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Home sales improved in December in Spanish Fort, Daphne, Fairhope and Point Clear. Sixty-six homes sold in December, up from the abysmal statistic of only 47 home sales in November.
Pending sales dropped to 86 under contract as of Jan. 3, 2009. That's a decrease from the 98 under contract in November.
Inventory dropped from 1,157 homes for sale on the Eastern Shore as of early December to 1,079 homes for sale Jan. 3, 2009. But this is only because a tremendous number of listings expired with the old year. Expect them to be brought back on the market rapidly.
Interest rates dropped before Christmas to a low of 4.25%, but that held briefly. Still, rates have vacillated in the upper-4% to lower-5% area since.
The list to sale percentage has widened, meaning sellers are making deals to get houses sold. In November, the list-to-sale percentage was 95.21%; in December it dropped to 91.99%. In other words, sellers took on average 8% off the price of the house.
Here are the stats for the Eastern Shore in December:
Total houses for sale: 1,079
Spanish Fort: 118
Daphne: 329
Fairhope: 501
Lake Forest: 1131
Pending sales
Total: 86
Spanish Fort: 20
Daphne: 28
Fairhope: 29
Lake Forest: 9
Closed sales for December 2008
Total: 66
Average sales price: $274,054
Median sales price: $225,000
List to sale percentage: 91.99%
Spanish Fort: 7
Daphne: 24
Fairhope: 21
Lake Forest: 5
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Timbercreek Subdivision real estate experienced thirty one home sales for 2008. Due to its proximity to Interstate 10 with quick access to Pensacola, Florida and Mobile, Alabama, its golf courses, and subdivision amenities, Timbercreek remains a popular choice in residency for Eastern Shore inhabitants. With the Eastern Shore Centre shopping complex located across from its main entrance, Timbercreek has something for everyone within a short distance from home.
For Current Timbercreek Home Listings Click on This Link
Closed 2008 Sales
Address List Price Sold Price SP/LP% Days on Market
| 30108 Loblolly Cir | $269,000 | $254,000 | 94.42% | 308 | |
| 8336 Sassafras Court | $284,900 | $273,500 | 96.00% | 280 | |
| 30155 Green Ct | $290,000 | $270,000 | 93.10% | 114 | |
| 30210 Loblolly Cir | $293,500 | $279,000 | 95.06% | 169 | |
| 30233 Green Ct | $298,500 | $287,750 | 96.40% | 74 | |
| 30146 Persimmon Dr | $299,900 | $275,000 | 91.70% | 100 | |
| 30944 Pine Ct | $315,000 | $305,000 | 96.83% | 107 | |
| 30514 Pine Ct | $329,900 | $315,000 | 95.48% | 255 | |
| 8716 Pine Run | $349,900 | $325,000 | 92.88% | 83 | |
| 9726 Aspen Cir | $359,900 | $330,000 | 91.69% | 336 | |
| 30499 Laurel Ct | $359,900 | $350,000 | 97.25% | 37 | |
| 8727 Tupelo Ct | $369,900 | $350,000 | 94.62% | 102 | |
| 9210 Cedar Ct | $375,000 | $362,000 | 96.53% | 157 | |
| 30142 D'olive Ridge | $389,000 | $352,000 | 90.49% | 75 | |
| 8803 Pine Run | $394,900 | $375,000 | 94.96% | 49 | |
| 30760 Pine Ct | $395,000 | $365,000 | 92.41% | 133 | |
| 30411 Middlecreek Cir | $399,900 | $365,000 | 91.27% | 176 | |
| 9581 Aspen Circle | $399,900 | $395,000 | 98.77% | 71 | |
| 30120 D'olive Ridge | $430,000 | $416,000 | 96.74% | 448 | |
| 30611 Middlecreek Cir | $439,000 | $439,000 | 100.00% | 24 | |
| 8110 Pine Run | $443,443 | $410,000 | 92.46% | 252 | |
| 9447 Sweet Gum Ct | $447,000 | $430,000 | 96.20% | 59 | |
| 30346 Middlecreek Cir | $449,000 | $429,000 | 95.55% | 30 | |
| 9476 Pulpwood Circle | $450,000 | $430,000 | 95.56% | 170 | |
| 8228 Pine Run | $459,900 | $450,000 | 97.85% | 247 | |
| 8196 Pine Run | $499,900 | $469,900 | 94.00% | 32 | |
| 29976 D'olive Ridge | $499,900 | $469,500 | 93.92% | 159 | |
| 30014 D'olive Ridge | $515,000 | $503,000 | 97.67% | 124 | |
| 8101 Pine Run | $569,900 | $557,397 | 97.81% | 116 | |
| 8065 Pine Run | $595,000 | $562,780 | 94.58% | 100 | |
| 8087 Pine Run | $675,000 | $620,000 | 91.85% | 107 | |
| Totals: | $12,647,043 | $12,014,827 | |||
| Averages: | $407,969 | $387,575 | 94.97% | 144 |
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2008 Home Sales in Sehoy Subdivision in Daphne, Alabama
To date, there have been 17 closed sales since January in Sehoy Subdivision. Sehoy sales prices, including what sellers were asking for the properties are listed below, along with how many days the homes were on the market.
