Foley Alabama Area Real Estate Market Continues To Show A Healthy Increase

Dated: 09/26/2015

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The real estate market in the Foley area continues to remain positive with a healthy and steady growth.

Numbers from the Foley single-family housing market showed positive increases across the board over the first eight months of this year.

The Foley single-family market includes homes in Foley, Summerdale, Silverhill, Robertsdale, Elberta, Bon Secour, Magnolia Springs and Lillian.

Through August 31, the numbers are as follows;

  • 725 homes were sold, up from 621 sold during the same period last year — an increase of 17% year-to-year.

  • The average sale price of homes on the market rose from $151,308 in 2014 to $165,176 in 2015 — a 9% increase.

  • The median sale price also rose year-over-year from $138,000 last year to $145,985 this year — a 6% increase.

  • While homes sold for an average price of $80 per-square-foot during the first eight months of 2014, that number rose to $88 per-square-foot during the same period this year — a 10% increase.

  • There were 162 homes under contract or pending in the region on Sept. 1 this year, compared with 124 at this time last year showing that demand for single family housing continues to be strong.

While the market typically dips a little bit after the summer break, we're seeing a continued interest and project that values will continue to show signs of positive growth through the last quarter of 2015.


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