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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
29378 W Oakstone Drive 4 3 3,248 $690,000 $212.44 0 days
Stillwood Ln N/A N/A N/A $138,000 Unknown 3 days
9379 Ottawa Drive 3 2 2,122 $289,000 $136.19 0 days
23147 Shadowridge Dr Unit 229 4 2 1,787 $282,008 $157.81 0 days
23114 Shadowridge Dr Unit 162 4 2 1,787 $276,900 $154.95 0 days
23450 Shadowridge Dr Unit 159 4 2 1,787 $275,157 $153.98 0 days
837 N Artillery Range 3 2 2,379 $345,000 $145.02 3 days
506 Lea Avenue 2 2 1,320 $300,000 $227.27 0 days
9631 Aspen Circle 4 3 2,719 $475,000 $174.70 0 days
11648 County Road 48 3 2 2,523 $899,000 $356.32 1 day
Lot 60 Dewpoint Lane N/A N/A N/A $59,950 Unknown 1 day
Lot 61 Dewpoint Lane N/A N/A N/A $59,950 Unknown 1 day
Lot 62 Dewpoint Lane N/A N/A N/A $59,950 Unknown 1 day
Lot 63 Dewpoint Lane N/A N/A N/A $59,950 Unknown 1 day
Lot 64 Dewpoint Lane N/A N/A N/A $59,950 Unknown 1 day
Lot 65 Dewpoint Lane N/A N/A N/A $59,950 Unknown 1 day
Lot 66 Dewpoint Lane N/A N/A N/A $59,950 Unknown 1 day
Lot 67 Dewpoint Lane N/A N/A N/A $59,950 Unknown 1 day
Lot 68 Dewpoint Lane N/A N/A N/A $59,950 Unknown 1 day
7260 Wild Oaks Rd 4 2 2,330 $679,900 $291.80 1 day
7183 N Lake Blvd 4 3 2,992 $324,900 $108.59 3 days
30951 Parapet Court 4 3 2,810 $559,900 $199.25 2 days
4 Yacht Club Drive Unit 11 2 2 1,440 $229,000 $159.03 2 days
18447 Greeno Road N/A N/A N/A $1,500,000 $111,111.11 3 days
24109 Affirmed Avenue Unit 497 5 3 3,114 $401,080 $128.80 2 days
Blakeley Way N/A N/A N/A $110,000 Unknown 3 days
102 Brookwood Circle 3 2 1,535 $219,900 $143.26 3 days
454 Bartlett Avenue 4 3 2,798 $545,000 $194.78 3 days
29320 Acorn Knoll Drive 3 3 3,093 $499,900 $161.62 3 days
816 Darrah St 5 3 2,777 $559,000 $201.30 3 days
31164 Shambo Road 3 2 1,609 $250,000 $155.38 4 days
10680 County Road 1 4 2 2,188 $449,000 $205.21 3 days
County Road 54 N/A N/A N/A $599,000 $44,044.12 3 days
215 Tensaw Avenue 3 3 1,550 $460,000 $296.77 3 days
603 Sandpiper Ln 4 2 2,556 $475,000 $185.84 4 days
Blakeley Oaks Drive N/A N/A N/A $59,000 Unknown 3 days
107 Sandcrest Cir N/A N/A N/A $17,000 Unknown 3 days
15130 Highway 181 4 2 1,792 $509,000 $284.04 4 days
19064 Fairfield Drive 4 2 2,411 $412,250 $170.99 4 days
12925 County Road 1 3 2 1,400 $625,000 $446.43 5 days
6981 Petiole Drive 4 3 3,325 $1,125,000 $338.35 6 days
32092 Calder Court 4 2 2,416 $313,510 $129.76 4 days
421 Volanta Avenue 3 2 1,600 $399,900 $249.94 5 days
32074 Calder Court 4 2 2,416 $313,830 $129.90 4 days
2541 Main Street 4 4 3,140 $635,000 $202.23 4 days
6768 Spaniel Drive Unit 3 3 2 1,551 $249,900 $161.12 5 days
122 Savannah Square N/A N/A N/A $67,500 Unknown 6 days
102 Nichols Avenue 5 5 2,914 $1,599,000 $548.73 5 days
18909 Bracy Ln 3 2 1,800 $79,900 $44.39 6 days
10971 Catania Avenue 4 3 2,912 $697,500 $239.53 6 days
Average: 3.7 2.6 2,535 $382,925 $233 235 days
Viewing 1 - 50 of 780
Viewing 1 - 50 of 780
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
23682 Devonfield Lane 3 2 1,833 $263,560 $143.79 52 days
23933 Avernus Loop Unit 287 4 2 1,787 $273,333 $152.96 54 days
8294 Irwin Loop 4 2 2,141 $329,900 $154.09 45 days
27035 Allenbrook Court 4 3 2,348 $389,000 $165.67 39 days
