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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
2085 Sea Cliff North Unit 2085 1 1 538 $99,000 $184.01 0 days
526 Parkwood Ave 3 2 3,000 $359,900 $119.97 0 days
32118 Bunting Court 10 6 4,800 $799,900 $166.65 3 days
1314 Randall Avenue N/A N/A N/A $195,000 Unknown 2 days
Victorian Drive N/A N/A N/A $59,950 Unknown 2 days
Victorian Drive N/A N/A N/A $49,950 Unknown 2 days
Victorian Drive N/A N/A N/A $39,950 Unknown 2 days
302 Marcella Av 3 2 2,016 $244,900 $121.48 2 days
25976 Argonne Drive 3 2 1,480 $252,000 $170.27 2 days
18269 Colony Drive Unit 602 2 2 1,636 $545,000 $333.13 2 days
25806 Pollard Road Unit 116 2 2 1,063 $164,900 $155.13 2 days
8123 Irwin Loop 4 2 1,828 $335,000 $183.26 3 days
Soldier Court N/A N/A N/A $79,000 Unknown 3 days
10773 County Road 32 4 3 2,890 $689,900 $238.72 3 days
26097 Montelucia Way 5 3 3,139 $459,900 $146.51 4 days
11251-18 Highway 104 N/A N/A N/A $155,000 Unknown 5 days
10367 Ruffian Route Unit 441 4 2 2,031 $286,460 $141.04 5 days
24584 Alamitos Trace Dr Unit 2 3 2 1,640 $268,380 $163.65 5 days
51 Ramey Lane 3 3 2,521 $969,900 $384.73 6 days
47 Ramey Lane 3 3 2,521 $934,900 $370.84 6 days
43 Ramey Lane 3 3 2,521 $924,900 $366.88 6 days
12349 County Road 1 N/A N/A N/A $165,000 Unknown 7 days
Acorn Knoll Drive N/A N/A N/A $80,000 Unknown 8 days
Acorn Knoll Drive N/A N/A N/A $85,000 Unknown 8 days
512 Grand Avenue 3 1 1,013 $309,900 $305.92 6 days
Lot 67 Sand Bar Lane N/A N/A N/A $179,000 Unknown 6 days
9345 Amethyst Drive 4 3 2,304 $361,122 $156.74 7 days
24537 Alamitos Trace Dr 4 2 1,787 $282,400 $158.03 7 days
106 Victor Cir N/A N/A N/A $9,900 Unknown 7 days
24390 N River Road 3 2 5,783 $1,975,000 $341.52 14 days
32234 Calder Court 5 3 2,442 $318,070 $130.25 8 days
107 High Pines Ridge 5 4 3,512 $725,000 $206.44 8 days
9365 Amethyst Drive 4 3 2,486 $376,350 $151.39 8 days
837 Onyx Lane 5 3 2,740 $515,000 $187.96 9 days
25613 Ravenwood Circle 5 4 3,534 $515,000 $145.73 8 days
116 Oak Bend Court 3 2 2,440 $458,900 $188.07 8 days
684 Whittington Ave 4 2 1,961 $365,000 $186.13 9 days
24630 Alamitos Trace Dr Unit 8 Ryder 4 2 1,787 $282,476 $158.07 9 days
24654 Alamitos Trace Dr Unit 12 Aria 3 2 1,641 $268,284 $163.49 9 days
24636 Alamitos Trace Dr Unit 9 Cali 4 2 1,787 $275,364 $154.09 9 days
Gale Rowe Lane N/A N/A N/A $46,000 Unknown 9 days
313 Blackfriars Street 3 2 2,031 $349,900 $172.28 9 days
109 Charlotte Court 3 2 1,807 $262,500 $145.27 9 days
23351 Shadowridge Dr 3 2 1,641 $279,864 $170.54 9 days
23222 Shadowridge Dr 3 2 1,641 $272,332 $165.95 9 days
23204 Shadowridge Dr 3 2 1,641 $272,332 $165.95 9 days
23168 Shadowridge Dr 3 2 1,641 $271,900 $165.69 9 days
23156 Shadowridge Dr 3 2 1,641 $272,364 $165.97 9 days
29960 St Helen Street 3 2 1,511 $269,000 $178.03 9 days
100 Tower Drive Unit 401 3 2 1,708 $271,000 $158.67 11 days
Average: 3.7 2.6 2,470 $345,338 $259 251 days
Viewing 1 - 50 of 585
Viewing 1 - 50 of 585
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
207 S Mobile Street Unit 113 2 1 889 $230,000 $258.72 27 days
9353 Amethyst Drive 4 3 2,785 $392,400 $140.90 181 days
30780 Parapet Court 4 3 3,509 $649,900 $185.21 87 days
23822 Kilkenny Lane 4 3 2,498 $375,000 $150.12 44 days
