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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
543 Crackwillow Ave 3 2 1,684 $335,000 $198.93 1 day
Morphy Avenue N/A N/A N/A $225,000 Unknown 1 day
32035 Bobwhite Road 5 2 2,961 $630,000 $212.77 1 day
Sanctuary Cove N/A N/A N/A $159,000 Unknown 1 day
Rigsby Rd N/A N/A N/A $1,460,000 $38,421.05 2 days
106 Wildwood Cir 3 2 2,053 $200,000 $97.42 2 days
10921 Northern Dancer Ct 3 2 1,641 $284,284 $173.24 2 days
10139 Bayou Circle N/A N/A N/A $199,000 Unknown 2 days
12362 Keller Rd 3 2 1,536 $399,900 $260.35 2 days
11624 County Road 48 2 1 1,359 $285,000 $209.71 2 days
30743 Pinyon Drive 4 3 2,187 $343,700 $157.16 2 days
559 Wedgewood Drive 3 2 1,858 $265,000 $142.63 3 days
30500 Waites Ln 3 1 1,053 $159,900 $151.85 4 days
24563 Alex Court 3 2 2,246 $379,900 $169.15 4 days
13073 Sanderling Loop 3 2 2,333 $387,000 $165.88 4 days
10815 Winning Colors Trail 5 3 2,409 $376,524 $156.30 4 days
10943 Winning Colors Trail 5 3 2,409 $376,450 $156.27 4 days
11008 Animal Kingdom Way 4 2 1,787 $289,380 $161.94 4 days
10996 Animal Kingdom Way 4 2 1,787 $289,380 $161.94 4 days
105 Meadow Wood Loop 3 2 1,790 $269,900 $150.78 5 days
30291 Westminster Gates Drive 4 3 3,521 $499,000 $141.72 5 days
110 Lakeview Loop 3 2 2,292 $325,000 $141.80 5 days
149 Bayview Drive 3 2 1,768 $264,900 $149.83 5 days
650 Gayfer Avenue 4 3 3,000 $1,199,999 $400 5 days
126 Marikesh Drive 4 2 2,100 $351,000 $167.14 5 days
16020 Keeney Drive 3 3 1,642 $570,000 $347.14 6 days
27348 Parker Lane 3 2 1,646 $250,900 $152.43 5 days
13095 Keller Rd 4 3 2,887 $749,000 $259.44 5 days
27492 Hobby Horse Lane 5 2 2,737 $385,000 $140.66 5 days
717 Morphy Avenue 3 1 1,072 $319,000 $297.57 6 days
306 Wakefield Ave 4 3 2,891 $467,900 $161.85 6 days
6415 Nelson Drive 4 3 2,176 $850,000 $390.63 6 days
21549 Yosemite Blvd 4 2 1,847 $335,000 $181.38 6 days
312 Poplar Place 3 3 2,250 $600,000 $266.67 6 days
6401 Jackson Oak Drive 3 2 2,367 $525,000 $221.80 6 days
9366 Diamante Blvd 5 3 3,113 $419,640 $134.80 7 days
10988 Animal Kingdom Way 4 2 1,787 $289,380 $161.94 7 days
102 Woodside Drive 3 2 1,935 $280,000 $144.70 7 days
30914 Semper Dr Unit 110 4 3 2,304 $385,335 $167.25 7 days
521 Cassava Lane 4 3 3,005 $615,000 $204.66 7 days
12728 Chickadee Lane 4 2 1,830 $349,000 $190.71 8 days
359 Craftsman Avenue 4 3 2,522 $535,000 $212.13 8 days
11828 Halcyon Loop 4 2 3,299 $649,000 $196.73 8 days
226 Silo Loop 5 3 2,409 $349,000 $144.87 9 days
58 N Bayview Street 3 3 2,352 $1,300,000 $552.72 9 days
Glover Road N/A N/A N/A $95,000 Unknown 14 days
861 Colonial Dr 3 2 2,241 $449,900 $200.76 9 days
Twin Beach Road N/A N/A N/A $199,500 Unknown 14 days
173 Greenwood Drive 3 2 2,094 $285,000 $136.10 9 days
103 Kentwood Drive 5 3 2,800 $329,000 $117.50 9 days
Average: 3.7 2.5 2,478 $416,423 $236 218 days
Viewing 1 - 50 of 694
Viewing 1 - 50 of 694
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
9547 Cobham Park Drive 3 2 2,093 $369,950 $176.76 3 days
10933 Northern Dancer Ct 4 2 1,787 $289,364 $161.93 4 days
200 Parma Drive 3 2 1,332 $192,000 $144.14 5 days
10960 Animal Kingdom Way 4 2 1,787 $289,380 $161.94 5 days
25806 Pollard Road Unit 204 3 2 1,455 $185,000 $127.15 5 days
