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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
31625 Spoonbill Road 5 3 3,038 $550,000 $181 0 days
508 General Maury Drive 3 2.5 1,927 $325,000 $168 1 day
513 Gayfer Avenue 3 2 1,901 $500,000 $263 0 days
9595 Cobham Park Drive 3 2 1,813 $330,000 $182 0 days
10656 Leesburg Pike 4 3 2,659 $625,000 $235 0 days
County Road 1 N/A N/A N/A $440,000 Unknown 0 days
1082 N Seacliff Drive Unit 2B-1082 1 1 538 $140,000 $260 0 days
8784 Riverton Court 3 2 2,154 $419,900 $194 1 day
330 Barndling Street 4 3.5 2,495 $480,453 $192 1 day
150 Willow Lake Drive 4 3 2,727 $775,000 $284 1 day
301 S Bayview Street 6 3.5 4,176 $2,495,000 $597 1 day
Hidden Creek Circle N/A N/A N/A $99,999 Unknown 1 day
18269 Colony Drive Unit 601 4 3.5 2,606 $1,200,000 $460 1 day
111 N Summit Street 3 2 2,780 $1,400,000 $503 1 day
11207 County Road 1 3 2 1,260 $775,000 $615 1 day
22851 Clearwater Circle 4 2.5 3,415 $694,800 $203 1 day
10301 Windmill Road 3 2 1,546 $315,000 $203 1 day
200 Rolling Hill Drive 4 2.5 1,967 $295,000 $149 1 day
109 D'estrehan Road 4 2 2,167 $395,000 $182 1 day
13252 County Road 1 3 1 1,080 $415,000 $384 1 day
10221 Bay Haven Drive 3 1.5 1,560 $369,000 $236 2 days
1512 Tiffany Lane 4 2.5 1,999 $295,000 $147 2 days
709 Johnson Avenue 3 1.5 1,104 $449,900 $407 2 days
405 Spanish Main 4 2.5 2,313 $360,000 $155 2 days
705 Artillery Range 4 2.5 2,429 $249,900 $102 2 days
417 Patlynn Drive 4 2 2,171 $649,000 $298 2 days
8810 Asphodel Lane 3 2 1,947 $350,000 $179 3 days
24345 Shared Belief Court 4 3 2,304 $424,430 $184 3 days
10980 Secretariat Boulevard 4 3 2,607 $540,465 $207 3 days
9861 Bella Drive 5 4 3,579 $699,000 $195 3 days
8655 Brook Lane 3 2 1,200 $269,900 $224 3 days
14163 SHERWOOD HIGHLAND Road 3 2 2,381 $799,000 $335 3 days
23342 Shadowridge Drive 3 2 1,651 $294,900 $178 4 days
108 Atkinson Lane 3 2 2,456 $1,239,000 $504 4 days
16272 Laurelbrooke Loop 4 2 1,791 $338,308 $188 4 days
16401 Laurelbrooke Loop 4 2 2,031 $356,308 $175 4 days
Ridgewood Drive N/A N/A N/A $6,500 Unknown 4 days
101 Chatwood Circle 4 2.5 2,580 $339,000 $131 5 days
9501 County Road 24 4 2 2,160 $1,990,000 $921 5 days
2407 Pollard Road N/A N/A N/A $189,000 Unknown 5 days
511 W Bay Bluff 3 3.5 2,370 $589,900 $248 5 days
9987 Bay Meadows Drive 3 2 2,550 $509,900 $199 5 days
11341 Animal Kingdom Way Unit LOT 837 4 2 2,091 $405,860 $194 5 days
11364 Animal Kingdom Way 5 3 2,409 $437,900 $181 5 days
Boardwalk Drive N/A N/A N/A $35,900 Unknown 5 days
24357 Shared Belief Court 4 2 2,091 $405,860 $194 5 days
31072 Wakefield Drive 4 2.5 2,463 $399,900 $162 5 days
31400 Shambo Road 4 2 1,687 $315,000 $186 5 days
1406 Perch Street 2 1 1,208 $299,000 $247 5 days
850 Hancock Road 3 2 1,727 $399,000 $231 5 days
Average: 3.6 2.6 2,311 $514,165 $251 132 days
Viewing 1 - 50 of 845
Viewing 1 - 50 of 845
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
563 N Mobile Street 3 3.5 3,706 $1,400,000 $377 41 days
12758 Dominion Drive 4 2.5 2,810 $649,000 $230 2 days
9647 Bella Drive 4 4 3,031 $597,999 $197 2 days
Scenic Highway 98 N/A N/A N/A $59,000 Unknown 1 day
