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Inventory is critical

April 2021 Eastern Shore Market Report for Fairhope, Daphne and Spanish Fort

The good new first:

n  Home prices on the Eastern Shore of Mobile Bay are up 13% over this time last year.

n  The number of homes sold is up almost 17% in Spanish Fort, Daphne and Fairhope,

And then there’s the other news:

n  There is an extremely critical shortage of homes for sale. And the shortage continues to worsen with each passing month. For example, in early April 2020 there were 745 homes on the market here; now, there are just 210. Yes, that’s TWO HUNDRED TEN homes! We went for years and years with 1,200 homes typically for sale.

n  Some buyers are being priced out of the market. Lately, the cheapest homes available -- euphemistically “handy-man” specials – will start at $180,000.

n  There appears to be a whole crew of folks who are sitting on the sidelines waiting for the day when they have more to choose from and hoping that prices will retreat.

The winners here are sellers with estates or rental properties. Homeowners who want to make a hefty profit and who already have a place to land, be it a condo or a second home, are also taking advantage of this market. It’s the folks who want to move up or to downsize (and there are a lot of them) who are standing pat.

Interestingly, we can blame some of this on semiconductor

Chips -- microprocessors -- are found in everything from cars to computers to appliances. Between the pandemic, geopolitics and a little shutdown in Texas after the Freeze-magedon, a severe chip shortage developed, leading to backlogs industry wide. Just try buying a PC, a Ford F-150 or refrigerator and you’ll be introduced to Supply-Chain Economics 101.

An insightful fact from Bloomberg News: Samsung’s plant in Austin, Texas, was taken out by the freeze of Feb. 15 and only came back online at the end of March. The one plant produces 28% of the company’s entire chip supply.

In the housing industry, the chip shortage has affected new construction as builders wait for shipments of in-home appliances.

Of course, it’s not just the semiconductors in short supply. Roofing and other building materials have also become hard to find and subsequently pricy.

So without an abundance of brand-new homes to consider, buyers are keenly focused on the existing homes for sale. And now the latter, too, are in short supply.

On to the numbers

Eastern Shore:

Number of homes sold in 1st Quarter

2020                2021

521                  609

Average sales price:

$319,085         $361,121

Price decrease to close

2.6%                1.81%

Spanish Fort 1st Quarter

Number of homes sold in 1st Quarter

2020                2021

122                  144

Average sales price:

$299,539         $331,407

Price decrease to close

2%                   1.8%

Daphne 1st Quarter

Number of homes sold in 1st Quarter

2020                2021

209                  240

Average sales price:

$261,870         $289,615

Price decrease to close

2%                   0.91%

Fairhope first quarter 1st Quarter

Number of homes sold in 1st Quarter

2020                2021

190                  225

Average sales price:

$394,572         $456,412

Price decrease to close

3.3%                2.6%

 

 

How’s your golf game?

October 2017 Eastern Shore Market Report for Spanish Fort, Daphne and Fairhope

 

Last week there was a Realtor’s open house and what happened that day I hope I can carry with me for the rest of my days.

 

My son, Jack, is now a Realtor working for D.R. Horton, which hosted the open house.

 

Trays of green beans, roasted potatoes and sautéed chicken were set up in the kitchen, with some agents digging in while others looked longingly at the spread.

 

 And there was John. He piled a salad high, then ladled chicken on top of that. I chuckled at his creation, he shrugged and we headed under the tent outside to talk.

 

John is an old colleague of mine. And we see each other around at the tennis courts.

 

John also is an avid golfer. So I knew he was the one to ask about what I had been told was now “free golf” at the Lake Forest course.

 

“It’s really five dollars,” John said.

 

“So free,” I replied and we laughed.

 

Son Jack joined us and picked up the thread of conversation.

 

“How’s your golf game?” Jack asked.

 

John said he’d taken lessons from a pro to tune up his swing. And then he told about another lesson entirely. I will paraphrase.

 

One day, said John, he’d had a chance to chat with a golfer whose skills he’d long admired.

 

“I asked this guy about his handicap,” John said. “And he said: ‘I don’t keep score anymore.’”

 

So, said John, “I’ve quit keeping score and it’s so freeing. My game is better than ever.”

