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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
11254 New St 4 2 1,787 $298,964 $167 0 days
15832 Keeney Drive 4 3.5 2,676 $775,000 $289 0 days
32880 Redmond Lane 5 4 3,682 $895,000 $243 0 days
9528 Cumbria Drive 4 2 1,791 $330,000 $184 0 days
23672 Unbridled Loop 4 2 2,031 $309,420 $152 0 days
1086 Sea Cliff North Unit 1086 1 1 538 $139,000 $258 0 days
10727 Crescent Point Ln 3 3 2,754 $1,200,000 $435 4 days
Glover Road Unit B N/A N/A N/A $94,000 Unknown 0 days
Twin Beach Road Unit A & B N/A N/A N/A $198,000 Unknown 0 days
108 Oakwood Avenue 3 2 1,572 $280,000 $178 2 days
23812 2nd Street N/A N/A N/A $500,000 Unknown 0 days
216 Lake Ridge Drive 3 2 2,701 $499,500 $184 0 days
724 Amador Avenue 4 2 2,101 $369,900 $176 1 day
19800 Boothe Road N/A N/A N/A $349,900 Unknown 0 days
16238 State Highway 181 4 3.5 4,270 $1,249,900 $292 0 days
135 Hollow Haven St 4 3 2,600 $639,900 $246 0 days
20355 River Mill Drive 3 2 1,520 $325,000 $213 0 days
8803 Bainbridge Drive 4 3.5 2,485 $450,000 $181 27 days
23584 Unbridled Loop 4 2 1,787 $295,000 $165 0 days
100 Tower Drive Unit 202 3 2 1,730 $350,000 $202 0 days
25806 Pollard Road 3 2.5 1,516 $218,000 $143 0 days
201 Atwater Avenue 4 3.5 2,590 $548,900 $211 1 day
238 Mershon Street 3 3 2,524 $689,500 $273 1 day
21764 Sutherland Cir 4 2 1,776 $303,990 $171 1 day
23694 Sparrows Point 3 2 1,420 $259,900 $183 1 day
21758 Sutherland Cir 4 2 1,886 $313,990 $166 1 day
31836 Meade Court 4 3.5 4,251 $949,900 $223 1 day
Atlanta Circle Unit 26 N/A N/A N/A $89,000 Unknown 1 day
11228 Genuine Risk Circle 4 3.5 2,785 $446,985 $160 1 day
281 Westley St 4 3 1,958 $597,500 $305 1 day
11205 Genuine Risk Circle 4 3.5 2,785 $439,725 $157 1 day
1 Bugle Retreat Unit 32 N/A N/A N/A $39,900 Unknown 1 day
104 Milburn Circle 3 2.5 1,910 $285,000 $149 1 day
27217 parker la Parker Lane N/A N/A N/A $88,000 Unknown 2 days
31914 Kestrel Loop 4 2 1,880 $310,000 $164 2 days
21161 Rachel Myers Lane 5 4.5 5,215 $1,750,000 $335 2 days
8881 Gale Rowe Lane 4 3 2,100 $359,950 $171 2 days
9846 N Alder Avenue 4 3 2,285 $440,000 $192 2 days
841 Summer Lake Street 3 3 2,895 $675,000 $233 3 days
713 Whittington Ave 4 2 2,347 $380,000 $161 3 days
20363 Cadena Creek Avenue 3 2.5 2,270 $399,500 $175 3 days
24823 Smarty Jones Circle 4 3 2,486 $414,000 $166 3 days
671 Whittington Ave 4 2 1,954 $379,000 $193 3 days
213 General Canby Loop 4 2.5 2,391 $410,000 $171 12 days
11581 Lodgepole Court 4 3 2,403 $479,000 $199 3 days
21685 Yosemite Blvd 4 3 2,872 $475,000 $165 3 days
North Circle Unit 385 N/A N/A N/A $142,000 Unknown 4 days
125 Kensington Court 3 2 1,774 $450,000 $253 4 days
453 Boone Lane 4 2 2,348 $824,900 $351 7 days
14032 Scenic Highway 98 4 3 3,228 $967,000 $299 4 days
Average: 3.7 2.7 2,459 $452,908 $232 148 days
Viewing 1 - 50 of 785
