The warm weather has brought out buyers in Baldwin County. We have been showing homes for sale the last few weekends. We have noticed an increase in the number of pending homes that our customers have shown interest. We thought that in would be a good time to check the MLS and see if there is a trend that we can report. Here is data that we found:
Date Range Number of Pending Sales Increase % =========== ======================== =========== April 1-14, 2009 62 May 1-14, 2009 69 11%
The median listing price for the homes that went pending in May for Baldwin County is $167,900. The number of pendings shown is probably a little low. There are a few transactions that are actually pending but have not been marked yet by the listing agent as not being available. Most of the pending activity has been in the Foley and Daphne areas. Here is a chart that shows pending by town/location:
Location Number of Pending Sales ======== ======================== Foley 14 Daphne 14 Gulf Shores 8 Fairhope 7 Spanish Fort 6 Orange Beach 6
Spring is a realtor's busiest time of the year. We think the increase in the number of contracts this year is due to a couple of factors:
1) Lower Prices - Prices are down roughly 14% this year compared to last year
2) Negotiating Power - Sellers are more willing to lower their asking price
3) Low Interest Rates - The current mortgage interest rates are around 4.90%
4) Tax Incentives - First time buyers are eligible for $8000 tax credit.
We are happy to see the increase in activity. Please let us know if you have any questions.
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