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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
104 Appomatox Drive 3 2 1,543 $235,900 $152.88 2 days
29190 Canterbury Road 3 2 1,466 $265,000 $180.76 3 days
406 Fortune Drive 5 4 2,935 $619,000 $210.90 3 days
30138 Persimmon Dr 3 2 1,887 $389,000 $206.15 6 days
12029 County Road 54 N/A N/A N/A $275,000 Unknown 3 days
32220 Sibley Creek Road 3 2 1,544 $269,900 $174.81 3 days
696 Greenwood Avenue 3 2 2,139 $445,000 $208.04 3 days
7208 Rushing Water Court 4 3 3,124 $565,000 $180.86 3 days
28545 Bay Branch Drive 5 2 2,932 $465,000 $158.59 3 days
818 Tealeaf Willow Lane 5 3 3,062 $490,000 $160.03 3 days
31503 Hoot Owl Road 4 3 2,476 $418,000 $168.82 3 days
8220 Irwin Loop 4 2 2,108 $334,900 $158.87 3 days
143 Bay View Drive 3 2 1,825 $279,000 $152.88 4 days
27038 Creekwood Drive 4 3 2,494 $474,900 $190.42 4 days
11675 Mary Ann Beach Road N/A N/A N/A $89,000 Unknown 5 days
J V Cummings Drive N/A N/A N/A $115,000 Unknown 5 days
7498 J V Cummings Drive N/A N/A N/A $115,000 Unknown 5 days
18269 Colony Drive Unit 305 3 3 1,899 $712,000 $374.93 4 days
8631 Brook Lane 3 2 1,357 $260,000 $191.60 4 days
318 Colonial Dr 3 2 1,983 $589,000 $297.02 4 days
13038 Kinlock Falls Ave 4 2 2,353 $398,500 $169.36 4 days
River View Road N/A N/A N/A $225,000 Unknown 4 days
181 Rolling Hill Drive 5 3 3,272 $489,900 $149.72 4 days
249 Montclair Loop 3 2 1,856 $317,500 $171.07 4 days
124 Gilbreath Avenue 3 2 2,101 $395,000 $188.01 5 days
Petiole Drive 4 4 3,151 $1,075,000 $341.16 5 days
108 Hospital Drive 4 2 1,682 $520,000 $309.16 5 days
11596 Yuma Lane 4 2 2,650 $369,900 $139.58 5 days
31461 Spoonbill Road 4 3 2,496 $385,000 $154.25 5 days
19235 Fairfield Drive 4 3 3,179 $499,000 $156.97 5 days
21638 Gullfoss Street 4 2 2,406 $425,000 $176.64 5 days
34505 Paisley Avenue 4 2 1,830 $295,000 $161.20 5 days
Park Drive N/A N/A N/A $29,000 Unknown 5 days
Park Drive N/A N/A N/A $29,000 Unknown 5 days
157 Orange Avenue N/A N/A N/A $360,000 Unknown 7 days
969 Charleston Loop 3 2 2,119 $559,500 $264.04 6 days
30826 Semper Dr Unit 104 4 3 2,304 $380,460 $165.13 6 days
31300 Semper Dr Unit 131 4 2 2,306 $364,310 $157.98 6 days
17544 Pierce Road 4 3 3,255 $835,000 $256.53 8 days
1 Cedar Point 4 3 2,639 $395,000 $149.68 6 days
24001 Citation Loop 4 2 1,791 $328,000 $183.14 6 days
710 S Mobile Street Unit 41 2 2 1,865 $439,900 $235.87 9 days
309 S Ingleside Avenue Unit 6 3 2 1,498 $515,000 $343.79 7 days
8847 Asphodel Lane 4 2 1,909 $375,000 $196.44 6 days
743 Bona Venture Street 3 2 1,756 $344,900 $196.41 7 days
30802 Cemetery Road 3 1 1,150 $219,000 $190.43 7 days
309 S Ingleside Avenue Unit 7 3 2 1,498 $515,000 $343.79 7 days
31815 Bobwhite Road 4 3 2,940 $620,000 $210.88 9 days
309 S Ingleside Avenue Unit 3 3 2 1,498 $515,000 $343.79 7 days
309 S Ingleside Avenue Unit 2 3 2 1,498 $515,000 $343.79 7 days
Average: 3.8 2.6 2,505 $399,687 $233 207 days
Viewing 1 - 50 of 672
Viewing 1 - 50 of 672
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
726 Oak Bluff Drive 3 2 2,366 $449,900 $190.15 2 days
20690 Blueberry Lane 3 2 2,095 $383,000 $182.82 3 days
9234 Sanibel Loop 3 2 1,697 $315,000 $185.62 4 days
341 Pecan Ridge Blvd 4 2 2,615 $550,000 $210.33 4 days
