Baldwin County continues to be the king of growth for Alabama. While the State is only seeing an overall rate of growth of 1.7%, Baldwin County is growing at a rate of 14.4%. While all of this is great for the economy, it also brings its own set of challenges or growing pains which has spurred some local governments to make moves to try to slow some of this down. Fairhope even went as far as passing a new development moratorium.
The Baldwin data represents an addition of 26,298 people since 2010 the year of the Oil Spill, a rate of 12 newcomers per day. The County’s population grew by 4,873 people in just 1 year between July of 2015 and July 2016.
Traffic continues to increase at an even faster pace as not only the number of resident’s increase but also the number of visitors. Traffic counts are a major factor for National Brands and influences their decisions heavily on opening new locations. When traffic increases development will follow. The average daily traffic count for 2015 at the bridge in Gulf Shores is now 56,330 cars per day. That’s an increase of roughly 13,000 cars per day since 2013. The Traffic at the base of the Beach Express increased by around 3,000 cars per day.
OWA Theme Park signing up new local and national tenants. The Park is on track to open this summer and is bringing hundreds of new jobs, residents, and businesses to the area. The announcement of the Wahlburgers Restaurant Chain has created major excitement and is likely to help bring other high visibility tenants.
The average sale price for condos in April 2017 vs April 2016 increased by 18.3%
Home sales saw an average price increase of 8.5%.
Land sales saw an overall price increase of 20%
Baldwin County continues to be a very strong market and we have lots of great things happening. We lead the State in growth and new development, have some of the most beautiful beaches in the world, and continue to be a great place to live, work, invest or vacation.