Viewing 1 - 50 of 785
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
132 Clubhouse Drive 4 3 3,501 $725,000 $207 2 days
319 Saffron Avenue 5 3 3,063 $675,000 $220 7 days
100 Pinnacle Court 3 2.5 2,755 $525,000 $190 8 days
100 Tower Drive Unit 101 3 2 1,708 $299,000 $175 11 days
114 Michael Lp 4 2 1,718 $324,900 $189 13 days
11135 Genuine Risk Circle 4 3.5 2,785 $439,825 $157 14 days
6818 Cedar Run 2 3.5 2,225 $1,360,000 $611 15 days
13430 County Road 1 1 1 800 $325,900 $407 19 days
11411 Warrie Creek Alley 3 2 2,005 $445,000 $221 20 days
11 Cottage Drive 2 2 1,139 $269,500 $236 25 days
9931 Cumbria Drive 3 2 1,756 $324,900 $185 32 days
13104 Monticello Blvd 4 3.5 2,796 $431,900 $154 34 days
118 Augusta Court 4 5 4,821 $968,000 $200 38 days
20637 Blueberry Lane Unit 47 3 2 1,248 $249,900 $200 35 days
12731 Warbler Street 4 3 2,939 $519,000 $176 35 days
506 General Gibson Drive 3 2.5 2,556 $300,000 $117 36 days
1061 Sea Cliff North Unit 1061 1 1 538 $139,900 $260 42 days
726 Oak Bluff Drive 3 2 2,366 $769,900 $325 42 days
10155 Rosewood Lane 4 5 5,701 $1,650,000 $289 51 days
8838 N Lamhatty Lane 5 4 3,974 $625,000 $157 69 days
310 Cumberland Road 5 3.5 4,593 $1,100,000 $239 59 days
9913 Dunleith Loop 4 2 2,695 $439,900 $163 66 days
652 Calibre Street 4 3.5 2,785 $437,122 $156 70 days
303 Gaston Avenue 4 3.5 3,056 $1,299,000 $425 77 days
31781 Memphis Loop 4 2 2,040 $329,999 $161 29 days
4 Cora Slocomb Drive 3 2 2,800 $399,900 $142 92 days
9508 Collier Loop 3 2 1,718 $299,000 $174 118 days
23807 Unbridled Loop 4 2 1,787 $304,839 $170 129 days
114 Chatam Loop 3 2 2,107 $254,900 $120 151 days
26664 Buffalo Ct 4 3 2,304 $387,085 $168 154 days
102 Mulberry Lane 4 3 1,886 $745,000 $395 163 days
718 S Mobile Avenue 3 2 1,182 $1,395,000 $1,180 246 days
24192 Tullamore Drive 3 2.5 2,445 $385,000 $157 150 days
25806 Pollard Road Unit 22 3 2.5 1,516 $216,000 $142 138 days
6385 D'olive Court 3 2.5 2,140 $450,000 $210 143 days
Average: 3.4 2.6 2,441 $566,010 $248 67 days
Viewing 1 - 35 of 35
Viewing 1 - 35 of 35
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
31213 Spoonbill Road 4 3.5 2,386 $425,000 $425,000 $178 0 days 6/8/23
26611 Augustine Drive 3 2 1,655 $297,900 $295,000 $178 5 days 6/8/23
10097 Grove Dr 4 4.5 3,337 $599,000 $570,000 $170 7 days 6/8/23
147 Bay View Drive 3 2.5 2,152 $290,000 $280,000 $130 0 days 6/7/23
28109 Bay Branch Drive 4 3 2,445 $375,000 $375,000 $153 4 days 6/7/23
31516 Spoonbill Road 5 3 2,483 $479,900 $470,000 $189 0 days 6/7/23
201 Heather Lane 4 2 2,454 $335,000 $335,000 $136 12 days 6/7/23
821 Summer Lake Street 5 3 3,099 $525,000 $515,000 $166 7 days 6/7/23
27104 Augustine Drive Unit 129 4 3 2,486 $400,900 $400,900 $161 0 days 6/7/23
428 Clubhouse Drive 3 3 3,014 $879,000 $879,000 $291 51 days 6/7/23
10765 Secretariat Blvd 4 3 2,614 $499,950 $499,950 $191 82 days 6/7/23
