Gulf Shores's real estate market is experiencing a price correction, with values down 9.9% from last year. Home prices have decreased 3.6% in the past month. With 6.2 months of supply, Gulf Shores's inventory levels remain relatively tight. Homes are now taking an average of 112 days to sell, significantly longer than the 64 days typical for this market. A significant 27.2% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 6.1% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Gulf Shores market with the affordability index at 222.2. Current trends suggest further price adjustments may occur as the market continues to favor buyers.