February 2011 home sales show nice rebound in Spanish Fort, Daphne and Fairhope

February may be a short month, but a lot was packed into it for housing on the Eastern Shore of the Mobile, Ala., metro area.

Home sales in Spanish Fort, Daphne and Fairhope rose from 57 in January to 82 in February. But one-in-three sales was a foreclosure or short sale.

Pending sales are also stronger than in recent months with some 173 homes under contract in early March, up from 146 during early February.

After a couple of real and disappointing blows to the local economy - the Gulf Oil Spill and the loss of the Air Force refueling tanker contract - this area may very well pin its hopes on a rebound in tourism during spring break.

Here are the stats for the Eastern Shore:
Total houses for sale: 1,010 (93 are foreclosures or short sales)

Spanish Fort: 121
Daphne: 354
Fairhope: 535

Pending sales
Total: 173        
Spanish Fort: 26

Daphne: 73
Fairhope: 74
 
Closed sales for February, 2011
Total: 82, up from 57 in January
Average sales price: $249,939, up from January's $197,999 and December's $241,646.

Median sales price: $183,000, up from $165,750 in January but down from $228,000 in December.

List to sale percentage: 94.72%, a small slip from 95.01% in January and December's 95.34%.

Spanish Fort: 15
Daphne: 38
Fairhope: 29

 (Data from the Baldwin County Multiple Listing Service)