June home sales dipped slightly but pending sales and the list-to-sale percentage show that the market may be stabilizing.
Seventy-three homes sold in June on the Eastern Shore of the Mobile Metro area, down from the 77 sales in May in the area encompassing Spanish Fort, Daphne and Fairhope/Point Clear.
Pending sales increased from 136 in the first week of June to 157 as of July 8, 2009. Sellers also got on average 96.21% of the list price in June, compared with 95.89% in May.
Here are the stats for the Eastern Shore in June, 2009:
Total houses for sale: 1,251
Spanish Fort: 148
Daphne: 377
Fairhope: 600
Lake Forest: 126
Pending sales
Total: 157
Spanish Fort: 28
Daphne: 69
Fairhope: 42
Lake Forest: 18
Closed sales for June 2009
Total: 73
Average sales price: $252,497, down from $265,549 in May.
Median sales price: $211,400, down from $225,000 in May
List to sale percentage: 96.21%
Spanish Fort: 12
Daphne: 28
Fairhope: 23
Lake Forest: 10
(Data from the Baldwin County Multiple Listing Service