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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
23982 Citation Loop Unit 372 Cali 4 2 1,787 $260,320 $145.67 1 day
23953 Citation Loop Unit 358 Cali 4 2 1,787 $254,800 $142.59 1 day
23972 Citation Loop Unit 373 Ryder 4 2 1,980 $266,800 $134.75 1 day
23963 Citation Loop Unit 357 Cali 4 2 1,791 $254,800 $142.27 1 day
23973 Citation Loop Unit 356 Cali 4 2 1,791 $255,320 $142.56 1 day
653 Fairhope Avenue 3 2 2,062 $575,000 $278.86 1 day
206 North Circle 5 5 4,036 $750,000 $185.83 2 days
27822 Oakachoy Lp 4 3 2,810 $424,900 $151.21 2 days
155 Hawthorne Circle 4 2 2,016 $298,500 $148.07 3 days
10854 Sterling Court 4 3 3,272 $435,000 $132.95 2 days
7878 Pale Moon Ct 3 2 1,915 $278,000 $145.17 2 days
20637 Blueberry Lane Unit 16 3 2 1,214 $170,000 $140.03 2 days
27528 Main Street 3 2 1,380 $497,000 $360.14 2 days
147 Bayview Drive 3 2 2,232 $269,900 $120.92 2 days
103 Meadow Wood Loop 3 2 1,436 $200,000 $139.28 2 days
6411 Beaver Creek Drive 4 3 4,376 $1,448,900 $331.10 2 days
9950 Bromley Road N/A N/A N/A $160,000 Unknown 2 days
30581 Drayton Ct 3 2 1,936 $305,000 $157.54 2 days
6017 Rutherford Lane 3 2 4,166 $1,250,000 $300.05 3 days
8191 Pine Run 5 3 4,200 $599,000 $142.62 2 days
100 Milburn Circle 3 2 2,121 $244,900 $115.46 2 days
5 Lancers Lane 4 3 1,916 $299,000 $156.05 2 days
116 Richmond Road 3 2 2,300 $310,500 $135 2 days
345 Liberty Street 2 2 2,302 $750,000 $325.80 3 days
20550 Lowry Drive 3 2 2,449 $349,000 $142.51 3 days
Park Drive N/A N/A N/A $192,500 Unknown 5 days
21656 Gullfoss Street 4 2 2,122 $309,900 $146.04 3 days
10132 Bay Haven Circle 2 4 2,400 $399,000 $166.25 3 days
24530 Huxford Street 4 2 2,268 $324,900 $143.25 3 days
816 Manci Avenue 3 3 3,063 $799,000 $260.86 4 days
7351 J V Cummings Drive 4 3 5,469 $667,999 $122.14 4 days
9596 Woolrich Avenue 3 2 1,531 $225,000 $146.96 3 days
7216 Twin Beech Road 2 1 924 $159,000 $172.08 4 days
612 College Avenue 4 3 2,752 $445,000 $161.70 3 days
909 Camellia Court 4 2 1,974 $225,000 $113.98 4 days
9785 Terrace Drive 3 2 1,892 $269,900 $142.65 4 days
24 Viale Bellezza N/A N/A N/A $64,900 Unknown 4 days
1208-A Whispering Pines Rd 3 2 1,620 $234,900 $145 4 days
8518 Rockwell Lane 3 2 1,838 $225,000 $122.42 5 days
10489 County Road 1 1 1 640 $959,900 $1,499.84 4 days
8447 Pine Run N/A N/A N/A $30,000 Unknown 8 days
6125 Nelson Drive N/A N/A N/A $725,000 Unknown 5 days
Brick Stack Lane N/A N/A N/A $39,900 Unknown 5 days
571 Dogwood Av 2 2 1,466 $499,000 $340.38 6 days
25766 Chamberlain Drive 4 2 2,250 $360,000 $160 5 days
Lots 2-8 Parker Lane N/A N/A N/A $98,000 Unknown 10 days
146 Montclair Loop 3 2 1,439 $175,000 $121.61 5 days
9683 Silverwood Drive 3 2 2,016 $259,900 $128.92 6 days
33571 Alder Circle 6 5 6,438 $825,000 $128.15 6 days
24847 Smarty Jones Circle Unit 224 4 3 2,363 $338,300 $143.17 6 days
Average: 3.6 2.7 2,770 $388,048 $261 273 days
Viewing 1 - 50 of 658
Viewing 1 - 50 of 658
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
31201 Montalto Court Unit Lot 75 5 3 3,113 $379,207 $121.81 130 days
12686 Warbler Street Unit Lot 307 5 3 3,110 $370,100 $119 48 days
25802 Royal Dr 4 3 2,284 $339,900 $148.82 47 days
