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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