May home sales increased 22 percent over April on the Eastern Shore of the Mobile Metro area.
This typical seasonal bump of 77 homes sold was still some 15 percent lower than sales in May 2008 when 91 houses closed. However, it was better than April’s 53 sales in Spanish Fort, Daphne/Lake Forest and Fairhope/Point Clear.
Pending sales have declined slightly with 136 homes under contract, compared to 143 under contract this time last month.
Average sales price and median sales price both rose significantly. But this reflects the type of home selling, not that home prices are increasing across the board. In fact, May marks a milestone: The first and only home over $1 million to close on the Eastern Shore this entire year closed in May.
Here are the stats for the Eastern Shore in May, 2009:
Total houses for sale: 1,240
Spanish Fort: 141
Daphne: 372
Fairhope: 596
Lake Forest: 137
Pending sales
Total: 136
Spanish Fort: 26
Daphne: 61
Fairhope: 34
Lake Forest: 15
Closed sales for May 2009
Total: 77
Average sales price: $265,549, up from $217,849 in April.
Median sales price: $225,000, up from $206,563 in April
List to sale percentage: 95.89%
Spanish Fort: 18
Daphne: 22
Fairhope: 26
Lake Forest: 8
(Data from the Baldwin County Multiple Listing Service)