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Market hotter than ever in Spanish Fort, Daphne, Fairhope

Home sales are blistering hot with 525 sales in Spanish Fort, Daphne and Fairhope in the 2nd Quarter of 2015.
This one quarter eclipses any records I have since I started this newsletter back in the early 2000s. It’s better than after Hurricane Ivan in 2004, when so many in south Baldwin County retreated to the Eastern Shore while they rebuilt at the beach. It’s better than 2005, when this area became a safe haven after the tragic diaspora from Hurricane Katrina.
In fact, the number of sales is up 30% for the first half of 2015, compared to the same time last year. And sales are up 22% in the 2nd Quarter of 2015 vs the 2nd Quarter of 2014.
For the first half of the year, prices are up 7% compared to 2014; and up 8.3% when comparing the 2nd Quarter of 2014 to 2015.
In the 2nd Quarter, new construction made up 25.6% of sales (with an average price per square foot for you ppsf-watchers of $111). But foreclosures and short sales represented only 4.6% of sales – a mere 24 homes.
Here’s what happened on the Eastern Shore of the Mobile, Ala., metro area during the 2nd Quarter.
Eastern Shore total : In ... more

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