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 can say.
Here are the stats for the Eastern Shore:
Total houses for sale: 1,250, including 80 short sales or foreclosures.
Spanish Fort: 132
Daphne: 362
Fairhope: 638
Lake Forest: 118
Pending sales
Total: 186
Spanish Fort: 29
Daphne: 65
Fairhope: 68
Lake Forest: 24
Closed sales for April 2010
Total: 108 (22 short sales or foreclosures)
Average sales price: $204,151, down from $240,787 in March and $240,136 in February.
Median sales price: $186,500, down from $206,750 in March but up from 179,850 in February.
List to sale percentage: 95.25%, up from 94.84% in March but down from 95.44% in February
Spanish Fort: 18
Daphne: 35
Fairhope: 40
Lake Forest: 15
(Data from the Baldwin County Multiple Listing Service)
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