18420 Scenic Highway 98 N/A N/A N/A $75,000 Unknown 7 days
22068 Sutherland Cir 4 3 2,495 $370,600 $148.54 35 days
21152 Meadowbrook Drive 3 2 1,140 $225,000 $197.37 34 days
13061 Mary Ann Beach Road 3 2 1,809 $399,900 $221.06 33 days
308 N Belle Chase Court 3 2 1,184 $210,000 $177.36 29 days
10779 Brodick Loop 3 2 1,745 $257,075 $147.32 29 days
23644 Devonfield Lane 3 2 1,833 $266,210 $145.23 40 days
22110 Sutherland Cir 4 3 2,304 $361,978 $157.11 92 days
Petiole Drive N/A N/A N/A $170,000 Unknown 5 days
10699 Orkney Way 4 2 1,906 $261,705 $137.31 20 days
9887 Dunleith Loop 4 2 2,314 $319,745 $138.18 27 days
23755 Shadowridge Dr 5 3 3,265 $403,740 $123.66 15 days
10707 Orkney Way 3 2 1,710 $245,880 $143.79 17 days
23719 Shadowridge Dr 4 3 2,706 $375,360 $138.71 35 days
9552 Sanibel Loop 3 2 1,885 $309,900 $164.40 5 days
526 Grand Avenue N/A N/A N/A $165,000 Unknown 22 days
20190 Bunker Loop 4 2 2,223 $430,000 $193.43 67 days
170 Atrium Ave N/A N/A N/A $94,000 Unknown 81 days
104 Lake Cove Circle 4 3 2,595 $339,000 $130.64 33 days
Petiole Drive N/A N/A N/A $170,000 Unknown 31 days
33624 Boardwalk Drive 4 3 3,784 $649,000 $171.51 46 days
26332 Augustine Drive 3 2 1,671 $279,900 $167.50 32 days
557 Ridgewood Drive 3 2 1,973 $224,900 $113.99 31 days
101 Georgia Avenue 3 2 1,392 $175,900 $126.36 5 days
122 Woodside Drive 3 3 1,863 $205,000 $110.04 35 days
20141 Pecan Trace 3 2 1,722 $225,000 $130.66 24 days
15698 Danne Road 4 3 3,000 $425,000 $141.67 22 days
106 Sintabouge Circle 4 2 2,654 $264,900 $99.81 34 days
6927 Carson Lane 3 2 2,070 $375,000 $181.16 35 days
109 Hemphill Cir 3 2 1,630 $217,500 $133.44 34 days
127 Shiloh Drive 4 2 1,676 $249,000 $148.57 35 days
818 Artillery Range 4 2 2,759 $354,900 $128.63 27 days
107 Dewitt Circle 3 2 2,229 $260,000 $116.64 42 days
6 Redfern Road N/A N/A N/A $87,400 Unknown 63 days
9668 County Road 34 N/A N/A N/A $459,000 $27,000 113 days
32248 Calder Court 5 3 2,511 $324,428 $129.20 112 days
10399 Tampary Street 4 2 2,468 $465,000 $188.41 32 days
6671 N Winding Brook Drive 5 4 4,449 $450,000 $101.15 8 days
50 S Church Street Unit 15 3 3 1,766 $500,000 $283.13 23 days
7183 Rushing Water Court 4 3 3,878 $625,000 $161.17 33 days
205 Margaret Drive 3 2 1,852 $275,000 $148.49 56 days
25836 Ravenwood Circle 4 3 2,200 $330,000 $150 34 days
8608 Pine Run 5 3 2,900 $499,900 $172.38 24 days
10682 Brodick Loop 4 2 1,906 $257,895 $135.31 16 days
7543 Martin Lane 1 1 840 $189,900 $226.07 15 days
21714 Yosemite Blvd 4 2 2,101 $324,900 $154.64 27 days
Average: 3.8 2.5 2,392 $395,110 $524 125 days
Viewing 1 - 50 of 524
Viewing 1 - 50 of 524
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
107 Par Circle 3 2 2,241 $349,900 $355,000 $158.41 34 days 10/18/21
23963 Citation Loop Unit 357 Cali 4 2 1,791 $273,000 $273,000 $152.43 163 days 10/18/21
304 N Mobile Street N/A N/A N/A $275,000 $269,000 Unknown 18 days 10/15/21
23884 Havasu Drive 4 3 2,214 $299,999 $305,000 $137.76 29 days 10/15/21
10048 Dunleith Loop 4 3 2,495 $350,000 $352,500 $141.28 30 days 10/15/21
13416 County Road 1 1 1 780 $260,000 $260,000 $333.33 33 days 10/15/21
708 Boundary Drive 3 2 1,533 $497,000 $497,000 $324.20 33 days 10/15/21
170 Country Club Drive 4 3 2,700 $315,000 $314,000 $116.30 34 days 10/15/21
