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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
939 Whittier Street 4 2 2,250 $385,000 $171 0 days
110 Woodside Drive 3 2.5 1,996 $320,000 $160 0 days
129 Rays Lane N/A N/A N/A $47,500 Unknown 0 days
Cary Lane N/A N/A N/A $109,900 Unknown 0 days
County Road 64 N/A N/A N/A $5,000,000 Unknown 0 days
4 Lee Circle 3 2 1,948 $285,000 $146 0 days
19201 Thompson Hall Road 4 2 1,940 $349,900 $180 0 days
25853 Tealwood Drive 4 3 2,526 $485,000 $192 0 days
16 Greenbrier Lane 5 3.5 3,308 $995,000 $300 0 days
24161 Alydar Loop 4 2 1,830 $315,000 $172 0 days
29242 Acorn Knoll Drive N/A N/A N/A $60,000 Unknown 0 days
Acorn Knoll Drive N/A N/A N/A $60,000 Unknown 0 days
24655 Slater Mill Road 4 2 2,018 $365,000 $180 0 days
628 Southern Way 6 3 3,339 $515,000 $154 1 day
24606 Alamitos Trace Drive 4 2 1,980 $309,900 $156 1 day
1065 N Sea Cliff Drive 1 1 538 $149,000 $276 1 day
S Section Street N/A N/A N/A $160,000 Unknown 1 day
101 Sintabouge Circle 3 2 2,659 $375,000 $141 1 day
30460 Pinyon Drive 4 2 2,203 $380,000 $172 1 day
14200 Scenic Highway 98 3 3 2,600 $585,000 $225 1 day
23168 Shadowridge Drive 3 2 1,641 $310,000 $188 1 day
323 Whiting Court 4 4.5 4,889 $3,700,000 $756 1 day
334 Saffron Avenue 4 3 2,621 $575,000 $219 1 day
756 Truxton Street 3 2 2,173 $387,900 $178 1 day
759 Morphy Avenue 3 2 1,619 $429,000 $264 1 day
11252 Lark Avenue 4 2 1,650 $329,900 $199 1 day
33781 Boardwalk Drive 5 3 3,299 $709,900 $215 1 day
13 Summer Oaks Drive 2 1.5 1,076 $179,900 $167 2 days
413 Azalea Street 4 3.5 2,887 $875,000 $303 2 days
12180 Stroh Road 2 1.5 728 $125,000 $171 2 days
521 Golden Leaf Avenue 3 2 2,267 $420,990 $185 2 days
21484 Yosemite Boulevard 4 2 1,776 $299,990 $168 2 days
504 Golden Leaf Avenue 4 3 2,267 $433,485 $191 2 days
353 Patlynn Drive 3 2 1,425 $299,900 $210 2 days
11648 County Road 48 4 2 2,249 $925,000 $411 3 days
233 Bay View Drive 3 2.5 1,684 $298,900 $177 3 days
Whispering Pines Road N/A N/A N/A $35,000 Unknown 3 days
554 Jan Drive 4 2 2,384 $528,900 $221 3 days
7387 Wilkins Creek Court 4 3 3,474 $649,000 $186 3 days
229 Divot Loop 3 2 1,736 $369,900 $213 3 days
315 Crane Place 4 3 3,209 $1,250,000 $389 3 days
349 Ridgewood Drive 4 2 1,992 $285,000 $143 3 days
8169 Pine Run 5 3.5 3,980 $765,000 $192 3 days
24248 Affirmed Avenue 5 3 2,409 $405,000 $168 3 days
31434 Shambo Road 3 2 1,620 $299,900 $185 4 days
1430 Wilson Avenue 4 2 1,930 $364,400 $188 4 days
2115 Pollard Road 4 2 2,320 $382,200 $164 4 days
1426 Wilson Avenue 4 3 2,300 $380,700 $165 4 days
25806 Pollard Road Unit 33 3 2.5 1,516 $225,000 $148 4 days
536 Overland Drive 4 2 1,954 $351,400 $179 4 days
Average: 3.6 2.7 2,376 $496,818 $324 140 days
Viewing 1 - 50 of 781
Viewing 1 - 50 of 781
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
204 Hudson Loop 4 2 1,954 $348,000 $178 1 day
11305 Elemis Drive 4 2 2,031 $327,732 $161 1 day
8555 Rosedown Lane 4 2 1,835 $341,800 $186 2 days
840 Geranium Drive 3 3 2,345 $769,090 $327 2 days
221 Cuban Lily Drive 3 3 2,000 $585,179 $292 2 days
