March homes sales on the Eastern Shore of Mobile Bay rose again to 60 homes sold in Spanish Fort, Daphne, Fairhope and Point Clear in January, compared to 54 in February and 40 in January.
Buyers are looking, but that's not materializing into a strong increase in pending sales. As of April 7, 108 homes are under contract, compared to 92 last month and 102 in January.
As the reality of the housing market correction sinks in, over 590 price adjustments -- a few up but most down -- were made in March. Inventory increased to 1,190 homes for sale, up from 1,129 in February.
Here are the stats for the Eastern Shore in March, 2009:
Total houses for sale: 1,190
Spanish Fort: 134
Daphne: 364
Fairhope: 561
Lake Forest: 131
Pending sales
Total: 108
Spanish Fort: 26
Daphne: 43
Fairhope: 28
Lake Forest: 11
Closed sales for March 2009
Total: 60
Average sales price: $234,084, a healthy increase from $208,019 in February, but much lower than the average in March of last year of $290
Median sales price: $206, 563, another increase from February's $179,950, but again down from March ‘08's $231,750
List to sale percentage: 94.44%
Spanish Fort: 9
Daphne: 18
Fairhope: 24
Lake Forest: 9
(Data from the Baldwin County Multiple Listing Service)
February home sales on the Eastern Shore ticked up to 54 houses closed compared with 40 homes sold in Spanish Fort, Daphne, Fairhope and Point Clear in January.
For a February, it wasn't a bad month compared to the fall of ‘08. It was, however, not as good as February 2008 when 64 homes sold.
A couple of things stand out from analyzing data from the Baldwin County Multiple Listing Service. Only 6 homes on the Eastern Shore over $400,000 have gone under contract since the first of the year.
Pending sales registered a slight decline with 92 homes under contract as of March 4, 2009, compared with 102 under contract a month ago.
As expected in our early spring, inventory is rising with 1,129 homes on the market in this area, an increase of 50 listings over last month.
Here are the stats for the Eastern Shore in February, 2009:
Total houses for sale: 1,129
Spanish Fort: 127
Daphne: 352
Fairhope: 527
Lake Forest: 123
Pending sales
Total: 92
Spanish Fort: 19
Daphne: 30
Fairhope: 33
Lake Forest: 10
Closed sales for February 2009
Total: 54
Average sales price: $208,019, down from $228,944 in January 2009
Median sales price: $179,950, down from $216,800 in December
List to sale percentage: 94.69%
Spanish Fort: 12, where the highest selling price was $576,000
Daphne: 12, where the highest selling price was $375,000
Fairhope: 19, where the top seller was $534,600
Lake Forest: 11, where the highest selling price was $192,500
February home sales on the Eastern Shore ticked up to 54 houses closed compared with 40 homes sold in Spanish Fort, Daphne, Fairhope and Point Clear in January.
For a February, it wasn't a bad month compared to the fall of ‘08. It was, however, not as good as February 2008 when 64 homes sold.
A couple of things stand out from analyzing data from the Baldwin County Multiple Listing Service. Only 6 homes on the Eastern Shore over $400,000 have gone under contract since the first of the year.
Pending sales registered a slight decline with 92 homes under contract as of March 4, 2009, compared with 102 under contract a month ago.
As expected in our early spring, inventory is rising with 1,129 homes on the market in this area, an increase of 50 listings over last month.
Here are the stats for the Eastern Shore in February, 2009:
Total houses for sale: 1,129
Spanish Fort: 127
Daphne: 352
Fairhope: 527
Lake Forest: 123
Pending sales
Total: 92
Spanish Fort: 19
Daphne: 30
Fairhope: 33
Lake Forest: 10
Closed sales for February 2009
Total: 54
Average sales price: $208,019, down from $228,944 in January 2009
Median sales price: $179,950, down from $216,800 in December
List to sale percentage: 94.69%
Spanish Fort: 12, where the highest selling price was $576,000
Daphne: 12, where the highest selling price was $375,000
Fairhope: 19, where the top seller was $534,600
Lake Forest: 11, where the highest selling price was $192,500
I love a parade. Grew up in New Orleans ... need I say more.
Got engaged right after one the Saturday before Mardi Gas. I may even be a parade magnet ... found one in Lichtenstein in '87.
Mobile and it's surrounding areas have parades for the two weeks leading up to Mardi Gras.
It's a time where pearls go with tennis shoes. Or tatoos with ball gowns.
A time where I replenish my everyday glassware -- cups imprinted with the royal Krewe de la Loo or the Merry Widows.
A time where the sky is crulean blue and the breezes a bit stiff, but the azaleas are budding and the days getting longer.
January has never been a strong month for home sales. So it's no real surprise that only 40 homes sold in Spanish Fort, Daphne, Fairhope and Point Clear last month. In fact, only 42 sold in January 2008.
So I remain watchful for signs showing the housing market's direction in the coming months.
Pending sales are up to 102 as of Feb. 4, 2008, compared with 86 homes under contract just after the New Year.
Inventory remains roughly the same at 1,090 homes for sale on the Eastern Shore.
A couple of statistics show that sales of high-end homes were anemic, with the average sales price dropping dramatically. However, the list-to-sale percentage rebounded to 94.21% in January, up from 91.99% in December. Stats are drawn from the Baldwin Multiple Listing System.
Here are the stats for the Eastern Shore in January, 2009:
Total houses for sale: 1,079
Spanish Fort: 127
Daphne: 327
Fairhope: 506
Lake Forest: 130
Pending sales
Total: 102
Spanish Fort: 24
Daphne: 30
Fairhope: 35
Lake Forest: 13
Closed sales for January 2009
Total: 40
Average sales price: $228,944, down from $274,054 in December
Median sales price: $216,800, down from $225,000 in December
List to sale percentage: 94.21%
Spanish Fort: 7, where the highest selling price was $259,900
Daphne: 17, where the highest selling price was $394,500
Fairhope: 13, where the top seller was a $670,000 foreclosure
Lake Forest: 3, where the highest selling price was $161,000
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Janet English, RE/Max By The Bay, offers top-notch market, school and community information to clients in Spanish Fort, Daphne and Fairhope in Baldwin County Alabama
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