144 Vivian Loop 3 2 1,929 $305,000 $158.11 4 days
10401 Goodrich Way 4 3 2,657 $498,500 $187.62 5 days
500 Grant St Unit D214 2 1 873 $134,000 $153.49 18 days
7713 Kari Lane 3 2 1,655 $265,000 $160.12 6 days
11789 Hons Dr 4 3 2,265 $413,475 $182.55 10 days
309 S Ingleside Avenue Unit 8 3 2 1,498 $515,000 $343.79 7 days
309 S Ingleside Avenue Unit 5 3 2 1,498 $515,000 $343.79 7 days
309 S Ingleside Avenue Unit 4 3 2 1,498 $515,000 $343.79 7 days
102 Georgia Avenue 3 2 1,333 $242,000 $181.55 7 days
645 Ridgewood Drive 4 2 2,118 $319,000 $150.61 8 days
6918 Spaniel Drive 3 2 1,783 $252,000 $141.33 9 days
610 Sharpsburg Ave 4 3 2,806 $596,343 $212.52 10 days
15166 County Road 13 3 2 2,153 $410,000 $190.43 10 days
2095 Sea Cliff South Unit 2095 2 2 951 $150,000 $157.73 10 days
855 Lafayette Drive 3 2 1,774 $369,900 $208.51 10 days
837 Apricot Lane 3 3 2,345 $668,136 $284.92 513 days
942 Hibiscus Circle 3 3 2,235 $618,613 $276.78 121 days
589 Turquoise Drive 3 2 1,770 $369,900 $208.98 10 days
833 Apricot Lane 4 4 3,100 $850,947 $274.50 528 days
829 Apricot Lane 4 4 2,800 $739,168 $263.99 513 days
855 Apricot Lane 3 3 2,345 $622,766 $265.57 521 days
114 Montclair Loop 3 2 1,748 $269,900 $154.41 10 days
10295 Ruffian Route 4 2 1,787 $286,380 $160.26 10 days
7034 Oak Point Lane 5 4 4,418 $1,298,900 $294 10 days
31560 Hoot Owl Road 4 3 2,942 $498,900 $169.58 10 days
24556 Alex Court 3 2 2,729 $435,000 $159.40 10 days
10204 Fionn Loop 3 2 1,523 $285,000 $187.13 11 days
202 Conti Court 4 2 2,126 $390,000 $183.44 11 days
151 Club Drive 3 2 1,701 $349,900 $205.70 11 days
7310 E Highpointe Place 4 2 2,194 $305,000 $139.02 11 days
30026 D'olive Ridge 4 4 3,209 $599,900 $186.94 11 days
11616 Burris Road 3 2 2,344 $495,000 $211.18 12 days
34146 Farrington Lane 5 3 3,334 $639,000 $191.66 12 days
771 Cheswick Avenue 3 2 1,644 $290,000 $176.40 13 days
2070 Sea Cliff North Unit 2070 1 1 538 $110,000 $204.46 15 days
17168 Polo Ridge Blvd 4 3 3,199 $799,900 $250.05 13 days
160 Buena Vista Drive 3 2 1,502 $249,900 $166.38 13 days
8021 Deerwood Drive 3 2 1,647 $224,900 $136.55 17 days
26 Orchard Drive 2 2 2,370 $575,000 $242.62 14 days
306 College Avenue 3 2 2,446 $535,000 $218.72 14 days
25911 Tealwood Drive 4 3 2,612 $480,000 $183.77 14 days
1411 Wilson Av 3 1 1,414 $228,500 $161.60 15 days
115 Donna Circle 3 2 1,452 $240,000 $165.29 16 days
6939 Falls Church Ct 4 2 1,968 $304,900 $154.93 16 days
9649 Widgeon Court 4 2 2,716 $529,000 $194.77 16 days
10979 Winning Colors Trail 4 3 2,363 $367,415 $155.49 16 days
Average: 3.7 2.5 2,392 $473,611 $194 97 days
Viewing 1 - 50 of 435
Viewing 1 - 50 of 435
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
10340 Gayfer Road Ext 3 2 2,141 $390,000 $390,000 $182.16 28 days 7/1/22
9963 Volterra Avenue 4 2 1,943 $349,900 $349,000 $179.62 30 days 7/1/22
1 Union Pass 3 2 2,089 $365,000 $375,000 $179.51 30 days 7/1/22
32422 Wildflower Trail 4 3 2,642 $470,000 $471,000 $178.27 30 days 7/1/22
25806 Pollard Road Unit 74 3 2 1,516 $219,900 $224,000 $147.76 39 days 7/1/22
24528 Smarty Jones Circle 4 3 2,785 $400,000 $390,000 $140.04 40 days 7/1/22
8593 Rockwell Lane 3 2 1,609 $310,000 $310,000 $192.67 42 days 7/1/22
10296 Dunmore Drive 4 3 2,417 $410,000 $410,000 $169.63 50 days 7/1/22