 

In America, we keep score. We grade everything. We compete.

 

First in our class. Top dog. No. 1 fan.

 

But the darker side of this score-keeping is losing sight of the enjoyment of the task at hand, the long drive down the fairway, the wicked serve. Or work without pay, but rich in reward.

 

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I’m excited about my new website because it gives everyone access to so much more information. Go to MobileSuburbs.com or JanetEnglish.com and you’ll find that you can track neighborhoods, get information about sales and pending sales, and even get an instant evaluation of your home’s value.

 

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Here’s what’s going on in home sales in Spanish Fort, Daphne and Fairhope.

 

The number of homes sold on the Eastern Shore rose 15% over the 2nd quarter, but fell 1% compared to this time last year. Hmmm … what does it mean? Nothing yet.

 

Sales prices did just the opposite: Average price was down 2.2% over the previous quarter, but was up 5.2% compared to the 3rd quarter of 2016. Again, it doesn’t mean anything … yet.

 

For the Eastern Shore: There were 537 sales vs. 543 sales in the 3rd quarter of 2016. The average sales price rose to $280,216 from $266,296 a year ago. The time it took to sell fell from 142 days a year ago to 124 days. And sellers trimmed 2.21% off their prices In order to close.

 

Here’s the data for the individual cities on the Eastern Shore:

 

Fairhope: 205 homes sold with an average price of $327,510. This compares to 224 sales with an average price of $304,884 in the 3rd quarter of 2016. It took on average 119 days to sell. Sellers trimmed 2.7 % off list, on average, in order to sell, while days on market dropped from 145 this time last year to 119.

 

Daphne: 224 homes sold, little changed from the 222 homes sold this time last year. Average sales price rose to $239,013 from $226,980 in the 3rd quarter of 2016. Days on market dropped from 137 this time last year to 113 days. Sellers sliced 2.14% off list, on average, to sell.

 

Spanish Fort:  108 homes sold with an average price of $275,905, compared to 97 sales with an average price of $267,168 this time last year. It took on average 154 days to sell, a slight increase over 148 days in the 3rd quarter of 2016. The list-to-sale percentage was 1.14%

 

