September homes sales on the Eastern Shore rose again and inventory continued to decline.
The number of homes sold rose 12 percent in Fairhope, Daphne and Spanish Fort, while inventory declined about 3 percent.
Pending sales in mid-October are down 19% over the previous month.
The outlook is cloudy with the foreclosure debacle likely to play out over the coming months. Investigations that major lenders "robo-signed" foreclosure documents without careful scrutiny have forced Bank of America to put a halt to some foreclosure proceedings in some states. Other banks are taking action to review their processes. But locally, foreclosures are still being posted for sale on the courthouse steps. So, we'll see.
Here are the stats for the Eastern Shore:
Total houses for sale: 1,151
Spanish Fort: 140
Daphne: 410
Fairhope: 601
Pending sales
Total: 128
Spanish Fort: 25
Daphne: 47
Fairhope: 56
Closed sales for September 2010
Total: 81, up from 71 in August
Average sales price: $225,689, up from $216,256 in August, but down from $243,086 in July.
Median sales price: $196,900, up from $192,175 in August, but down from $208,500 in July.
List to sale percentage: Steady at 95.32%, compared to 95.4% in August and 94.02% in July
Spanish Fort: 12
Daphne: 40
Fairhope: 29
(Data from the Baldwin County Multiple Listing Service)
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