349 J Michael St 3 2 1,814 $299,900 $165.33 54 days
9111 Lake View Drive 3 2 2,151 $324,800 $151 27 days
11045 Pontchartrain Loop 3 2 1,500 $210,000 $140 35 days
115 Kentwood Drive 3 2 2,286 $273,900 $119.82 33 days
109 Hanover Drive 3 2 1,507 $186,900 $124.02 40 days
117 Hope Drive 4 2 2,560 $269,900 $105.43 37 days
30443 Pinyon Drive 3 2 1,945 $249,900 $128.48 54 days
705 Culpeo Avenue 4 3 2,435 $474,570 $194.90 240 days
709 Culpeo Avenue 4 3 2,806 $475,087 $169.31 240 days
713 Culpeo Avenue 4 3 2,435 $458,680 $188.37 240 days
717 Culpeo Avenue 4 3 2,687 $474,259 $176.50 240 days
30529 Pine Court 4 2 2,983 $389,000 $130.41 29 days
541 Crackwillow Ave 3 2 1,917 $257,320 $134.23 44 days
16 Woodgrove Cir 3 2 2,400 $389,900 $162.46 119 days
10699 Eastwood Avenue 4 2 1,961 $297,000 $151.45 42 days
31893 Calder Court 3 2 1,904 $249,900 $131.25 42 days
10460 Papas St 4 3 2,962 $475,000 $160.36 25 days
109 Kemper Lane 3 2 2,129 $289,900 $136.17 36 days
102 Cherryhill Drive 3 3 1,711 $229,900 $134.37 32 days
127 Worchester Drive 3 2 2,155 $218,900 $101.58 28 days
31109 Oakleigh Drive 4 2 2,723 $399,500 $146.71 44 days
507 Lake Forest Blvd 4 2 2,503 $275,000 $109.87 32 days
24001 Citation Loop Unit 352 4 2 1,791 $266,000 $148.52 120 days
24065 Citation Loop Unit 344 4 2 2,031 $259,685 $127.86 120 days
24075 Citation Loop Unit 342 4 2 2,031 $241,500 $118.91 120 days
9505 Vargas Ct 4 3 2,785 $367,500 $131.96 121 days
9523 Vargas Ct 5 3 3,113 $372,015 $119.50 137 days
378 Craftsman Avenue 4 3 2,465 $424,900 $172.37 27 days
464 Liberty Street 4 3 3,089 $755,000 $244.42 20 days
414 Bartlett Avenue 4 3 2,517 $425,000 $168.85 32 days
153 Fels Avenue 4 3 2,444 $679,000 $277.82 28 days
11081 Chablis Lane 3 2 1,989 $260,000 $130.72 28 days
474 Ridgewood Drive 3 2 1,614 $199,900 $123.85 32 days
920 Plantation Blvd Unit 13 2 2 1,724 $264,000 $153.13 48 days
9201 Chasewood Place 3 2 1,856 $249,900 $134.64 40 days
8647 Rosedown Lane 3 2 1,844 $290,000 $157.27 56 days
9250 Timbercreek Blvd 4 3 3,223 $485,000 $150.48 35 days
223 Montclair Loop 4 3 1,868 $189,000 $101.18 38 days
16901 Old Pierce Road 3 2 1,750 $250,000 $142.86 35 days
9264 Sanibel Loop 3 2 1,904 $286,900 $150.68 31 days
27672 Rileywood Drive 4 3 2,592 $285,000 $109.95 46 days
30684 Drayton Ct 3 2 1,820 $290,000 $159.34 46 days
413 Frederick Av 3 2 1,992 $350,000 $175.70 35 days
143 Fairway Drive 3 2 2,150 $179,900 $83.67 32 days
17476 Burwick Loop 4 3 2,783 $649,900 $233.52 34 days
25821 Argonne Drive 3 2 1,817 $234,900 $129.28 39 days
9357 Sanibel Loop 3 2 1,710 $265,000 $154.97 29 days
Average: 3.8 2.5 2,385 $368,373 $155 139 days
Viewing 1 - 50 of 691
Viewing 1 - 50 of 691
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
31280 Montalto Court Unit Lot 81 4 3 2,912 $351,674 $351,674 $120.77 0 days 5/7/21
25955 Capra Court 3 2 2,572 $449,900 $499,900 $194.36 38 days 5/7/21
110 Pineridge Dr 4 2 2,002 $179,900 $179,900 $89.86 50 days 5/7/21
27580 Harbor Bluff 4 3 3,902 $650,000 $644,750 $165.24 53 days 5/7/21
34293 Burwood Drive 5 3 3,265 $391,960 $391,960 $120.05 64 days 5/7/21
326 Bronze Street 3 2 1,917 $267,955 $267,955 $139.78 93 days 5/7/21
12904 Warbler Street Unit Lot 317 4 3 2,891 $370,900 $370,900 $128.29 180 days 5/7/21
