August sales for homes in Fairhope, Daphne and Spanish Fort AL slowed, but the number of homes going under contract picked up.
Inventory fell by some 60 single family units in early September, from 997 homes for sale in Spanish Fort, Daphne and Fairhope in August to just 938 now.
Foreclosure inventory and sales are down a bit, but this is probably temporary. Short sales listings have increased, which may be a sign that distressed sellers have finally understood that there are options to foreclosures. In fact, of the 90 distress sales on the market, 33 are short sales and 57 are foreclosures.
Here are the stats for the Eastern Shore:
Total houses for sale: 938
Spanish Fort: 134
Daphne: 320
Fairhope: 482
Pending sales
Total: 166
Spanish Fort: 23
Daphne: 82
Fairhope: 61
Closed sales for August, 2011
Total: 100
Average sales price: down to $192,061, compared to down to $204,679 in July and $232,738 in June.
Median sales price: $163,893, an increase over $163,250 in July, but down compared to $180,000 in June.
List to sale percentage: 96.05%, which is an improvement (for sellers) over 95.14% in July.
Spanish Fort: 15
Daphne: 42
Fairhope: 43
(Data from the BaldwinCountyMultiple Listing Service)
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