Daphne, AL

Home sales statistics on the Eastern Shore of the Mobile Metro area continue to show signs of a stabilizing market, though Realtors generally believe home prices continue to fall.

Both home sales and pending sales in Spanish Fort, Daphne and Fairhope/Point Clear showed slight increases over June, 2009. Yet, 20 percent of home sellers reduced prices in July alone to move property.

Seventy-six homes sold in July, up from 73 that sold in June. Pending sales remain encouraging with 162 single-family residences under contract, up from 157 in June. There was a little erosion in the list-to-sale percentage which fell from 96.21% in June to 95.88% in July.

Here are the stats for the Eastern Shore in July, 2009:
Total houses for sale: 1,214
Spanish Fort: 147
Daphne: 372
Fairhope: 562
Lake Forest: 133

Pending sales
Total: 162
Spanish Fort: 23
Daphne: 81
Fairhope: 43
Lake Forest: 15


Closed sales for July 2009
Total: 76
Average sales price: $262,616, up from $252,497 in June, but down from $265,549 in May.
Median sales price: $204,500, down from $211,400 in June and $225,000 in May
List to sale percentage: 95.88%
Spanish Fort: 10
Daphne: 23
Fairhope: 32
Lake Forest: 11

(Data from the Baldwin County Multiple Listing Service)

This Daphne, Alabama home is sold! While it is too late to get in on this great deal, there are so many others out there. If you would like the skinny on some others available, shoot me an email and I will direct you to some of the best deals around, from Mobile to Gulf Shores.

I think one of my favorite moments in Real Estate, is when Buyers get the keys to their new home. This one in Lake Forest was no exception. Smiles all around when this Daphne, Alabama home Sold!

The East Shore Cafe is one of those surprises that you just can't miss when you visit Daphne, Alabama or the Eastern Shore of Mobile Bay in Baldwin County Alabama. Mainly serving breakfast and lunch, they also serve dinner on Friday and Saturday nights. The service is beyond impeccable, the food is delicious and fresh and the atmosphere is warm and welcoming.

Set in an old Daphne Main Street home, the yellow Victorian styled house with its outside tables, porch front tables, white picket fence along Main Street, also offers inside seating in comfortable cozy table arrangements.

On the menu at the East Shore Cafe, you will find soups, sandwiches and salads and other treats made from the freshest of ingredients. One favorite is the Crab Cakes, and they are ever so delicious. My personal favorite is the Tybee Island Club, served with potato salad.

I can't find a website for the Cafe, but Tripadvisor has four nice reviews here. Whether you are out for a drive, looking for a nice lunch spot, it is well worth your time to stop in to the East Shore Cafe at 1506
Main Street in Daphne, Alabama for a meal you will surely enjoy.

Want some good news? The number of homes sold on the Eastern Shore increased 24 percent in the 2nd quarter compared with the 1st quarter.

Priced right for today's market, homes will sell.

Looking at month-by-month sales, it seems that we are bumping along what I hope is the bottom.

Between Spanish Fort and Point Clear, 207 homes sold this past quarter, compared to 157 sales in the 1st quarter of 2009 and 227 sales this time last year. The average sales price was $247,779 this quarter, up from of $223,575 in the first quarter, but down from $301,631 this time last year.

Foreclosures (15) and short sales (2), were among this quarter's sales. And judging by public records listings, there will continue to be distressed properties reaching the market.

The average time it took to sell a home this quarter was 198 days.

Although the average sale prices improved since the 1st quarter, that reflects what is selling.

Make no mistake: Prices are falling. But keep this next fact in mind when you look at these numbers: The upper-end market, over $300,000, remains very slow and represented only about 25% of this quarter's sales. Yet almost half of all homes for sale on the Eastern Shore are priced at $300,000 or more.

On to the stats:

Fairhope: 70 homes sold, up from 59 in the 1st quarter, and not so far off from the 76 that sold this time last year. Average sales price was $284,033, up from $242,771 in the 1st quarter. This time last year the average sale price was $415,410. That is not a typo. That was in fact the market's peak.

The Fairhope market has been hard hit in a multitude of ways:

■ It was always pricey compared to other areas

■ The high-priced waterfront market has been struggling for several years, particularly with the scarcity and pricing of home owners insurance.

■ The retiree market has been hit as hard as many retirees' portfolios

■Traffic and commute times to Interstate 10 have increased

■ Fairhope has prided itself for resisting major retailers, so buyers who want to be close to major retail and all the restaurants and cinemas that go with it, choose other communities.

There are 598 houses on the market in Fairhope.

Daphne/Montrose: 73 homes sold, a healthy increase from the 47 last quarter and the 65 that sold this time last year. Average sales price was $243,600, up from $237,409 in the first quarter. Average sales price was $311,085 this time last year. It took on average 200 days to sell. There are 375 homes on the market here.

Lake Forest: 25 houses sold here, virtually unchanged from the 24 in the 1st quarter, but down from the 40 that sold this time last year. Average sale price was $145,680, up slightly from $140,756 in the 1st quarter, but down from $165,105 this time last year. It took 152 days to sell on average. 129 homes are for sale

Spanish Fort: 39 homes sold, up from 27 in the 1st quarter and almost equal to the 40 sold this time last year. Average sale price was $255,977, up from $231,161 in the 1st quarter, but down from $268,372 in the 2nd quarter of 2008. Average time it took to sell: 135 days. There are 145 houses on the market.

June home sales dipped slightly but pending sales and the list-to-sale percentage show that the market may be stabilizing.
Seventy-three homes sold in June on the Eastern Shore of the Mobile Metro area, down from the 77 sales in May in the area encompassing Spanish Fort, Daphne and Fairhope/Point Clear.
Pending sales increased from 136 in the first week of June to 157 as of July 8, 2009. Sellers also got on average 96.21% of the list price in June, compared with 95.89% in May.


Here are the stats for the Eastern Shore in June, 2009:
Total houses for sale: 1,251
Spanish Fort: 148
Daphne: 377
Fairhope: 600
Lake Forest: 126

Pending sales
Total: 157
Spanish Fort: 28
Daphne: 69
Fairhope: 42
Lake Forest: 18


Closed sales for June 2009
Total: 73
Average sales price: $252,497, down from $265,549 in May.
Median sales price: $211,400, down from $225,000 in May
List to sale percentage: 96.21%
Spanish Fort: 12
Daphne: 28
Fairhope: 23
Lake Forest: 10

(Data from the Baldwin County Multiple Listing Service