March homes sales on the Eastern Shore of Mobile Bay rose again to 60 homes sold in Spanish Fort, Daphne, Fairhope and Point Clear in January, compared to 54 in February and 40 in January.
Buyers are looking, but that’s not materializing into a strong increase in pending sales. As of April 7, 108 homes are under contract, compared to 92 last month and 102 in January.
As the reality of the housing market correction sinks in, over 590 price adjustments -- a few up but most down -- were made in March. Inventory increased to 1,190 homes for sale, up from 1,129 in February.
Here are the stats for the Eastern Shore in March, 2009:
Total houses for sale: 1,190
Spanish Fort: 134
Daphne: 364
Fairhope: 561
Lake Forest: 131
Pending sales
Total: 108
Spanish Fort: 26
Daphne: 43
Fairhope: 28
Lake Forest: 11
Closed sales for March 2009
Total: 60
Average sales price: $234,084, a healthy increase from $208,019 in February, but much lower than the average in March of last year of $290
Median sales price: $206, 563, another increase from February’s $179,950, but again down from March ‘08’s $231,750
List to sale percentage: 94.44%
Spanish Fort: 9
Daphne: 18
Fairhope: 24
Lake Forest: 9
(Data from the Baldwin County Multiple Listing Service)