Record high tourism coupled with record low interest rates makes real estate on the Gulf Coast even more attractive this Fall!
This past summer proved to be a record breaking season! Vacationers flocked to Perdido Key in droves to enjoy our beautiful white sandy beaches and emerald green waters. The surprising factor of the season? Luxury resort condos became the focus of many looking to purchase a vacation home. While the sales in all price ranges were strong, properties over $1 million soared up 500% over 2009-2010 years and all purchased with cash.
Even though the luxury market is in the spotlight, Buyers can find great properties to fit almost any budget. Those Buyers looking to take advantage of “bottom of the market” prices should act soon though. Choices are quickly disappearing in segments of the market where inventory is low. Luxury properties like Capri and La Riva now offer limited choices and Riverfront properties like La Serena, Florencia, SeaSpray and Sailmaker’s Place also have dwindling supply. And Lost Key Golf Club, one of the island’s most high demand properties, now only has one residence currently for sale. Despite rumors, there are plenty of financing options available for second homes and investment properties along the coast. Pair that with historically low rates and there is a second home or vacation property to fit almost any budget.
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