13102 Ibis Blvd 4 3 2,687 $436,289 $436,289 $162.37 299 days 5/7/21
677 Norman Lane 4 3 2,333 $349,000 $349,000 $149.59 17 days 5/6/21
10125 Bayou Circle N/A N/A N/A $69,000 $69,000 Unknown 21 days 5/6/21
10861 Cresthaven Drive 3 2 2,203 $400,000 $390,000 $177.03 35 days 5/6/21
23636 Devonfield Lane 3 2 1,648 $232,495 $232,495 $141.08 51 days 5/6/21
150 Easton Cir. 5 3 3,115 $499,000 $483,500 $155.22 52 days 5/6/21
8347 Harmon Street 3 2 1,641 $225,000 $230,000 $140.16 55 days 5/6/21
150 Windsor Drive 3 2 2,681 $289,900 $281,000 $104.81 56 days 5/6/21
10967 Sky Lane 4 3 3,233 $389,000 $389,000 $120.32 189 days 5/6/21
137 Worchester Drive N/A N/A N/A $3,800 $3,756 Unknown 721 days 5/6/21
105 Chinquapin Circle N/A N/A N/A $3,800 $3,756 Unknown 721 days 5/6/21
102 McKenzie Drive N/A N/A N/A $3,800 $3,756 Unknown 721 days 5/6/21
9429 County Road 64 N/A N/A N/A $58,350 $45,000 Unknown 85 days 5/5/21
351 Garrison Boulevard 4 3 2,540 $413,357 $420,457 $165.53 215 days 5/5/21
19970 Bunker Loop 3 2 1,923 $309,900 $308,900 $160.63 13 days 5/4/21
103 Windsor Drive 4 2 2,051 $159,900 $173,000 $84.35 20 days 5/4/21
211 Patrician Street 3 2 2,120 $239,900 $230,000 $108.49 22 days 5/4/21
354 Fig Avenue 3 1 1,755 $365,000 $275,000 $156.70 25 days 5/4/21
119 Montclair Loop 3 2 1,568 $188,000 $200,000 $127.55 32 days 5/4/21
30002 D'olive Ridge 5 5 5,000 $649,000 $660,000 $132 51 days 5/4/21
21780 Country Woods Drive 4 3 2,589 $440,000 $430,000 $166.09 62 days 5/4/21
320 Clubhouse Drive 3 2 2,546 $379,000 $379,000 $148.86 64 days 5/4/21
7079 Windmere Place 5 4 4,000 $539,000 $550,000 $137.50 74 days 5/4/21
282 Hemlock Drive Unit Lot 94 5 3 3,132 $510,767 $510,767 $163.08 96 days 5/4/21
Darrah St N/A N/A N/A $60,000 $55,000 Unknown 106 days 5/4/21
316 Bronze Street 3 2 1,833 $270,745 $270,745 $147.71 242 days 5/4/21
Darrah St N/A N/A N/A $54,000 $47,500 Unknown 621 days 5/4/21
23928 Songbird Drive Unit 242 Cali 4 2 1,830 $225,900 $225,900 $123.44 0 days 5/3/21
379 Majestic Beauty Avenue 3 2 2,213 $279,000 $275,000 $124.27 23 days 5/3/21
26651 Fescue Court 3 2 2,267 $285,000 $290,000 $127.92 33 days 5/3/21
12836 Jenkins Pit Rd 4 3 2,848 $480,000 $470,000 $165.03 33 days 5/3/21
375 Francilla Cir 3 2 2,037 $410,000 $450,000 $220.91 38 days 5/3/21
25600 Austin Road 4 3 2,843 $599,000 $550,000 $193.46 46 days 5/3/21
404 Grand Avenue 2 1 871 $249,900 $250,000 $287.03 53 days 5/3/21
115 Sandy Ford Road 5 3 3,337 $624,900 $624,900 $187.26 63 days 5/3/21
30251 D'olive Ridge 6 4 4,750 $849,000 $775,000 $163.16 66 days 5/3/21
24280 Bayshore Drive 4 2 2,044 $564,900 $564,900 $276.37 83 days 5/3/21
Mary Ann Beach Road N/A N/A N/A $95,000 $100,100 Unknown 112 days 5/3/21
25806 Pollard Road Unit 9 3 2 1,551 $168,000 $163,000 $105.09 174 days 5/3/21
24185 Alydar Loop Unit 166 5 3 2,197 $280,800 $286,850 $130.56 207 days 5/3/21
19825 Quail Creek Drive 3 2 1,868 $250,000 $235,000 $125.80 209 days 5/3/21
12222 Lone Eagle Dr 4 2 2,491 $349,500 $347,500 $139.50 405 days 5/3/21
8501 Pine Run 5 4 3,824 $540,000 $540,000 $141.21 0 days 4/30/21
Average: 3.7 2.4 2,351 $330,709 $324,029 $149 142 days
Viewing 1 - 50 of 1596
Viewing 1 - 50 of 1596

© 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 .