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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
8790 Asphodel Lane 3 2 1,988 $428,000 $215 0 days
20294 Bunker Loop 3 2.5 1,926 $435,000 $225 0 days
10036 Bayou Circle N/A N/A N/A $65,000 Unknown 0 days
205 Golf Terrace Unit C205 2 2 900 $212,000 $235 0 days
113 Pineridge Road 4 3 2,146 $415,000 $193 0 days
31789 Canopy Loop 3 2 1,771 $399,900 $225 0 days
607 Maxwell Avenue 4 3 2,915 $810,000 $277 0 days
12883 Warbler Street 5 3.5 3,058 $540,000 $176 0 days
704 Lea Avenue 3 2 2,051 $499,900 $243 0 days
25806 Pollard Road Unit 48 3 2.5 1,516 $227,000 $149 0 days
21460 Yosemite Boulevard 4 2 1,607 $284,990 $177 0 days
115 North Avenue 3 3 1,932 $960,000 $496 0 days
104 Lake Cove Circle 4 3 2,564 $399,900 $155 0 days
15 Elderberry Drive N/A N/A N/A $35,000 Unknown 0 days
21444 Yosemite Boulevard 4 2 1,886 $306,990 $162 0 days
4 Molokai Lane 5 6 4,700 $2,750,000 $585 1 day
623 Dryer Avenue 3 3 2,436 $746,000 $306 1 day
15715 Laurelbrooke Loop 3 2 1,624 $323,308 $199 2 days
15720 Laurelbrooke Loop Unit 7 4 2 2,031 $353,308 $173 2 days
15712 Laurelbrooke Loop Unit Lot 6 4 2 1,791 $336,808 $188 2 days
15754 Laurelbrooke Loop Unit Lot 9 4 2 1,791 $335,308 $187 2 days
20179 Thompson Hall Road 4 2.5 2,700 $429,900 $159 2 days
206 Ridgewood Drive 3 2.5 2,478 $309,000 $124 2 days
604 Johnson Avenue 2 2.5 2,783 $1,160,000 $416 2 days
32004 Badger Court 5 3.5 3,583 $749,900 $209 2 days
11575 County Road 48 4 2 2,321 $748,500 $322 2 days
11517 County Road 48 3 1 1,350 $437,500 $324 2 days
166 Willow Lake Drive 4 4 3,509 $910,000 $259 2 days
10539 Orkney Way 3 2 1,487 $265,000 $178 2 days
13212 Ibis Boulevard 4 3 2,785 $559,900 $201 3 days
11628 Sedona Drive 4 3 2,340 $394,900 $168 3 days
16561 Scenic Highway 98 N/A N/A N/A $1,200,000 Unknown 3 days
1112 Caroline Avenue 3 2 1,539 $325,000 $211 3 days
257 Morphy Avenue 4 3.5 3,315 $1,150,000 $346 3 days
519 Equality Avenue 4 3.5 2,607 $1,300,000 $498 3 days
10146 Landsdown Drive 4 2.5 2,149 $415,000 $193 3 days
126 Braga Drive 3 2 1,971 $299,900 $152 3 days
416 Volanta Avenue 3 2 1,313 $439,900 $335 3 days
State Highway 181 N/A N/A N/A $165,000 Unknown 3 days
7 Quail Loop 3 2.5 3,277 $689,500 $210 3 days
Wharf Street N/A N/A N/A $230,000 Unknown 3 days
10123 Papas Street 3 2 1,647 $349,900 $212 3 days
30221 Green Court 4 2.5 2,402 $449,900 $187 3 days
21 Lee Circle 3 2 1,655 $299,900 $181 3 days
30750 Pine Court 4 2.5 3,035 $494,000 $162 3 days
9328 Greenleaf Drive N/A N/A N/A $49,900 Unknown 3 days
508 Volanta Avenue N/A N/A N/A $230,000 Unknown 3 days
8251 Edgewood Drive 3 2 1,664 $309,000 $185 3 days
31681 Canopy Loop 3 2 2,002 $449,900 $224 4 days
9228 Ottawa Drive 3 2 2,148 $389,900 $181 4 days
Average: 3.6 2.7 2,346 $511,440 $251 130 days
Viewing 1 - 50 of 873
Viewing 1 - 50 of 873
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
8453 Rosedown Lane 4 2 1,948 $364,900 $187 0 days
977 Charleston Loop 3 2 1,870 $441,500 $236 1 day
20582 Rachel Myers Lane N/A N/A N/A $87,750 Unknown 2 days
104 Cliff Drive 3 2 1,454 $674,900 $464 1 day