Address List Price Sold Price SP/LP% Days on Market
| 27551 Claiborne Cir | $228,800 | $223,000 | 97.47% | 121 | |
| 9276 Marchand Av | $245,000 | $236,000 | 96.33% | 297 | |
| 27555 Cahaba Dr | $255,000 | $240,000 | 94.12% | 162 | |
| 27643 Cahaba Dr | $259,900 | $240,000 | 92.34% | 60 | |
| 9550 Autauga Bend | $264,900 | $255,000 | 96.26% | 376 | |
| 9462 Autauga Bend | $266,900 | $266,900 | 100.00% | 250 | |
| 27537 Cahaba Dr | $269,900 | $257,500 | 95.41% | 146 | |
| 9479 Autauga Bend | $269,900 | $264,900 | 98.15% | 54 | |
| 9588 Marchand Av | $289,900 | $275,000 | 94.86% | 81 | |
| 27534 Lachlan Court | $295,000 | $278,000 | 94.24% | 238 | |
| 27768 Oakachoy Lp | $299,900 | $275,000 | 91.70% | 697 | |
| 9302 Sehoy Blvd | $299,900 | $299,000 | 99.70% | 118 | |
| 9422 Montpelier Place | $325,300 | $285,500 | 87.77% | 374 | |
| 27716 Ft Toulouse Ct | $339,900 | $305,000 | 89.73% | 371 | |
| 9444 Marchand Av | $339,900 | $327,000 | 96.20% | 77 | |
| 28012 Oakachoy Lp | $399,000 | $385,000 | 96.49% | 20 | |
| 9545 Marchand Av | $439,900 | $439,900 | 100.00% | 127 | |
| Totals: | $5,089,000 | $4,852,700 | |||
| Averages: | $299,352 | $285,453 | 95.34% | 209 |
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I was recently asked to provide information to a potential seller about what today’s buyer is willing to pay for homes in the Lake Forest area of Daphne, Alabama. I thought after my research that I would post this timely information as others may benefit from it, and it does apply to all areas and subdivisions in Baldwin County as well.
As you have probably noticed in your neighborhood, many nice homes are sitting on the market and are not selling. Why is that? Because buyers are not willing to pay top dollar in this market we are now in. You may be wondering what is selling, what buyers are looking for today, and what prices homes will bring.
Today, there are 139 homes for sale in the MLS in Lake Forest alone, with 9 of these pending. In addition, there are a few dozen for sale by owner homes in the subdivision. Many other homes have expired from the MLS without selling.
From these numbers, you can see that competition is very tough for sellers to attract the few buyers that are out there. What this translates to is that PRICE is what will sell a home in this market. The lowest priced homes for the size are selling, and buyers can afford to be choosey with so many to look at.
Pretty much the lowest price house, in the best shape is getting offers, while other very nice homes just sit on the market and aren’t getting any offers.
These statistics are sobering: In just over three months, only 16 homes out of over 180 homes up for sale have sold in Lake Forest in Daphne. If no other homes entered the market for sale, it would take THREE YEARS to reduce the inventory of available homes at this rate.
From this you can see that PRICE is indeed what it will take to sell a home today. So, if you are taking the approach of , "Let's price it high because we can always come down", you may just have three years to see if your idea will work to attract your buyer.
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November 2008 home sale statistics for Spanish Fort, Daphne and Fairhope, Alabama
Home sales in November, 2008, dropped to 47 houses sold in Spanish Fort, Daphne, Fairhope and Point Clear. This follows the home sales peak of 135 sales in July, then a decline to 84 in August, 71 in September, and 53 in October.
Pending sales have risen slightly to 98 homes under contract, compared with only 87 under contract in October.
Inventory continues to decrease slightly to 1,157 homes for sale on the Eastern Shore as of Dec. 3.
As we all know, there are few bright spots in the economy these days. A big however is that mortgage interest rates have fallen, hovering around 5.25 percent. Let's hope that word spreads.
Here are the stats for the Eastern Shore in November:
Total houses for sale: 1,157
Spanish Fort: 127
Daphne: 339
Fairhope: 561
Lake Forest: 130
Pending sales
Total: 98
Spanish Fort: 20
Daphne: 42
Fairhope: 35
Lake Forest: 7
Closed sales for November 2008
Total: 47
Average sales price: $266,916
Median sales price: $210,00
List to sale percentage: 95.21%
Spanish Fort: 6
Daphne: 18
Fairhope: 15
Lake Forest: 8
Janet English, RE/Max By The Bay, 251 591-2411
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