10909 Northern Dancer Ct 4 2 1,787 $289,364 $161.93 6 days
110 Boosketuh Circle 3 2 2,075 $289,500 $139.52 9 days
25821 Argonne Drive 3 2 1,817 $299,900 $165.05 9 days
699 Maxwell Avenue 3 2 2,142 $649,000 $302.99 9 days
192 Pemberton Loop 4 2 2,700 $325,000 $120.37 11 days
173 Pliska Street 5 3 3,004 $670,000 $223.04 13 days
189 Richmond Road 3 2 1,349 $225,000 $166.79 12 days
9732 Watkins Drive 4 2 1,857 $319,500 $172.05 13 days
1435 Randall Avenue 3 2 2,168 $419,500 $193.50 13 days
104 Geneva Drive 3 2 1,703 $244,900 $143.81 13 days
18117 Scenic Highway 98 Unit 100 3 2 1,456 $958,900 $658.59 14 days
24646 Smarty Jones Circle 4 3 2,304 $379,900 $164.89 14 days
19545 Quail Creek Drive 3 2 1,771 $324,900 $183.46 14 days
10936 Animal Kingdom Way 4 2 1,787 $289,380 $161.94 14 days
6135 Saddlewood Lane 5 4 4,152 $1,075,000 $258.91 14 days
25691 Ravenwood Circle 4 3 2,897 $499,000 $172.25 14 days
32226 Calder Court 5 3 2,511 $335,000 $133.41 14 days
25435 Ravenwood Circle 4 3 2,431 $385,000 $158.37 14 days
10957 Northern Dancer Ct 3 2 1,641 $284,284 $173.24 15 days
110 Beaver Dam Road 5 4 3,748 $750,000 $200.11 15 days
10945 Northern Dancer Ct 4 2 1,787 $289,900 $162.23 15 days
205 Cuban Lily Drive 3 2 2,025 $627,202 $309.73 517 days
858 Apricot Lane 3 2 1,679 $538,257 $320.58 531 days
9102 Diamante Blvd 4 3 2,304 $365,000 $158.42 18 days
31858 Kestrel Loop 3 2 1,814 $325,000 $179.16 19 days
11479 Lodgepole Court 4 3 2,390 $409,000 $171.13 19 days
589 Turquoise Drive 3 2 1,770 $375,000 $211.86 19 days
28213 Turkey Branch Drive 3 2 1,580 $267,500 $169.30 19 days
30057 D'olive Ridge 5 4 5,302 $989,000 $186.53 19 days
19896 Highway 181 5 3 3,170 $325,000 $102.52 20 days
395 Dover St 3 3 2,401 $459,500 $191.38 20 days
9341 Collier Loop 3 2 1,726 $317,500 $183.95 20 days
306 Liberty Street 2 2 1,056 $485,000 $459.28 20 days
116 Creekside Drive 3 2 1,561 $234,999 $150.54 20 days
116 Wedge Loop 3 2 2,287 $462,500 $202.23 20 days
309 Blackfriars Street 3 2 1,907 $304,900 $159.88 20 days
121 Marikesh Drive 4 2 2,190 $310,000 $141.55 20 days
2 Redfern Road N/A N/A N/A $70,000 Unknown 22 days
905 Charleston Loop 3 2 1,796 $449,989 $250.55 22 days
12690 Squirrel Drive 4 3 2,424 $572,500 $236.18 22 days
8900 Bainbridge Drive 4 3 2,307 $465,000 $201.56 22 days
26217 Via Del San Francesco 3 2 1,999 $349,500 $174.84 23 days
10600 County Road 24 3 2 2,647 $550,000 $207.78 25 days
539 Crackwillow Ave 3 2 1,745 $338,000 $193.70 27 days
450 Dogwood Av 2 1 708 $319,000 $450.56 25 days
Average: 3.7 2.5 2,300 $433,674 $191 101 days
Viewing 1 - 50 of 366
Viewing 1 - 50 of 366
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
9275 Amethyst Drive Unit 96 4 3 2,785 $397,280 $401,395 $144.13 1 day 9/27/22
12659 Waxwing Avenue 5 3 2,403 $390,000 $375,000 $156.05 20 days 9/27/22
12060 Stroh Rd 3 3 3,428 $550,000 $515,000 $150.23 49 days 9/27/22
145 Green Bay Dr 3 2 1,919 $279,900 $265,000 $138.09 60 days 9/27/22
769 Culpeo Avenue 4 3 2,806 $535,257 $541,497 $192.98 284 days 9/27/22
31139 Peregrine Dr 4 3 2,359 $450,000 $450,000 $190.76 40 days 9/26/22
986 Whittier St 4 3 2,551 $529,900 $525,000 $205.80 45 days 9/26/22
100 Tower Drive Unit 1101 3 2 1,791 $419,000 $400,000 $223.34 52 days 9/26/22