Active Properties
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
11251 Lot 41 Highway 104 N/A N/A N/A $154,900 Unknown 5 days
Elderberry Drive N/A N/A N/A $25,000 Unknown 1 day
Elderberry Drive N/A N/A N/A $32,000 Unknown 1 day
Elderberry Drive N/A N/A N/A $30,000 Unknown 1 day
Elderberry Drive N/A N/A N/A $26,000 Unknown 1 day
Elderberry Drive N/A N/A N/A $26,000 Unknown 1 day
Elderberry Drive N/A N/A N/A $26,000 Unknown 1 day
Elderberry Drive N/A N/A N/A $25,000 Unknown 1 day
Elderberry Drive N/A N/A N/A $28,000 Unknown 1 day
Elderberry Drive N/A N/A N/A $28,000 Unknown 1 day
Elderberry Drive N/A N/A N/A $30,000 Unknown 1 day
130 Willow Lake Drive 4 4 4,516 $1,475,000 $326.62 0 days
8762 Riverton Court 4 3 2,326 $480,000 $206.36 0 days
2086 Sea Cliff North Unit 2086 1 1 538 $140,000 $260.22 0 days
10284 Bay Haven Circle 4 2 1,558 $550,000 $353.02 1 day
Harnora Drive N/A N/A N/A $55,000 Unknown 0 days
Dale Road N/A N/A N/A $150,000 Unknown 0 days
12293 Comalander Road N/A N/A N/A $270,000 Unknown 1 day
Wildflower Trail N/A N/A N/A $42,500 Unknown 1 day
43 Shady Lane N/A N/A N/A $470,000 Unknown 0 days
318 Colonial Dr 3 2 1,983 $469,000 $236.51 0 days
Scenic Highway 98 N/A N/A N/A $225,000 Unknown 0 days
10983 Northern Dancer Ct 4 2 1,787 $295,364 $165.28 0 days
23649 Unbridled Loop 4 2 1,787 $295,380 $165.29 0 days
426 Colony Drive 4 2 3,086 $1,499,000 $485.74 1 day
254 George Street 3 2 1,500 $450,000 $300 152 days
Elderberry Drive N/A N/A N/A $36,000 Unknown 1 day
Elderberry Drive N/A N/A N/A $32,000 Unknown 1 day
9174 Huckleberry Drive 4 2 1,813 $389,900 $215.06 1 day
Elderberry Drive N/A N/A N/A $40,000 Unknown 1 day
00 Joseph Dr N/A N/A N/A $99,000 Unknown 1 day
11248 County Road 54 Unit 54 3 2 2,311 $295,000 $127.65 1 day
Elderberry Drive N/A N/A N/A $36,000 Unknown 1 day
684 Calibre Street 4 3 2,495 $409,868 $164.28 1 day
30741 Bauer Avenue 3 2 1,936 $331,690 $171.33 1 day
23747 Unbridled Loop 4 2 1,387 $273,412 $197.12 2 days
23817 Unbridled Loop 4 2 1,787 $295,364 $165.28 2 days
23807 Unbridled Loop 4 2 1,787 $295,364 $165.28 2 days
23825 Unbridled Loop 4 2 1,787 $295,364 $165.28 2 days
27586 Main Street 2 2 1,680 $515,000 $306.55 2 days
Lot 13 Fairland Ave N/A N/A N/A $125,000 Unknown 2 days
23591 Unbridled Loop 4 2 2,030 $302,476 $149 2 days
23609 Unbridled Loop 4 2 1,787 $295,380 $165.29 2 days
23567 Unbridled Loop 3 2 1,641 $290,340 $176.93 2 days
11269 Elysian Circle 4 3 3,421 $475,000 $138.85 2 days
13164 Shoshone Drive 4 2 1,948 $334,200 $171.56 2 days
11087 Alysheba Lane 4 2 1,787 $295,364 $165.28 2 days
County Road 32 N/A N/A N/A $4,500,000 $42,056.07 2 days
Bay Haven Drive N/A N/A N/A $94,900 Unknown 2 days
139 Michael Lp 3 2 1,370 $159,750 $116.61 5 days
Average: 3.7 2.5 2,445 $420,816 $223 217 days
Viewing 1 - 50 of 674
Viewing 1 - 50 of 674
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
8115 Manley Road 5 2 2,280 $350,000 $153.51 0 days
7530 Blakeley Ridge Drive 5 5 7,672 $1,995,000 $260.04 2 days
113 Marikesh Drive 3 2 1,810 $230,000 $127.07 0 days
13156 Shoshoney Circle 4 2 1,835 $319,900 $174.33 1 day
Elderberry Drive N/A N/A N/A $40,000 Unknown 1 day
138 Donna Circle 3 2 2,124 $180,000 $84.75 2 days