136 STRATFORD Street 5 3 3,086 $499,900 $161 1 day
9805 Volterra Avenue 4 3.5 2,495 $455,000 $182 4 days
Elderberry Drive N/A N/A N/A $85,000 Unknown 3 days
437 Leavie Lane 3 3.5 3,000 $1,550,000 $516 0 days
29935 St Barbara Street 3 2 1,896 $375,000 $197 0 days
527 Hardwood Avenue 4 3 2,267 $399,990 $176 4 days
709 Amador Avenue 4 2 2,137 $369,000 $172 0 days
21890 Country Woods Drive 3 2 2,731 $529,000 $193 4 days
115 Schooley Circle 4 2.5 2,419 $365,000 $150 5 days
15817 Keeney Drive 3 2.5 2,037 $695,000 $341 3 days
27392 French Settlement Drive 4 3.5 2,618 $535,355 $204 8 days
11101 Elemis Drive 3 2 1,641 $312,848 $190 8 days
8538 Rosedown Lane 4 2 1,948 $357,025 $183 8 days
12047 Caney Creek Drive 3 2 1,575 $314,900 $199 9 days
204 Spur Avenue 4 3.5 2,785 $486,946 $174 3 days
11584 Champion Road 4 3 2,350 $459,900 $195 11 days
275 Bronze Street 5 4 3,152 $500,000 $158 13 days
23794 Avernus Loop 4 2 1,787 $310,820 $173 5 days
27788 Rileywood Drive 4 2 2,132 $329,000 $154 3 days
18085 Quail Run Unit 7B 2 3 1,812 $889,000 $490 11 days
21539 Yosemite Boulevard 4 2 1,936 $339,900 $175 11 days
514 Hardwood Avenue 5 4 3,152 $509,990 $161 14 days
548 Golden Leaf Avenue 4 3 2,267 $415,000 $183 14 days
207 S Mobile Street Unit 201 2 1 913 $314,800 $344 10 days
9640 Aspen Circle 3 2.5 2,583 $495,000 $191 1 day
11701 Elemis Drive 4 2 1,787 $316,840 $177 15 days
205 Spur Avenue 4 3 2,363 $452,681 $191 15 days
6450 Grass Road 2 1.5 1,138 $355,000 $311 14 days
24929 Steadfast Court 4 2.5 2,402 $299,900 $124 5 days
19871 County Road 13 3 2 2,046 $370,000 $180 0 days
8556 Rosedown Lane 4 2 1,954 $353,325 $180 107 days
283 Bronze Street 4 3 2,657 $474,990 $178 81 days
101 Vega Circle 3 2.5 1,824 $249,900 $137 64 days
30214 Green Court 2 2 1,474 $280,000 $189 21 days
218 Bay View Drive 3 2 1,456 $199,215 $136 8 days
279 Bronze Street 4 3 2,267 $399,990 $176 82 days
506 Hardwood Avenue 4 3 2,657 $449,000 $168 110 days
32264 Lexington Drive 3 2 1,281 $270,144 $210 17 days
32260 Lexington Drive 4 2 1,504 $281,144 $186 3 days
11369 Genuine Risk Circle 5 3.5 2,874 $474,995 $165 15 days
11191 Colvin Lane 2 1 896 $225,000 $251 17 days
8544 Rosedown Lane 4 2 1,835 $335,300 $182 52 days
114 Creekside Drive 3 2 1,320 $220,000 $166 69 days
17861 S Section Street Unit 6 4 4 4,331 $1,699,998 $392 49 days
10514 Ahern Drive 4 3 3,106 $525,000 $169 7 days
Average: 3.7 2.6 2,265 $441,989 $205 73 days
Viewing 1 - 50 of 353
Viewing 1 - 50 of 353
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
8 Summer Oaks Drive Unit 8 2 2.5 1,301 $199,900 $199,900 $153 6 days 2/23/24
523 Hardwood Avenue 4 4 3,152 $511,990 $475,000 $150 1 day 2/23/24
27037 Creekwood Drive 4 2.5 2,217 $375,000 $378,000 $170 2 days 2/23/24
Morphy Avenue N/A N/A N/A $115,000 $112,000 Unknown 8 days 2/23/24
509 Split Branch Avenue 4 3 2,267 $384,990 $384,990 $169 30 days 2/23/24
225 Bay View Drive 3 2.5 1,600 $258,980 $258,000 $161 109 days 2/23/24
9406 Sanibel Loop 3 2 1,759 $295,000 $292,500 $166 233 days 2/23/24
772 Culpeo Avenue 4 3.5 2,926 $621,949 $621,949 $212 0 days 2/22/24
