The patient has a pulse. And it’s steady and growing stronger. Vital signs for this beleaguered housing market continue to stabilize with 85 home sales in November on the Eastern Shore of Mobile, Ala. Pending sales also remain steady in Spanish Fort, Daphne and Fairhope.
For buyers and Realtors there is one troubling factor: inventory continues to decline and with it housing choices. The new year will undoubtedly bring more inventory, but will it be enough for the demand?
Here are the numbers.
Total houses for sale: 742 vs 763 at the first of November.
Homes for sale in Spanish Fort AL: 100
Homes for sale in Daphne AL: 278
Homes for sale in Fairhope AL: 363
Pending sales:
Total: 196
Spanish Fort: 36
Daphne: 72
Fairhope: 88
Closed sales for November 2012
Total: 85, compared with 81 in October
Average sale price: $246,367, compared with $210,000 in October and $186,500 in September.
Median sales price: $207,700, which is down from October’s $225,000, but up from $190,175 in September.
List to sale percentage: 96.87%
October sales in Spanish Fort: 10
Daphne: 36
Fairhope: 39
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