23820 Unbridled Loop 4 2 1,787 $292,364 $163.61 3 days
21029 Yosemite Blvd 4 3 2,304 $387,428 $168.15 5 days
21193 Yosemite Blvd 4 3 2,304 $387,428 $168.15 3 days
11063 Secretariat Blvd 4 3 2,304 $375,000 $162.76 3 days
10950 Centipede Dr 4 3 2,785 $410,142 $147.27 30 days
500 Lincoln Street Unit 106B 2 1 678 $134,000 $197.64 4 days
104 Seville Cir 3 2 1,606 $249,900 $155.60 5 days
517 Grand Avenue 3 1 930 $300,000 $322.58 7 days
17861 S Section Street Unit 18 4 4 3,826 $1,450,000 $378.99 5 days
755 Colony Drive 4 3 2,455 $908,574 $370.09 303 days
750 Culpeo Avenue 4 3 2,606 $573,892 $220.22 6 days
1015 E Dogwood Av 3 2 1,716 $375,000 $218.53 6 days
102 Courthouse Drive Unit 10 2 2 1,236 $249,000 $201.46 7 days
Redfern Road N/A N/A N/A $199,000 Unknown 7 days
Redfern Road N/A N/A N/A $149,000 Unknown 7 days
122 Tomrick Circle 4 3 2,450 $315,000 $128.57 7 days
106 Piedmont Circle 4 2 2,420 $225,000 $92.98 8 days
4 Yacht Club Drive Unit 178 2 2 972 $159,900 $164.51 8 days
693 Calibre Street 4 3 2,495 $408,368 $163.67 8 days
10811 War Emblem Ave 4 2 1,768 $308,900 $174.72 8 days
949 Hibiscus Way 4 3 2,455 $666,303 $271.41 698 days
432 Colony Drive 5 4 4,350 $1,089,689 $250.50 681 days
28177 Turkey Branch Drive 3 2 1,926 $268,500 $139.41 9 days
10313 Canal Circle 2 1 1,120 $259,900 $232.05 9 days
10796 Native Dancer Way 4 2 2,306 $375,000 $162.62 9 days
10150 Dunleith Loop 4 3 2,495 $449,900 $180.32 11 days
861 Colonial Dr 3 2 2,241 $395,000 $176.26 12 days
6580 Haley's Lane 3 2 1,107 $299,000 $270.10 12 days
9168 Huckleberry Drive 3 2 1,914 $300,000 $156.74 13 days
23708 Unbridled Loop 4 2 1,787 $295,364 $165.28 13 days
658 Norman Lane 3 3 2,155 $430,000 $199.54 13 days
110 E Avon Circle 3 2 1,600 $250,000 $156.25 14 days
378 Craftsman Avenue 4 3 2,465 $525,000 $212.98 13 days
4 Yacht Club Drive Unit 202 2 2 1,010 $189,500 $187.62 14 days
30886 Marcel Blvd 4 2 2,314 $366,430 $158.35 14 days
30770 Marcel Blvd 3 2 1,936 $328,555 $169.71 14 days
30742 Marcel Blvd 4 2 1,986 $335,265 $168.81 14 days
30798 Bauer Avenue 4 2 2,120 $345,805 $163.12 14 days
40842 Bauer Avenue 3 2 1,820 $323,415 $177.70 14 days
7826 Pine Run 3 2 2,008 $400,000 $199.20 14 days
11202 Redfern Road 4 5 3,916 $899,900 $229.80 14 days
23720 Unbridled Loop 4 2 2,030 $299,460 $147.52 15 days
30743 Marcel Blvd 4 2 2,120 $348,525 $164.40 15 days
30782 Bauer Avenue 4 2 2,314 $373,900 $161.58 15 days
Average: 3.7 2.5 2,331 $457,495 $202 118 days
Viewing 1 - 50 of 260
Viewing 1 - 50 of 260
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
Kevin Boone Dr N/A N/A N/A $75,000 $70,000 Unknown 259 days 2/1/23
887 Geranium Drive 3 2 1,811 $550,681 $550,681 $304.08 498 days 1/31/23
9366 Swan Point Road 3 2 1,672 $290,000 $310,000 $185.41 15 days 1/31/23
9376 Swan Point Road 3 2 1,672 $290,000 $300,000 $179.43 15 days 1/31/23
11 Confederate Drive 3 2 1,662 $269,000 $267,000 $160.65 47 days 1/31/23
116 Spanish Main 3 2 1,744 $298,000 $282,000 $161.70 70 days 1/31/23
9191 Pembrook Loop 3 2 1,871 $319,900 $298,500 $159.54 88 days 1/31/23
30729 Walling Rd 3 1 1,258 $141,000 $135,000 $107.31 106 days 1/31/23
1 Pier Avenue N/A N/A N/A $1,250,000 $1,100,000 Unknown 320 days 1/31/23
20264 Marion Court 3 2 1,509 $260,000 $276,000 $182.90 21 days 1/30/23