217 S Mobile Street 3 2 2,585 $699,900 $270 3 days
841 Summer Lake Street 3 3 2,895 $699,900 $241 4 days
107 Reilly Circle 3 2 1,552 $332,500 $214 2 days
359 S Mobile Street Unit A 2 2.5 1,356 $499,000 $367 3 days
N 2nd Street N/A N/A N/A $7,700 Unknown 2 days
18930 Twin Beech Road 3 2 1,620 $599,000 $369 7 days
9020 Morphy Avenue 2 2 1,400 $299,000 $213 2 days
13810 Antler Hill Road 4 2 1,954 $348,400 $178 0 days
11405 Elemis Drive 4 2 1,787 $325,400 $182 10 days
2088 N Seacliff Drive Unit 2B-2088 1 1 538 $135,000 $250 10 days
159 Fairwood Boulevard 3 2 2,123 $725,000 $341 5 days
53 General Canby Drive 4 2 2,431 $409,000 $168 3 days
156 Brentwood Drive 3 2 1,707 $249,000 $145 11 days
23816 Dominus Drive 3 2 1,760 $342,500 $194 12 days
23744 Dominus Drive 3 2 1,760 $347,200 $197 12 days
23966 Shadowridge Drive 4 3 2,675 $453,700 $169 12 days
23766 Avernus Loop 3 2 1,641 $302,750 $184 12 days
9430 Timbercreek Boulevard 5 3.5 4,200 $619,000 $147 12 days
10074 Brodick Loop 4 2 2,047 $314,900 $153 4 days
11607 Genuine Risk Circle Unit 780 4 3.5 2,785 $461,695 $165 13 days
505 Golden Leaf Avenue 4 3 2,657 $439,990 $165 13 days
338 Garrison Boulevard 4 3 2,806 $649,900 $231 13 days
74 Paddock Drive 2 2 1,844 $569,000 $308 12 days
10452 Dunmore Drive 4 2 1,990 $365,000 $183 6 days
13073 Grand Rapids Road 4 2 1,948 $357,400 $183 12 days
108 Palisade Circle 3 2.5 1,801 $293,000 $162 9 days
12976 Shoshoney Circle 4 3.5 2,874 $465,936 $162 13 days
13061 Grand Rapids Road 4 2 1,884 $353,760 $187 9 days
12952 Shoshoney Circle 4 3.5 2,785 $456,445 $163 1 day
30571 Pine Court 4 3.5 3,226 $519,000 $160 4 days
21482 Roundhouse Road 3 2 2,346 $365,000 $155 11 days
24277 Alydar Loop 5 3 2,197 $349,000 $158 16 days
13754 Antler Hill Road 4 2 2,018 $356,965 $176 9 days
122 Eagle Drive 3 2 1,877 $259,900 $138 5 days
100 Hazel Lane 3 2 2,037 $420,000 $206 6 days
Ceiba Grande Street N/A N/A N/A $35,000 Unknown 8 days
11075 Elemis Drive 4 2 1,787 $316,840 $177 18 days
640 Hermitage Court 5 3.5 3,399 $1,399,000 $411 18 days
12671 Clay City Road 5 2.5 1,728 $647,700 $374 1 day
11501 Evensong Drive 4 2 2,250 $383,549 $170 19 days
US Highway 98 N/A N/A N/A $55,000 Unknown 6 days
US Highway 98 N/A N/A N/A $55,000 Unknown 6 days
56 Fairwood Boulevard 4 3.5 3,093 $875,000 $282 19 days
11540 Brenda Road 3 2.5 2,546 $495,000 $194 20 days
26612 Montelucia Way 5 3 2,529 $450,000 $177 19 days
23818 Avernus Loop 4 2 1,787 $312,340 $174 19 days
Average: 3.7 2.6 2,274 $455,565 $211 82 days
Viewing 1 - 50 of 367
Viewing 1 - 50 of 367
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
20765 Lowry Drive 3 2 1,800 $365,000 $345,000 $191 7 days 3/18/24
15817 Keeney Drive 3 2.5 2,037 $695,000 $678,000 $332 3 days 3/18/24
11584 Champion Road 4 3 2,350 $459,900 $459,900 $195 20 days 3/18/24
13698 Antler Hill Road 4 2 2,018 $353,640 $353,640 $175 0 days 3/18/24
11290 Elemis Drive 4 2 1,787 $312,340 $312,340 $174 0 days 3/18/24
4 Viale Trentino 3 2.5 3,117 $645,000 $630,000 $202 211 days 3/18/24
41 Gallery Boulevard N/A N/A N/A $385,000 $385,000 Unknown 1268 days 3/18/24
6618 Spaniel Drive Unit B 3 2.5 1,703 $240,000 $240,000 $140 0 days 3/15/24
