January home sales in typical decline in Spanish Fort, Daphne and Fairhope

January is probably the bleakest of months for home sales, between post-Christmas belt-tightening and the frigid weather.

And this past month was no different with 57 sales compared to 89 sales in December 2010 on the Eastern Shore of the Mobile, Ala., metro area. Yet compare those numbers to the 43 sales this time last year and the 56 sales in December 2009 and you see a trend. Sweet, eh?

But sales vs pricing are two very different things. And prices are still under extreme pressure from competing foreclosures in Spanish Fort, Daphne and Fairhope. While just under 10% of the housing inventory is a foreclosure or short sale, these homes draw an incredible amount of attention and virtually all will sell eventually. The same cannot be said about the rest of the inventory.

Pending sales are looking good.

IF this area can rebound from the Gulf Oil Spill - and make no mistake: it has had quite an impact, even on the Eastern Shore - we should be in for an improved year in terms of numbers of sales.

Here are the stats for the Eastern Shore:
Total houses for sale: 990 (95 are foreclosures or short sales)

Spanish Fort: 115
Daphne: 353
Fairhope: 522

Pending sales
Total: 146        
Spanish Fort: 26

Daphne: 59
Fairhope: 61
 
Closed sales for January, 2011
Total: 57, down from 89 in December and 64 in November
Average sales price: $197,999 down significantly from December's $241,646.

Median sales price: $165,750, down from $228,000 in December.

List to sale percentage: 95.01%, steady compared to December's 95.34%.

Spanish Fort: 4
Daphne: 29
Fairhope: 24

 (Data from the Baldwin County Multiple Listing Service)