11157 Redfern Road 6 4.5 3,720 $989,900 $266 18 days
23747 Dominus Drive 3 2 1,760 $377,900 $214 6 days
120 Buena Vista Drive 3 2 1,333 $209,000 $156 0 days
162 Hawthorne Circle 3 3 2,155 $410,000 $190 0 days
23896 Dominus Drive 3 2 1,760 $360,500 $204 7 days
22 Lake Shore Drive Unit 22 3 3 1,486 $189,900 $127 5 days
Lafite Loop 3 2 1,760 $377,600 $214 7 days
23804 Dominus Drive 3 2 1,760 $359,200 $204 7 days
12268 Aurora Way 5 3 3,434 $518,500 $150 5 days
31565 Shadwell Drive 4 3 2,357 $399,900 $169 4 days
12946 Grand Rapids Road 4 2 1,835 $348,900 $190 5 days
8 SPECKLE TROUT RTE 4 3.5 3,007 $486,500 $161 37 days
145 Rolling Hill Drive 3 2 2,190 $287,900 $131 36 days
9492 Marchand Avenue 4 3 2,149 $450,000 $209 2 days
504 Golden Leaf Avenue 4 3 2,267 $410,990 $181 9 days
24315 Alydar Loop Unit 3 5 3 2,197 $365,000 $166 5 days
12894 E Shoshoney Circle Unit 354 Hawthorne 4 3 2,486 $436,872 $175 11 days
23632 Unbridled Loop 4 2 2,031 $329,000 $161 5 days
12905 Sanderling Loop 4 3.5 2,829 $469,900 $166 11 days
26715 Rigsby Road 3 2 2,026 $775,000 $382 8 days
9060 Caymus Circle 3 2 1,760 $363,500 $206 13 days
24026 Shadowridge Drive 4 3 2,203 $441,000 $200 13 days
29761 St George Street 3 2.5 2,250 $479,500 $213 3 days
18105 Quail Run Unit 8-B 2 3 1,890 $875,000 $462 5 days
24079 Shadowridge Drive 5 3 3,130 $694,800 $221 14 days
23774 Dominus Drive 3 2 1,760 $347,200 $197 14 days
23872 Dominus Drive 3 2 1,760 $407,500 $231 14 days
24017 Shadowridge Drive 4 3 2,675 $656,600 $245 14 days
24043 Shadowridge Drive 4 3 2,675 $669,150 $250 14 days
781 Serpentine Drive 3 2 1,710 $329,900 $192 0 days
203 Lakeridge Drive 3 2 2,048 $377,000 $184 1 day
26140 Gilmore Way 3 2 1,594 $299,000 $187 4 days
32257 Lexington Drive 3 2 1,281 $275,880 $215 2 days
582 Theakston Street 5 4 3,135 $725,000 $231 52 days
9214 Ottawa Drive 3 2 1,736 $325,000 $187 5 days
27371 French Settlement Drive 4 3 2,518 $545,000 $216 15 days
293 Cuban Lily Drive 4 3.5 2,455 $905,000 $368 5 days
224 Golf Terrace Unit 1-G 1 1 600 $133,500 $222 10 days
103 Pagan Circle 3 2.5 1,744 $309,990 $177 0 days
23892 Songbird Drive 4 2 1,747 $303,900 $173 12 days
1106 2nd Street 8 8 3,960 $425,000 $107 4 days
100 Doris Avenue 4 2 1,865 $315,000 $168 4 days
12205 Chaucer Avenue 3 2 1,788 $315,000 $176 18 days
211 Rock Creek Parkway N/A N/A N/A $84,900 Unknown 2 days
10824 Sandy Lane 4 2 1,617 $280,000 $173 10 days
11461 Genuine Risk Circle 5 3.5 2,874 $469,370 $163 13 days
Average: 3.7 2.6 2,291 $458,891 $205 76 days
Viewing 1 - 50 of 448
Viewing 1 - 50 of 448
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
30716 Pine Court 4 3 2,794 $459,000 $445,000 $159 20 days 5/22/24
6322 Battles Road 4 4 3,008 $1,350,000 $1,325,000 $440 46 days 5/22/24
33737 Rutland Lane 4 3 2,717 $589,000 $585,000 $215 65 days 5/22/24
152 Old Mill Road 4 3 3,133 $729,000 $707,000 $225 6 days 5/21/24
10146 Landsdown Drive 4 2.5 2,149 $415,000 $408,000 $189 25 days 5/21/24
239 Montclair Loop 3 2 1,462 $234,900 $245,000 $167 2 days 5/20/24
10401 Papas Street 5 3 3,079 $549,900 $549,900 $178 3 days 5/20/24
310 Bronze Street 3 2 1,648 $325,000 $325,000 $197 0 days 5/20/24