12283 Ginger Circle 3 2 1,929 $447,174 $447,174 $231.82 121 days 9/26/22
605 Sharpsburg Ave 4 3 2,540 $582,915 $586,155 $230.77 159 days 9/26/22
49 Summer Oaks Drive Unit 49 3 2 1,360 $179,900 $193,000 $141.91 14 days 9/23/22
9959 Merritt Court 4 2 1,813 $325,000 $325,000 $179.26 32 days 9/23/22
614 Lupine Drive 3 2 1,678 $700,000 $700,000 $417.16 36 days 9/23/22
120 Vivian Loop 3 2 2,000 $269,000 $234,000 $117 58 days 9/23/22
27471 Stratford Glen Drive 4 2 2,347 $315,000 $300,000 $127.82 71 days 9/23/22
31324 Semper Dr 4 3 2,796 $394,900 $395,709 $141.53 73 days 9/23/22
12444 Coyote Drive 5 4 3,850 $1,095,000 $1,040,000 $270.13 91 days 9/23/22
Polo Ridge Blvd N/A N/A N/A $95,000 $75,000 Unknown 107 days 9/23/22
26385 Augustine Drive 4 3 2,830 $389,000 $380,000 $134.28 106 days 9/23/22
10261 Ruffian Route 4 2 1,787 $300,377 $300,377 $168.09 118 days 9/23/22
371 Ridgewood Circle N/A N/A N/A $375,000 $350,000 Unknown 119 days 9/23/22
9439 Amethyst Drive 4 3 2,785 $391,900 $391,900 $140.72 139 days 9/23/22
11251 Lot 37 Highway 104 N/A N/A N/A $169,900 $165,000 Unknown 169 days 9/23/22
21677 Yosemite Blvd 4 2 1,886 $307,990 $307,990 $163.30 169 days 9/23/22
457 Dogwood Av 3 2 1,252 $449,000 $415,000 $331.47 20 days 9/22/22
101 Wicker Way 3 2 1,322 $219,900 $225,000 $170.20 43 days 9/22/22
24084 Songbird Drive 3 2 1,680 $294,900 $287,250 $170.98 56 days 9/22/22
32195 Wildflower Trail 5 3 2,793 $499,000 $489,000 $175.08 72 days 9/22/22
10295 Ruffian Route 4 2 1,787 $286,380 $291,580 $163.17 90 days 9/22/22
13175 Ibis Blvd 4 3 2,806 $569,647 $569,646 $203.01 129 days 9/22/22
710 S Mobile Street Unit 42 2 2 1,740 $389,000 $380,000 $218.39 41 days 9/21/22
108 Augusta Court 4 4 5,168 $899,900 $905,000 $175.12 48 days 9/21/22
12615 River Creek Drive 4 2 2,751 $470,000 $460,000 $167.21 55 days 9/21/22
1604 4th Street N/A N/A N/A $175,000 $168,000 Unknown 63 days 9/21/22
217 Lake Ridge Drive 3 2 2,540 $479,000 $450,100 $177.20 69 days 9/21/22
505 Sherwood Ln 3 2 1,850 $339,900 $307,000 $165.95 76 days 9/21/22
6419 Saddle Wood Lane 4 3 3,153 $779,000 $755,000 $239.45 93 days 9/21/22
10278 Ruffian Route 4 2 2,031 $293,420 $293,420 $144.47 110 days 9/21/22
21665 Yosemite Blvd 4 3 2,132 $317,990 $316,490 $148.45 167 days 9/21/22
31383 Semper Dr 4 2 2,258 $375,900 $376,663 $166.81 223 days 9/21/22
10315 Emmanuel Street 3 2 1,800 $310,000 $310,000 $172.22 7 days 9/20/22
11861 County Road 1 4 3 3,600 $1,335,000 $1,300,000 $361.11 28 days 9/20/22
232 Ridgewood Drive 4 2 1,953 $277,450 $266,450 $136.43 77 days 9/20/22
7034 Oak Point Lane 5 4 4,418 $1,298,900 $1,181,780 $267.49 88 days 9/20/22
10595 Winning Colors Trail 4 3 2,785 $394,345 $394,345 $141.60 129 days 9/20/22
21639 Yosemite Blvd 4 2 1,607 $283,990 $283,990 $176.72 174 days 9/20/22
9 Antebellum Boulevard N/A N/A N/A $7,000 $7,000 Unknown 1433 days 9/20/22
6654 Jackson Square 3 2 1,643 $315,000 $315,000 $191.72 32 days 9/19/22
635 Spanish Main 3 2 2,075 $345,000 $345,000 $166.27 34 days 9/19/22
7697 Raegan Lane 4 3 2,721 $499,900 $485,000 $178.24 38 days 9/19/22
Average: 3.7 2.4 2,313 $436,455 $429,070 $190 95 days
Viewing 1 - 50 of 1628
Viewing 1 - 50 of 1628

© 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 .