12469 Squirrel Drive 4 3 2,518 $399,900 $400,000 $158.86 49 days 10/15/21
29928 St. Barbara St. 3 2 1,625 $259,000 $259,000 $159.38 52 days 10/15/21
31535 Rhett Dr 4 3 3,658 $515,900 $469,900 $128.46 57 days 10/15/21
10621 Sassaman Court 5 3 2,700 $400,000 $405,000 $150 63 days 10/15/21
7683 Freshwater Drive 4 2 2,295 $309,900 $309,900 $135.03 66 days 10/15/21
560 Southern Run 3 2 1,767 $345,000 $360,100 $203.79 79 days 10/15/21
30343 Green Court 2 2 1,700 $339,000 $310,000 $182.35 87 days 10/15/21
169 Montclair Loop 3 2 1,800 $245,000 $240,000 $133.33 101 days 10/15/21
974 Charleston Loop 3 2 1,861 $366,029 $366,029 $196.68 235 days 10/15/21
County Road 1 N/A N/A N/A $95,000 $75,000 Unknown 710 days 10/15/21
County Road 1 N/A N/A N/A $105,000 $75,000 Unknown 710 days 10/15/21
Raegan Lane N/A N/A N/A $15,000 $12,000 Unknown 809 days 10/15/21
24044 Trowbridge Court 4 3 2,832 $479,000 $506,000 $178.67 21 days 10/14/21
107 Michael Lp 3 2 1,872 $250,000 $248,500 $132.75 21 days 10/14/21
18175 Scenic Highway 98 Unit 17 3 3 2,142 $600,000 $655,000 $305.79 28 days 10/14/21
27972 Bay Branch Drive 4 2 2,500 $299,900 $299,900 $119.96 34 days 10/14/21
31523 Shearwater Drive 3 2 1,706 $275,000 $270,000 $158.26 36 days 10/14/21
20637 Blueberry Lane Unit 38 3 2 1,248 $200,000 $200,000 $160.26 40 days 10/14/21
161 Windsor Drive 3 2 1,964 $235,000 $237,000 $120.67 47 days 10/14/21
152 Oakwood Avenue 3 2 1,575 $260,000 $255,000 $161.90 59 days 10/14/21
13041 Sanderling Loop 5 3 2,409 $369,900 $369,900 $153.55 78 days 10/14/21
23315 Shadowridge Dr 4 2 1,787 $274,689 $274,689 $153.72 92 days 10/14/21
10325 Solon Court 3 2 1,670 $264,500 $265,000 $158.68 29 days 10/13/21
County Road 1 N/A N/A N/A $39,000 $37,000 Unknown 30 days 10/13/21
7843 Barrington Ln 3 2 1,706 $255,000 $265,000 $155.33 34 days 10/13/21
107 Vermell Cir 3 2 1,700 $219,000 $216,000 $127.06 40 days 10/13/21
26422 Augustine Drive 3 2 1,588 $270,000 $270,000 $170.03 44 days 10/13/21
23903 Havasu Drive 3 2 2,208 $279,900 $289,000 $130.89 54 days 10/13/21
8785 Bainbridge Drive 4 2 1,804 $269,900 $274,000 $151.88 62 days 10/13/21
23390 Shadowridge Dr 3 2 1,641 $266,790 $270,000 $164.53 75 days 10/13/21
202 Pliska Street 4 3 4,012 $749,900 $719,925 $179.44 76 days 10/13/21
117 Augusta Court 4 4 4,407 $939,000 $900,000 $204.22 90 days 10/13/21
31693 Memphis Loop Unit Lot 31 4 2 1,835 $302,005 $302,005 $164.58 111 days 10/13/21
11385 County Road 1 2 1 960 $499,500 $465,000 $484.38 189 days 10/13/21
10675 Brodick Loop 4 2 1,906 $255,225 $255,225 $133.91 13 days 10/12/21
7684 Avery Lane 3 2 1,650 $219,000 $222,000 $134.55 27 days 10/12/21
12610 Boone Lane 3 3 1,892 $349,500 $356,000 $188.16 39 days 10/12/21
277 Westley St 3 2 1,740 $454,900 $474,900 $272.93 41 days 10/12/21
124 South Drive 4 3 3,722 $735,000 $726,000 $195.06 54 days 10/12/21
6081 Nelson Drive 3 3 3,373 $1,100,000 $1,215,000 $360.21 75 days 10/12/21
1 Greenbrier Lane 4 4 3,229 $899,000 $895,000 $277.18 93 days 10/12/21
9275 Wind Clan Trail 4 3 2,450 $374,900 $380,000 $155.10 113 days 10/12/21
Average: 3.6 2.4 2,328 $373,270 $369,096 $166 99 days
Viewing 1 - 50 of 1907
Viewing 1 - 50 of 1907

© 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 .