31958 Calder Court 3 2 1,998 $325,000 $330,500 $165 8 days 5/20/24
513 Spanish Main 5 3 2,783 $435,000 $428,500 $153 47 days 5/20/24
14954 State Highway 181 3 2.5 1,906 $485,000 $467,500 $245 75 days 5/20/24
21472 Yosemite Boulevard 4 2 1,886 $298,990 $298,990 $158 72 days 5/20/24
389 Rothley Avenue 4 3 2,570 $549,900 $549,000 $213 75 days 5/20/24
9950 Gaineswood Boulevard Unit 1 3 2 1,988 $364,900 $364,900 $183 83 days 5/20/24
31457 Buckingham Boulevard 4 2 2,244 $365,000 $365,000 $162 20 days 5/17/24
117 Chestnut Ridge 3 2.5 2,667 $570,000 $570,000 $213 42 days 5/17/24
9531 Chariot Avenue 3 2 1,983 $341,700 $335,000 $168 47 days 5/17/24
10328 Gayfer Road Ext 3 2 1,618 $359,900 $359,900 $222 41 days 5/17/24
9024 Brookside Lane 3 2 1,361 $285,000 $250,000 $183 46 days 5/17/24
6587 Garrison Drive 4 3.5 2,946 $699,999 $690,000 $234 33 days 5/17/24
15819 Laurelbrooke Loop Unit Lot 25 4 2 2,031 $354,458 $350,808 $172 78 days 5/17/24
336 Knollwood Avenue 3 2 1,716 $315,000 $310,000 $180 85 days 5/17/24
9927 Volterra Avenue 4 2 1,953 $365,000 $365,000 $186 91 days 5/17/24
708 Greenwood Avenue 4 3.5 2,616 $774,999 $750,000 $286 89 days 5/17/24
215 Fig Avenue 4 2 1,600 $485,000 $470,000 $293 167 days 5/17/24
952 Whittier Street 3 2 2,185 $549,000 $545,000 $249 4 days 5/16/24
126 Broadmoor Drive 3 2 1,721 $299,900 $295,000 $171 77 days 5/16/24
26 Viale Bellezza 4 3.5 2,723 $689,900 $629,000 $230 172 days 5/16/24
Malone Road N/A N/A N/A $69,900 $50,000 Unknown 218 days 5/16/24
13643 County Road 3 3 2 1,800 $1,400,000 $1,280,000 $711 308 days 5/16/24
205 Mount Pleasant Boulevard N/A N/A N/A $168,000 $168,000 Unknown 259 days 5/16/24
19145 County Road 13 4 2.5 2,070 $360,000 $365,000 $176 1 day 5/15/24
Greeno Road N/A N/A N/A $40,000 $28,000 Unknown 0 days 5/15/24
226 Maplewood Loop 3 2 1,440 $227,000 $235,000 $163 10 days 5/15/24
21 Lee Circle 3 2 1,655 $299,900 $300,000 $181 22 days 5/15/24
10116 Papas Street 3 2 1,472 $335,000 $323,410 $219 47 days 5/15/24
17312 Bankhead Boulevard 4 2 2,512 $409,000 $409,000 $162 13 days 5/15/24
12349 W Gracie Lane Unit 33-04-19-0=000-002.203 5 4 3,388 $734,990 $723,000 $213 39 days 5/15/24
10048 Dunleith Loop 4 3.5 2,495 $419,000 $429,000 $171 32 days 5/15/24
10551 Poser Drive 3 2.5 2,507 $445,000 $415,000 $165 131 days 5/15/24
8 Summer Lane 4 2.5 3,339 $1,485,000 $1,375,000 $411 118 days 5/15/24
620 Nathaniel Avenue 4 3 2,339 $440,000 $430,000 $183 181 days 5/15/24
30922 Wellington Court 4 2 2,646 $369,000 $350,000 $132 183 days 5/15/24
110 Woodside Drive 3 2.5 1,996 $320,000 $315,000 $157 0 days 5/14/24
38 Hoffren Drive 2 2 1,831 $307,000 $307,000 $167 5 days 5/14/24
8653 Caballo Court 4 3 2,208 $335,000 $335,000 $151 6 days 5/14/24
462 Fairland Avenue 4 3 2,253 $460,000 $440,000 $195 243 days 5/14/24
102 Tomrick Circle 3 2.5 2,016 $315,000 $309,000 $153 3 days 5/13/24
305 Ann Street 2 2 1,850 $799,000 $778,500 $420 14 days 5/13/24
13374 Ibis Boulevard 4 3 2,540 $533,400 $532,500 $209 11 days 5/13/24
Average: 3.6 2.5 2,254 $440,574 $427,373 $204 77 days
Viewing 1 - 50 of 1041
Viewing 1 - 50 of 1041

© 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 .