daphne and fairhope: Pending sales up 27% in Spanish Fort, Daphne and Fairhope - 05/10/12 02:40 PM
The Eastern Shore of Mobile, Ala., metro market continues to trend to the upside with home sales and pending sales up and inventory declining. But it’s pending sales that show the strongest increase at 27 percent (193 the first week in April vs 245 this first week in May). Sales were up 7 percent in April compared to March. Inventory fell 3.8 percent in April. Here’s what’s going on. Total houses for sale: 834, down from 867 the first week in April. Homes for sale in Spanish Fort AL: 124 Homes for sale in Daphne AL: 272 Homes for sale … (1 comments)
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daphne and fairhope: Recapping 2010 home sales in Spanish Fort, Daphne and Fairhope - 01/14/11 01:39 PM
Overall, the 2010 housing market on the Eastern Shore showed marked improvement over 2009 with the number of sales up 13%. But remember, 2009 was pretty bad.
The free-fall depreciation in home values in Fairhope, Daphne and Spanish Fort of 17.5% in 2009 slowed to 3.5% in 2010. Where and when we will hit bottom, no one knows.
The market is giving mixed signals about the future. So let's take a simple supply-and-demand look at it.
Oversupply: 83% of all sales in 2010 were for houses price under $300,000, yet 38% of all the homes currently listed are priced over … (0 comments)
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daphne and fairhope: July 2010 homes sales in Spanish Fort, Daphne and Fairhope - 08/07/10 08:13 PM
Home prices on the Eastern Shore continue to erode but at a much slower pace than last year's 17.5% depreciation. The average sales price of homes in Spanish Fort, Daphne and Fairhope fell 4.5% since the end of 2009. Generally, we were behind the rest of the country when The Great Recession hit, impacting the housing market. So I expect we'll be behind the rest of the country in hitting bottom. Sales were down in July, with 73 homes closing, compared to 90 in June. However, pending sales are up from 123 this time last month to 132. Here are the … (0 comments)
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daphne and fairhope: April 2010 home sales, contracts positive in Spanish Fort, Daphne and Fairhope - 05/13/10 08:54 AM
Closed sales and home contracts posted strong numbers in April, as the home buyer tax credit expired at the end of that month.
On the Eastern shore of Mobile, Ala., 108 homes closed in April, up from 80 units in March. And as of May 12, another 186 homes were under contract, up from 173 in March.
For the third consecutive month, the list-to-sale percentage has stayed near 95%, which may be a sign this market, encompassing Fairhope, Daphne and Spanish Fort, has found its bottom.
The question on everyone's mind: Does this have staying power?
Stay tuned, is all I … (0 comments)
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daphne and fairhope: Bumping along what may be the bottom: Eastern Shore sales stats for 2009 - 07/15/09 04:34 PM
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 … (0 comments)
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daphne and fairhope: April 2009 home sales in Spanish Fort, Daphne and Fairhope - 05/13/09 12:51 PM
Pending home sales increased in the last half of April on the Eastern Shore of the Mobile Metro area.
Overall, home sales declined in April to 53 homes sold in Spanish Fort, Daphne, Fairhope and Point Clear, showing that the housing market is still bobbing through choppy waters. To demonstrate the crests and troughs in sold stats:
January: 40
February: 54
March: 60
Expect better stats in May, with 143 homes under contract in this area, up from the 108 homes that were pending the first part of April. Still, there is a 22-month supply of homes at the current selling … (0 comments)
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daphne and fairhope: March 2009 home sales in Spanish Fort, Daphne and Fairhope, Alabama - 04/07/09 07:39 PM
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 … (0 comments)
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daphne and fairhope: February 2009 home sales in Spanish Fort, Daphne and Fairhope, Alabama - 03/04/09 05:09 PM
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 … (1 comments)
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daphne and fairhope: Did we hit bottom in November 2008? Time will tell in Spanish Fort, Daphne and Fairhope - 01/08/09 01:51 PM
2008? Whew! Glad that's over.
2009? At least we know what we're dealing with.
Here's a backward look on a sorry year in real estate, and a forward look in which I will stick my neck out.
2008:
•n Twenty-four percent fewer homes sold than in 2007 from Spanish Fort to Point Clear.
•n Foreclosures, short sales and distress sales (essentially pre-foreclosures) captured buyers' attention.
•n On the Eastern Shore, the average sales price was down only 1% from the previous year and the median sales price was down just 6%. But it didn't feel that way, and a late-year … (0 comments)
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daphne and fairhope: Home sales in Spanish Fort, Daphne and Fairhope, ALabama for December 2008 - 01/04/09 03:19 PM
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 on the Eastern Shore of Mobile Bay in Alabama.
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 … (0 comments)
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daphne and fairhope: Spanish Fort, Daphne, Fairhope home sales peaked in July then dwindled - 10/09/08 08:53 AM
What's happening in the big wide world of real estate and finance these days?
The answer is way above my pay grade.
Locally, I can tell you it's a good time to buy. Lenders have money, the interest rate is very good and there are plenty of houses for sale.
If I could figure out anything more for our future, George Bush would be painting my toenails while Larry King interviews me in my living room.
Here's what did happen in the last quarter before the collective Freak Out over The Bailout, The Market and The Election.
… (1 comments)
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daphne and fairhope: Home sales in Spanish Fort, Daphne and Fairhope for July, 2008 - 08/04/08 01:21 PM
Home sales were up slightly to 135 solds in July, compared with 128 homes sold in June 2008 from Spanish Fort to Point Clear. The number of houses going under contract remains weak at 119 pendings, up slightly from 114 pendings in June.
July statistics aren't much different from those of a year ago, when the slowdown in home sales started. Typically, July is a slow real estate month with the majority of families with school-aged children trying to close in May/June.
Inventory continues to rise, from 1,237 on the market in June to 1,284 now on the market.
Here … (1 comments)
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daphne and fairhope: 2008 Market conditions for Spanish Fort, Daphne and Fairhope, Alabama - 04/12/08 09:14 AM
What a strange trip this has been. All of us piled up in this stationwagon taking in the sights at CNN and the morning news. Oh look, it's an up day on Wall Street. Uh oh, it's down again.
There, over on the left ... it's another report of unemployment rising.
Stop, put the brakes on. The Fed has spoken and bailed out Bear Stearns!
Everyone in the car keeps asking if we're there yet. Is this bottom?
It's times like these that make me wish I could present these figures in a grid format and let you take from … (0 comments)
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daphne and fairhope: 2008 Real Estate Market Predictions for Daphne, Spanish Fort and Fairhope - 01/08/08 07:14 PM
Wet. Cold. Hot. That was the weather as we moved into 2008. In other words, shifting.
That's what we'll see with the market in the first half of 2008 and the indicators are already out there.
Mortgages: Interest rates remain competitive, generally floating between a low of 5.5% (which they hit Jan. 7 locally) to 6.25%. Some lenders who escaped the subprime slime will come out with creative packages to lure buyers. Financial markets: No predictions here except to say the gyrating stock market may scare some investors. There is a possibility that some will turn to real estate as … (1 comments)
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