Calyx Circle N/A N/A N/A $285,000 $280,000 Unknown 10 days 3/15/24
0000 Glover Road N/A N/A N/A $290,000 $290,000 Unknown 5 days 3/15/24
251 Rolling Hill Drive 5 2.5 2,460 $330,000 $325,000 $132 23 days 3/15/24
24999 Fairfax Drive 3 2 2,490 $359,000 $359,000 $144 3 days 3/15/24
9703 Callaway Drive 3 2 1,748 $379,000 $371,000 $212 48 days 3/15/24
13632 Antler Hill Road 4 2 1,884 $360,460 $360,460 $191 37 days 3/15/24
8115 Soldier Court 4 3 2,838 $515,000 $480,000 $169 40 days 3/15/24
27621 Rhone Drive 4 3.5 2,687 $629,900 $605,000 $225 23 days 3/15/24
Wildflower Trail N/A N/A N/A $199,000 $185,000 Unknown 68 days 3/15/24
Mary Ann Beach Road N/A N/A N/A $64,900 $60,000 Unknown 91 days 3/15/24
371 Ridgewood Drive 3 2 2,116 $299,500 $299,500 $141 132 days 3/15/24
24828 Planters Drive 4 3 2,785 $549,900 $549,900 $197 113 days 3/15/24
142 Fairway Drive 3 2 1,740 $249,000 $247,000 $141 142 days 3/15/24
20676 Langford Road 4 3 2,457 $550,000 $532,500 $216 112 days 3/15/24
11590 Genuine Risk Circle 5 3.5 2,874 $465,870 $465,870 $162 218 days 3/15/24
111 Beechwood Circle 3 2.5 1,846 $170,000 $165,000 $89 133 days 3/15/24
709 Amador Avenue 4 2 2,137 $369,000 $365,000 $170 0 days 3/14/24
195 Ornate Avenue 4 2 2,142 $430,542 $415,000 $193 23 days 3/14/24
4 Yacht Club Drive Unit Unit 54 3 2.5 1,635 $239,000 $240,600 $147 2 days 3/14/24
19662 Bunker Loop 4 2 2,314 $469,900 $465,000 $200 162 days 3/14/24
126 Club Drive 3 2 1,715 $315,000 $303,500 $176 53 days 3/13/24
6981 US Highway 98 3 2 1,762 $699,500 $695,000 $394 99 days 3/13/24
20637 Blueberry Lane Unit 31 3 2 1,288 $254,900 $250,000 $194 45 days 3/13/24
11067 Elemis Drive 4 2 1,787 $312,840 $312,840 $175 17 days 3/13/24
Burwick Loop N/A N/A N/A $105,000 $102,500 Unknown 0 days 3/12/24
27788 Rileywood Drive 4 2 2,132 $329,000 $324,500 $152 3 days 3/12/24
24929 Steadfast Court 4 2.5 2,402 $299,900 $335,000 $139 5 days 3/12/24
Signal Hill Road N/A N/A N/A $79,000 $63,000 Unknown 68 days 3/12/24
Burwick Loop N/A N/A N/A $105,000 $98,000 Unknown 217 days 3/12/24
32581 Buzbee Road 3 2 2,144 $365,000 $350,000 $163 233 days 3/12/24
Longleaf Circle N/A N/A N/A $69,000 $53,000 Unknown 346 days 3/12/24
437 Leavie Lane 3 3.5 3,000 $1,550,000 $1,525,000 $508 0 days 3/11/24
9281 Chasewood Place 3 2 1,539 $290,000 $279,000 $181 11 days 3/11/24
9640 Aspen Circle 3 2.5 2,583 $495,000 $495,000 $191 1 day 3/11/24
10638 Orkney Way 3 2 1,733 $299,000 $299,100 $172 25 days 3/11/24
9178 Diamante Boulevard 4 3 2,304 $394,900 $390,000 $169 14 days 3/11/24
11737 Elemis Drive 4 2 1,791 $315,840 $315,840 $176 2 days 3/11/24
33422 Jimmy Faulkner Drive N/A N/A N/A $337,500 $320,000 Unknown 10 days 3/11/24
10776 County Road 1 N/A N/A N/A $59,000 $55,000 Unknown 198 days 3/11/24
101 Petz Avenue 3 2.5 1,931 $374,999 $370,000 $191 36 days 3/8/24
11679 Elemis Drive 4 2 1,791 $316,840 $316,415 $176 0 days 3/8/24
104 Golf Terrace 2 2 900 $176,000 $160,000 $177 23 days 3/8/24
Average: 3.6 2.6 2,256 $432,274 $421,050 $200 90 days
Viewing 1 - 50 of 996
Viewing 1 - 50 of 996

© 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 .