704 Holly Dr 3 2 2,004 $399,500 $394,000 $196.61 23 days 1/30/23
7578 S Tara Blvd 4 3 3,682 $599,000 $500,000 $135.80 24 days 1/30/23
10621 Pecan Drive 3 2 1,929 $324,000 $320,000 $165.89 59 days 1/30/23
31515 Plover Court 4 2 1,948 $320,000 $318,000 $163.24 73 days 1/30/23
10996 Animal Kingdom Way 4 2 1,787 $292,380 $292,380 $163.61 128 days 1/30/23
650 Gayfer Avenue 4 3 3,000 $1,199,999 $1,075,000 $358.33 129 days 1/30/23
30471 D'olive Ridge N/A N/A N/A $40,000 $27,500 Unknown 136 days 1/30/23
31755 Memphis Loop Unit 38 4 3 2,496 $359,900 $360,475 $144.42 140 days 1/30/23
10854 Winning Colors Trail 4 2 2,018 $337,306 $337,306 $167.15 168 days 1/30/23
10623 Winning Colors Trail 4 3 2,785 $391,550 $394,095 $141.51 188 days 1/30/23
10830 Native Dancer Way 5 3 2,409 $376,524 $376,524 $156.30 225 days 1/30/23
11106 Alysheba Lane 4 2 1,787 $290,189 $290,189 $162.39 0 days 1/27/23
11107 Alysheba Lane 4 2 1,787 $291,014 $291,014 $162.85 0 days 1/27/23
245 Ridgewood Drive 3 2 1,250 $235,000 $235,000 $188 41 days 1/27/23
108 Pier Avenue 4 2 1,796 $665,000 $670,000 $373.05 49 days 1/27/23
106 Dewitt Loop 3 2 1,666 $260,000 $252,000 $151.26 45 days 1/27/23
34337 Paisley Avenue 3 2 1,580 $279,000 $279,000 $176.58 46 days 1/27/23
27956 Bay Branch Drive 3 3 2,940 $439,000 $429,000 $145.92 48 days 1/27/23
728 Cheswick Avenue 3 2 1,845 $328,000 $314,500 $170.46 56 days 1/27/23
74 Caisson Trace 3 2 1,919 $292,500 $285,000 $148.51 63 days 1/27/23
607 Southern Way 4 2 2,800 $340,000 $340,000 $121.43 80 days 1/27/23
27018 Augustine Drive 4 3 2,785 $407,142 $407,142 $146.19 87 days 1/27/23
10989 Northern Dancer Ct 4 2 1,787 $289,364 $289,364 $161.93 83 days 1/27/23
23942 Unbridled Loop 4 2 2,030 $296,476 $298,951 $147.27 112 days 1/27/23
117 Golf Terrace Unit 117 2 2 900 $139,000 $130,000 $144.44 121 days 1/27/23
8739 Bainbridge Drive 5 2 2,712 $410,000 $390,000 $143.81 191 days 1/27/23
191 Ornate Avenue 4 3 2,324 $445,950 $440,000 $189.33 193 days 1/27/23
158 Windsor Drive 3 2 1,514 $200,000 $195,000 $128.80 87 days 1/26/23
664 Norman Lane 3 3 2,155 $399,000 $399,000 $185.15 260 days 1/26/23
31139 Spoonbill Road 5 3 3,089 $469,900 $474,900 $153.74 55 days 1/25/23
102 Ironrock Cir 4 2 2,511 $315,000 $305,000 $121.47 112 days 1/25/23
312 Poplar Place 3 3 2,250 $525,000 $515,000 $228.89 125 days 1/25/23
10830 Winning Colors Trail 4 3 2,306 $363,900 $365,192 $158.37 172 days 1/25/23
11063 Alysheba Lane 4 2 1,787 $288,900 $288,900 $161.67 33 days 1/24/23
23931 Flynt Drive 5 3 3,153 $405,000 $325,000 $103.08 171 days 1/24/23
13917 Scenic Highway 98 3 1 1,658 $900,000 $829,000 $500 263 days 1/24/23
7614 Charleston Oaks Drive 3 2 2,080 $329,900 $325,000 $156.25 38 days 1/23/23
19554 County Road 13 3 2 2,105 $319,000 $300,000 $142.52 45 days 1/23/23
16695 Danne Road 4 2 2,100 $540,000 $542,000 $258.10 66 days 1/23/23
26987 Augustine Drive 4 3 2,785 $407,142 $407,142 $146.19 77 days 1/23/23
Average: 3.7 2.5 2,317 $429,150 $420,070 $188 94 days
Viewing 1 - 50 of 1135
Viewing 1 - 50 of 1135

© Baldwin County Association of Realtors, Inc. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocitysm Program. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on .