economy have gained traction.  Even without the aid of more funding from BP in the future, county officials are optimistic that the momentum gained in 2011 will carry forward.

By: Carmela Bell

It is clear that the local real estate market is making progress towards recovery. Overall in 2011, we saw prices continue to decrease or stay the same in most buildings. But below are a few exceptions which exemplify highlighted properties which increased in price.  
     1.  Indigo - First half of the year the average price for a 3 br/2 ba, 1,997 sq ft unit was $478,883 or $240 per sq ft. on three sales.  The second half of the year there were also three sales of that same floor plan with an average sale price of $513,333 and average price per sq. ft of $258.  A notable increase of 7%.
     2.  The Palms at Perdido - Two units sold in 2010 averaging $278 per sq ft and two units sold in 2011 averaging $378 per sq ft.  A whopping 36% increase.  This is the trend we like to see. Units in the Palms in the same stack with the same floor plan reflect increased prices:
         Unit 501 closed 9/2009 for $1,150,000
         Unit 601 closed 4/2010 for $1,235,000
         Unit 801 closed 8/2011 for $1,300,000
Currently, the lowest priced unit in that same stack in the Palms is unit 601 priced at $1,500,000.  The lowest priced Palms unit with the same floor plan is unit 902 at a great value of $1,175,000 although it is in a stack which doesn't offer the preferred view offerent in the "01" stack.
     3.  La Riva II - Last August there were three sales of 4 br/4 ba/4,314 sq ft units, PH #12 for $1,000,000, PH #10 for $1,200,000, and PH #14 for $1,250,000 which averages $1,150,000.  In December another, penthouse #13 which was the same floor plan sold for $1,250,000.

La Riva II and The Palms of Perdido are two good examples reflecting the strength of the luxury condominium market on Perdido Key.  Our condominium market is driven by people seeking a vacation spot for themselves and their families and friends.  Buyers in the market are responding to the low prices now offered.  We are finding a trend of people with cash finding good deals for high quality coastal condominiums.  With the exception of a few very high-end buyers who know exactly what they want and buy it, purchasers are clearly more value driven today than they've been over a decade.  Many sellers understand this and have responded accordingly and many buyers are recognizing these irresistable opportunities, creating a new playing field with much increased activity.  The rules of the game have changed and the sellers who are embracing them are successfully getting to the closing table.

GREETINGS from Paradise!!!

To find your beach paradise or if you would like more information, please feel free to contact me anytime!  

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