104 Kensington Court 3 2 1,856 $349,000 $188.04 39 days
7170 Butterfly Circle 4 2 2,685 $485,000 $180.63 49 days
100 Wedgewood Circle 4 3 3,042 $550,000 $180.80 35 days
17412 Abingdon Lane 4 2 2,083 $325,000 $156.02 47 days
30429 Pinyon Drive 4 2 2,150 $300,000 $139.53 70 days
11737 Jericho Drive 3 2 2,136 $300,000 $140.45 5 days
1036 Sea Cliff North Unit 1036 1 1 447 $69,900 $156.38 31 days
116 Spring Drive 3 2 1,860 $385,000 $206.99 35 days
27518 Elise Court 3 2 2,027 $290,000 $143.07 38 days
31191 Montalto Court 4 3 2,796 $429,900 $153.76 42 days
25806 Pollard Road 3 2 1,526 $180,000 $117.96 33 days
399 Nandina Loop 4 3 2,891 $499,500 $172.78 39 days
10300 Eleanor Court 3 2 1,723 $259,900 $150.84 28 days
7166 Blakeley Road 4 2 2,051 $395,000 $192.59 36 days
10580 Bridges Drive 4 3 3,294 $490,000 $148.76 32 days
12503 County Road 1 3 2 1,815 $750,000 $413.22 22 days
27199 Bay Branch Drive 4 2 2,367 $339,900 $143.60 7 days
120 Cypress Lane 3 2 1,560 $248,900 $159.55 35 days
Lot 18 Arrowhead Ln N/A N/A N/A $209,000 Unknown 14 days
638 Southern Way 3 2 2,157 $345,000 $159.94 33 days
22164 Sutherland Cir 4 3 2,785 $412,272 $148.03 113 days
25806 Pollard Road 3 2 1,551 $194,900 $125.66 22 days
538 Salem St 3 2 2,070 $359,000 $173.43 70 days
20637 Blueberry Lane Unit 24 3 2 1,214 $185,000 $152.39 40 days
10172 Dunleith Loop 5 3 3,113 $425,000 $136.52 63 days
Friendship Road N/A N/A N/A $125,000 Unknown 30 days
9353 Amethyst Drive 4 3 2,785 $386,500 $138.78 114 days
23444 Shadowridge Dr Unit 158 4 2 1,787 $275,157 $153.98 56 days
32102 Calder Court 5 3 2,511 $324,900 $129.39 113 days
373 Surtees Street 4 3 3,147 $585,000 $185.89 55 days
136 Broadmoor Drive 3 2 1,833 $265,000 $144.57 37 days
22146 Sutherland Cir Unit Lot 215 4 3 2,586 $387,256 $149.75 114 days
500 Grant St Unit B 208 2 1 873 $110,000 $126 24 days
Capra Court N/A N/A N/A $65,000 Unknown 70 days
24139 Affirmed Avenue Unit 494 5 3 3,114 $402,815 $129.36 93 days
Capra Court N/A N/A N/A $65,000 Unknown 70 days
24090 Affirmed Avenue Unit 513 4 3 2,486 $398,600 $160.34 48 days
24050 Affirmed Avenue Unit 509 4 3 2,486 $371,176 $149.31 37 days
10777 Northern Dancer Ct Unit 405 Ryder 4 2 1,787 $283,476 $158.63 90 days
Capra Court N/A N/A N/A $65,000 Unknown 70 days
10671 Northern Dancer Ct Unit 417 Ryder 4 2 1,787 $283,460 $158.62 35 days
10377 Zenyatta Loop Unit 480 Cali 4 2 1,787 $275,364 $154.09 36 days
31066 Semper Dr 4 3 2,486 $382,788 $153.98 101 days
11349 Warrie Creek Alley 3 2 1,922 $282,000 $146.72 21 days
112 Laurel Place 3 2 2,088 $369,900 $177.16 41 days
11611 Whitaker Avenue 4 2 2,314 $382,000 $165.08 45 days
Average: 3.8 2.5 2,348 $401,044 $176 149 days
Viewing 1 - 50 of 562
Viewing 1 - 50 of 562
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
30166 Wayside 3 1 1,107 $150,000 $115,000 $103.88 29 days 1/27/22
4 Yacht Club Drive Unit 16 3 3 1,680 $319,900 $300,000 $178.57 181 days 1/27/22
6403 Captains Lane 4 3 4,108 $1,400,000 $1,225,000 $298.20 278 days 1/27/22
20329 Lawrence Rd 3 2 1,671 $317,500 $317,500 $190.01 42 days 1/26/22
29091 Acorn Knoll Drive 5 3 3,454 $599,900 $599,900 $173.68 79 days 1/26/22
12891 Kaieteur Falls Ave 5 3 3,113 $420,909 $445,800 $143.21 120 days 1/26/22
24595 Loring Circle 4 3 2,788 $407,042 $407,042 $146 0 days 1/25/22
