Fairhope, AL -- (SBWIRE) -- 04/27/2015 -- The sale of Orange Beach luxury condominiums hit its highest monthly level in March 2015, based on a report from Rick Phillips. Rick has been managing the Alabama's most bustling real estate project, Junonia Beach Resort.
The report outlines luxurious homes like condominiums, houses, tenancy in common (TIC) and coops units that sell for $2 million or even more.
The report also observed that the prices of luxury condominiums for sale in Orange Beach increased by 32% for the quarter and 66% in the past year with a 41% point variance in-growth as compared to the rest of the orange Beach real estate market.
There have been 89 such condo sales in March 2015, significantly more than twice the amount in March 2014 that was 42. In general, luxury condominium sales have doubled since their greatest before the real estate collapse of 2008, the report said.
"Part of this speaks towards the rise in wealth within the Bay Region, and some part of it's because of current house value appreciation," the report stated.
During the past year, there have been 617 condominium sales within the $2 million-plus range. The higher prices in the Alabama have been in the Gulf and Orange beach neighborhoods, where in actuality the average sales cost was $4.99 million.
In several neighborhoods, such as the condominiums within the South Beach, Gulf shores, and Orange beach, houses have now been sold for $1,600 per-sq. ft.
However, the Junonia Beach Resort report provides, that some luxury properties can be sold off the MLS for higher numbers. A minimum of one orange beach, ocean view condominium actually as large as $5,000 per-sq. ft.
About Junonia Beach Resort
The Junonia Beach Resort is one of the leading real estate company based in Fairhope, Alabama. The Junonia Beach Resort provides exclusive luxury condos furnished with quality fittings and best amenities to enable its clientele to enjoy an unobstructed Gulf view from the comfort of their homes.
For more information and other media related inquiries, please contact:
Metropolitan Statistical Area: Fairhope
Contact Name: Green Circle Agency
Contact Email: email@example.com
Complete Address: P.O. Box 1085 Fairhope, AL
Zip Code: 36533
Contact Phone: 800-773-6503