25943 Chamberlain Drive 4 2.5 2,266 $390,000 $315,000 $139 16 days 2/22/24
32483 Wildflower Trail 5 3.5 4,037 $645,000 $640,000 $158 37 days 2/22/24
264 Royal Lane 4 2 2,060 $419,000 $398,300 $193 147 days 2/22/24
10886 Secretariat Boulevard 4 3.5 2,618 $561,900 $557,900 $213 160 days 2/22/24
104 N Bayview Drive 3 3 4,139 $2,350,000 $2,072,000 $500 216 days 2/22/24
10773 County Road 32 4 3 2,890 $660,000 $650,000 $224 211 days 2/22/24
13503 Antler Hill Road 4 2 1,884 $348,985 $348,985 $185 0 days 2/21/24
9377 Marchand Avenue 4 3 2,174 $394,000 $390,000 $179 5 days 2/21/24
11442 Elysian Circle 4 3.5 3,074 $625,000 $625,000 $203 3 days 2/21/24
218 Bronze Street 4 3 2,657 $429,000 $429,000 $161 82 days 2/21/24
365 Mershon Street N/A N/A N/A $125,000 $108,000 Unknown 292 days 2/21/24
515 Equality Avenue 2 1 842 $497,000 $460,000 $546 31 days 2/20/24
36 SPECKLE TROUT RTE 4 3.5 3,100 $659,000 $610,000 $196 68 days 2/20/24
SPARROW Avenue N/A N/A N/A $78,500 $75,000 Unknown 59 days 2/20/24
106 Covey Run Place 3 2 1,627 $274,900 $270,000 $165 57 days 2/20/24
11575 Yuma Lane 4 2 2,648 $419,900 $417,000 $157 63 days 2/20/24
25726 Ravenwood Circle 4 2.5 2,577 $439,500 $422,500 $163 6 days 2/20/24
10737 Bahia Court 4 2.5 2,487 $379,000 $373,250 $150 36 days 2/20/24
Calyx Circle N/A N/A N/A $285,000 $285,000 Unknown 214 days 2/20/24
Williams Road N/A N/A N/A $89,000 $75,000 Unknown 343 days 2/20/24
2029 Sea Cliff Drive Unit 2B 1 1 538 $149,000 $135,000 $250 7 days 2/19/24
552 Overland Drive 4 2 1,884 $349,960 $349,960 $185 15 days 2/19/24
9560 Abel Marle Court 3 2 1,630 $299,900 $294,000 $180 55 days 2/19/24
13653 Antler Hill Road 4 2 1,835 $333,900 $333,900 $181 42 days 2/19/24
8526 Rosedown Lane 4 2 1,954 $352,825 $352,825 $180 78 days 2/16/24
12787 River Creek Drive 3 2 1,846 $549,900 $535,000 $289 160 days 2/16/24
22133 Lot 41 Fairhope Motorcoach Loop N/A N/A N/A $149,000 $140,000 Unknown 351 days 2/16/24
181 Club Drive 3 2 1,936 $385,000 $378,000 $195 0 days 2/15/24
12820 Sanderling Loop 4 3.5 2,845 $485,000 $485,000 $170 79 days 2/15/24
154 Easton Circle 5 3 2,667 $610,000 $600,000 $224 244 days 2/15/24
12204 Aurora Way 4 3.5 2,495 $424,000 $424,000 $169 11 days 2/14/24
Parker Lane N/A N/A N/A $47,000 $40,000 Unknown 3 days 2/14/24
62 S Ingleside Avenue 3 2.5 2,520 $375,000 $310,000 $123 31 days 2/14/24
104 Penny Lane 5 2.5 2,427 $325,000 $315,000 $129 40 days 2/14/24
124 Tomrick Circle N/A N/A N/A $25,800 $17,500 Unknown 77 days 2/14/24
356 Boone Lane 3 2.5 1,950 $899,000 $847,500 $434 115 days 2/14/24
4 Parma Drive 3 2 1,703 $265,000 $265,000 $155 8 days 2/13/24
13515 Antler Hill Road 4 3 1,833 $337,900 $337,900 $184 18 days 2/13/24
309 Bloomsbury Avenue 3 2 1,594 $300,000 $285,000 $178 16 days 2/12/24
11322 Genuine Risk Circle 4 3.5 2,785 $453,250 $451,600 $162 8 days 2/12/24
12034 Squirrel Drive 4 2 2,486 $375,000 $355,000 $142 70 days 2/12/24
9496 Hanloe Lane 4 2.5 2,355 $467,000 $440,000 $186 79 days 2/12/24
Average: 3.6 2.6 2,244 $442,989 $430,148 $204 73 days
Viewing 1 - 50 of 1009
Viewing 1 - 50 of 1009

© 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 .