24843 W Bridges Drive 4 2 2,202 $345,000 $345,000 $156.68 12 days 1/25/22
107 Nicole Place 3 2 1,600 $235,000 $252,000 $157.50 32 days 1/25/22
19315 S Greeno Road N/A N/A N/A $250,000 $265,500 Unknown 41 days 1/25/22
Chet Avenue N/A N/A N/A $100,000 $90,000 Unknown 40 days 1/25/22
103 Tibidow Circle 3 2 1,539 $200,000 $206,000 $133.85 48 days 1/25/22
359 Craftsman Avenue 4 3 2,522 $469,000 $458,000 $181.60 69 days 1/25/22
654 Bon Secour Avenue 3 1 1,040 $210,000 $175,000 $168.27 83 days 1/25/22
32226 Calder Court 5 3 2,511 $324,248 $324,248 $129.13 96 days 1/25/22
15698 Danne Road 4 3 3,000 $425,000 $400,000 $133.33 108 days 1/25/22
Third Street N/A N/A N/A $255,000 $255,000 Unknown 133 days 1/25/22
23201 Shadowridge Dr 4 2 1,787 $281,400 $281,400 $157.47 140 days 1/25/22
24588 Thunder Gulch Lane 4 3 2,687 $491,782 $491,782 $183.02 211 days 1/25/22
101 Sage Lane 4 2 2,337 $329,000 $329,000 $140.78 84 days 1/24/22
124 Broadmoor Drive 3 2 2,700 $269,000 $269,000 $99.63 93 days 1/24/22
7698 O'hara Drive 2 1 1,500 $1,000,000 $930,000 $620 122 days 1/24/22
32102 Calder Court 5 3 2,511 $320,004 $320,004 $127.44 136 days 1/24/22
23432 Shadowridge Dr 4 2 1,787 $270,157 $270,157 $151.18 136 days 1/24/22
113 Pineridge Rd 4 3 2,110 $375,000 $370,000 $175.36 66 days 1/24/22
438 Colony Drive 3 3 3,670 $1,016,405 $1,016,405 $276.95 168 days 1/24/22
2306 Watts Ln 3 1 1,729 $82,000 $55,000 $31.81 38 days 1/22/22
129 Richmond Road 3 2 1,334 $205,000 $203,000 $152.17 15 days 1/21/22
110 Kentwood Drive 4 2 2,021 $280,000 $269,000 $133.10 35 days 1/21/22
11309 Belize River Street 4 2 2,008 $369,900 $362,000 $180.28 44 days 1/21/22
109 Windsor Court 3 2 1,771 $269,000 $269,900 $152.40 50 days 1/21/22
12770 Leonard Robinson Lane 3 2 1,512 $209,900 $199,900 $132.21 59 days 1/21/22
565 Crackwillow Ave 3 2 1,372 $244,280 $244,280 $178.05 72 days 1/21/22
9860 Suburban Drive 4 3 2,461 $379,900 $355,000 $144.25 86 days 1/21/22
31608 Shadwell Drive 5 3 2,409 $364,900 $364,900 $151.47 92 days 1/21/22
10081 Rosewood Lane 4 3 3,818 $640,000 $613,500 $160.69 109 days 1/21/22
12147 County Road 1 4 4 2,240 $899,000 $885,000 $395.09 135 days 1/21/22
12728 Sophie Falls Ave 4 3 2,486 $390,000 $390,000 $156.88 143 days 1/21/22
228 Cuban Lily Drive 4 3 2,709 $949,500 $928,500 $342.75 177 days 1/21/22
302 Hemlock Drive Unit Lot #71 4 3 2,651 $481,376 $481,376 $181.58 357 days 1/21/22
11139 Sturbridge Loop 4 2 1,791 $269,900 $279,000 $155.78 38 days 1/20/22
246 Hemlock Drive Unit Lot 83 5 3 3,132 $503,825 $503,825 $160.86 44 days 1/20/22
555 Fairland Ave 3 2 2,200 $625,000 $618,000 $280.91 50 days 1/20/22
1 Troyer Ct 3 2 1,637 $315,000 $313,500 $191.51 58 days 1/20/22
24249 Affirmed Avenue Unit 328 5 3 3,113 $401,875 $396,650 $127.42 152 days 1/20/22
12347 County Road 1 N/A N/A N/A $443,900 $425,000 Unknown 280 days 1/20/22
11390 Deborah Steele Ln 3 2 1,353 $439,000 $419,675 $310.18 306 days 1/20/22
19782 Gunnison Road 3 2 2,051 $430,000 $420,000 $204.78 23 days 1/19/22
4 Yacht Club Drive 3 3 1,680 $289,500 $289,500 $172.32 35 days 1/19/22
4 Yacht Club Drive Unit 152 2 2 1,035 $179,900 $169,000 $163.29 35 days 1/19/22
Average: 3.6 2.4 2,293 $382,230 $375,590 $171 99 days
Viewing 1 - 50 of 1605
Viewing 1 - 50 of 1605

© 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 .