30212 Persimmon Dr 3 2 2,000 $370,000 $352,000 $176 66 days 7/1/22
27891 Annabelle Lane 4 3 2,326 $409,999 $400,000 $171.97 85 days 7/1/22
9351 Timbercreek Blvd N/A N/A N/A $150,000 $145,000 Unknown 211 days 7/1/22
North Drive N/A N/A N/A $24,500 $20,000 Unknown 723 days 7/1/22
24797 Margrave Circle 4 2 1,835 $299,900 $297,450 $162.10 13 days 6/30/22
262 Royal Lane 4 3 3,060 $479,000 $480,000 $156.86 29 days 6/30/22
508 Rolling Hill Circle 3 2 1,645 $278,900 $278,900 $169.54 41 days 6/30/22
117 Montclair Loop 3 2 1,843 $269,000 $240,000 $130.22 48 days 6/30/22
118 Mcintosh Bluff 4 3 4,290 $699,000 $699,000 $162.94 49 days 6/30/22
442 Fortune Drive 4 2 3,097 $695,000 $695,001 $224.41 49 days 6/30/22
25092 Jernigan Street 3 2 2,311 $347,000 $342,500 $148.20 51 days 6/30/22
10886 Native Dancer Way 4 3 2,785 $407,470 $410,770 $147.49 78 days 6/30/22
10823 Native Dancer Way 4 2 2,018 $344,806 $344,806 $170.87 78 days 6/30/22
10656 Winning Colors Trail 4 2 1,948 $330,140 $330,140 $169.48 90 days 6/30/22
30276 Persimmon Dr 3 2 2,126 $395,000 $395,000 $185.79 111 days 6/30/22
10926 Native Dancer Way 4 3 2,363 $373,092 $372,192 $157.51 119 days 6/30/22
28457 Bay Cliff Lane 3 3 2,616 $820,000 $775,000 $296.25 139 days 6/30/22
438 McClellan Blvd 4 3 2,806 $543,577 $538,577 $191.94 312 days 6/30/22
7192 Park Drive N/A N/A N/A $59,000 $54,500 Unknown 395 days 6/30/22
Powderhorn Ridge Road N/A N/A N/A $152,500 $152,500 Unknown 759 days 6/30/22
100 Willowbrook Circle 4 2 2,700 $345,600 $350,000 $129.63 37 days 6/29/22
12024 Balsam Court 4 2 2,154 $339,900 $339,000 $157.38 40 days 6/29/22
207 S Mobile Street Unit 201 2 1 913 $275,000 $265,250 $290.53 47 days 6/29/22
18269 Colony Drive Unit 406 2 2 1,634 $539,000 $530,000 $324.36 48 days 6/29/22
210 Montclair Loop 2 2 1,576 $204,900 $204,900 $130.01 56 days 6/29/22
50 S Church Street Unit 11 3 3 1,766 $525,000 $525,000 $297.28 64 days 6/29/22
17472 Pandion Ridge Unit 17472 3 2 1,452 $249,900 $220,000 $151.52 70 days 6/29/22
31311 Oakridge Court 4 3 2,383 $349,900 $351,000 $147.29 70 days 6/29/22
9448 Amethyst Drive 4 3 2,785 $395,725 $395,725 $142.09 92 days 6/29/22
10670 Northern Dancer Ct 4 2 2,031 $305,000 $305,000 $150.17 111 days 6/29/22
10354 Ruffian Route 4 2 1,787 $286,364 $305,825 $171.14 111 days 6/29/22
31191 Semper Dr 4 2 2,018 $333,038 $333,053 $165.04 118 days 6/29/22
31568 Canopy Loop 3 2 1,861 $378,093 $378,093 $203.17 119 days 6/29/22
10311 Zenyatta Loop 4 2 2,030 $294,285 $315,000 $155.17 127 days 6/29/22
10708 US Highway 98 4 4 5,850 $2,275,000 $1,775,000 $303.42 147 days 6/29/22
29910 D'olive Ridge N/A N/A N/A $18,000 $13,000 Unknown 462 days 6/29/22
101 Cotswold Court 3 3 2,094 $600,000 $600,000 $286.53 27 days 6/28/22
9798 Volterra Avenue 4 3 2,500 $399,000 $395,000 $158 32 days 6/28/22
19910 Bunker Loop 3 2 2,034 $429,000 $429,000 $210.91 32 days 6/28/22
8827 Asphodel Lane 3 2 1,675 $320,000 $320,000 $191.04 40 days 6/28/22
110 Kensington Court 3 2 1,661 $339,000 $310,000 $186.63 43 days 6/28/22
10867 Northern Dancer Ct Unit 176 4 2 1,787 $295,000 $295,000 $165.08 78 days 6/28/22
Average: 3.6 2.4 2,280 $409,065 $403,223 $186 109 days
Viewing 1 - 50 of 1689
Viewing 1 - 50 of 1689

© 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 .