10867 Secretariat Blvd 4 3 2,592 $539,950 $539,950 $208 272 days 6/7/23
E County Road 54 N/A N/A N/A $350,000 $365,000 Unknown 176 days 6/6/23
116 Glen Hardie Drive 4 3.5 3,266 $904,615 $904,615 $276 0 days 6/6/23
413 Azalea Street 4 3.5 2,705 $795,000 $800,000 $295 0 days 6/6/23
406 Ellington Ave 3 2 1,594 $259,500 $259,500 $162 1 day 6/6/23
11678 Jericho Drive 4 3 2,625 $459,900 $445,000 $169 9 days 6/6/23
122 Golf Terrace Unit 122 1 1 600 $164,900 $150,000 $250 10 days 6/6/23
7891 Freshwater Drive 4 3.5 3,158 $559,900 $555,000 $175 25 days 6/6/23
4 Cavalry Circle 4 2.5 2,650 $394,000 $390,000 $147 9 days 6/6/23
31477 Lyon Road 3 2 1,641 $293,840 $296,440 $180 69 days 6/6/23
153 Old Mill Road 4 3 3,073 $649,000 $630,000 $205 185 days 6/6/23
7068 Trout Brook Avenue 4 3.5 4,504 $1,110,000 $1,110,000 $246 0 days 6/5/23
10450 County Road 32 4 4.5 3,401 $750,000 $750,000 $220 0 days 6/5/23
375 Lambton Street 5 4 3,319 $710,000 $715,000 $215 7 days 6/5/23
142 Pliska Street 4 3 2,739 $620,000 $600,000 $219 2 days 6/5/23
24815 Spectacular Bid Loop 5 3 2,441 $399,900 $387,500 $158 42 days 6/5/23
23813 Dublin Drive 5 3 3,002 $475,000 $475,000 $158 28 days 6/5/23
548 Crackwillow Ave 4 2 2,331 $395,000 $395,000 $169 0 days 6/2/23
8779 Drifton Ct 4 3 2,500 $450,000 $450,000 $180 3 days 6/2/23
113 Wilson Dr 3 2 1,480 $285,000 $282,300 $190 3 days 6/2/23
13605 Cannes Court 4 2 1,787 $302,880 $302,880 $169 12 days 6/2/23
221 North Circle 5 4.5 5,404 $950,000 $950,000 $175 10 days 6/2/23
23657 Blythewood Lane 3 2 1,750 $299,900 $299,900 $171 6 days 6/2/23
40 Gallery Blvd Unit Lot 40;Phase 2 N/A N/A N/A $265,000 $265,000 Unknown 991 days 6/2/23
11996 Balsam Court 3 2 1,587 $315,000 $305,000 $192 100 days 6/2/23
21121 Yosemite Blvd 4 3.5 2,785 $431,072 $429,847 $154 214 days 6/2/23
6 Jason Malbis Blvd Unit 6 N/A N/A N/A $82,000 $82,000 Unknown 0 days 6/1/23
238 Silo Loop 3 2 2,130 $339,900 $339,900 $159 8 days 6/1/23
4 Azalea Court 2 2 1,278 $429,900 $429,900 $336 1 day 6/1/23
9409 Montpelier Place 4 3 2,269 $399,999 $399,999 $176 30 days 6/1/23
13 N Grand Blvd 3 2 1,610 $325,000 $325,000 $201 4 days 6/1/23
851 Sea Cliff Drive 4 4 4,340 $2,150,000 $2,150,000 $495 18 days 6/1/23
8146 Irwin Loop 4 2 2,129 $325,000 $325,000 $152 11 days 6/1/23
27965 Paynes Gray Ln 5 3 3,338 $724,900 $700,000 $209 3 days 6/1/23
61 Mershon Street 4 3.5 3,074 $1,198,000 $1,205,000 $391 4 days 6/1/23
293 Chet Avenue 4 4 3,132 $867,500 $849,000 $271 50 days 6/1/23
4 Yacht Club Drive Unit 184 2 2 1,010 $219,900 $219,900 $217 174 days 6/1/23
27137 Augustine Drive 4 3 2,304 $387,900 $385,125 $167 28 days 6/1/23
47 Ramey Lane Unit 47 3 3.5 2,521 $1,070,000 $1,030,000 $408 0 days 5/31/23
Average: 3.6 2.6 2,312 $435,274 $425,526 $193 54 days
Viewing 1 - 50 of 1184
Viewing 1 - 50 of 1184

© 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 .