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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 Highway 104 N/A N/A N/A $137,500 Unknown 2 days
12 Mccue Circle 3 2 2,403 $319,900 $133.13 0 days
6612 Willow Bridge Drive 4 3 2,700 $499,900 $185.15 0 days
32121 Weatherly Cove 4 3 4,096 $525,000 $128.17 0 days
20637 Blueberry Lane Unit 26 3 2 1,214 $174,900 $144.07 0 days
32720 Wildflower Trail 4 3 2,750 $442,000 $160.73 0 days
20515 Lowry Drive 3 2 1,616 $275,000 $170.17 0 days
1469 Pollard Road 2 2 1,114 $179,900 $161.49 0 days
15 Parma Drive 2 2 1,537 $139,000 $90.44 0 days
104 Everade Circle 3 2 1,814 $275,000 $151.60 0 days
9828 Chariot Avenue 3 2 1,566 $265,000 $169.22 1 day
116 Spanish Main 3 2 1,744 $175,000 $100.34 1 day
18 Summer Oaks Drive 2 1 1,146 $148,000 $129.14 1 day
23333 Shadowridge Dr 4 2 1,787 $269,364 $150.74 1 day
19815 Bunker Loop 3 2 1,903 $369,000 $193.90 1 day
6618 Spaniel Drive Unit 49-A 2 2 1,176 $195,000 $165.82 3 days
27609 Rileywood Drive 4 3 3,175 $359,000 $113.07 1 day
8406 Weatherford Court 4 2 2,533 $345,000 $136.20 2 days
15992 Bird Watch Lane 3 2 2,390 $579,000 $242.26 3 days
452 Ivy Circle 3 2 2,462 $599,000 $243.30 2 days
27450 Elise Court 3 2 1,734 $259,900 $149.88 4 days
30640 Morris Lane N/A N/A N/A $1,800,000 Unknown 2 days
17472 Pandion Ridge Unit 17472 3 2 1,452 $250,000 $172.18 3 days
29991 Gregor Street 3 2 1,634 $243,500 $149.02 3 days
13130 Mary Ann Beach Road 5 3 5,250 $1,250,000 $238.10 2 days
10302 Solon Court 3 2 2,021 $296,740 $146.83 2 days
210 S Mobile Street Unit 3 1 1 622 $269,900 $433.92 3 days
7615 Freshwater Drive 4 2 2,295 $335,000 $145.97 2 days
23889 Montrose Woods Drive 4 3 3,154 $385,000 $122.07 3 days
134 Donna Circle 3 2 2,296 $269,000 $117.16 3 days
857 Lafayette Drive 4 3 2,670 $475,000 $177.90 3 days
652 Norman Lane 4 3 2,880 $455,000 $157.99 3 days
17351 Wildwood Court 4 3 3,844 $1,430,000 $372.01 3 days
18103 Scenic Highway 98 8 8 5,148 $2,500,000 $485.63 8 days
Whispering Pines Rd N/A N/A N/A $64,900 Unknown 4 days
9503 Diamante Blvd 4 3 2,785 $385,450 $138.40 4 days
105 N Fairhope Court Unit 4 3 2 2,085 $450,000 $215.83 5 days
175 Lakeview Loop 3 2 1,267 $150,000 $118.39 5 days
29956 St Helen Street 4 3 2,745 $369,000 $134.43 6 days
149 Ornate Avenue 4 3 2,359 $405,881 $172.06 6 days
Nancy Loop N/A N/A N/A $125,000 Unknown 6 days
30515 Laurel Ct 5 4 3,415 $539,500 $157.98 6 days
23390 Shadowridge Dr 3 2 1,641 $267,900 $163.25 6 days
28019 Annabelle Lane 4 3 2,731 $369,900 $135.44 6 days
104 Chinquapin Circle 3 3 2,046 $249,000 $121.70 6 days
145 Ornate Avenue 4 3 2,339 $400,863 $171.38 6 days
24475 Tepin Lane 3 2 1,641 $284,900 $173.61 6 days
720 Culpeo Avenue 4 3 2,444 $474,733 $194.24 6 days
220 Fennec St 4 3 2,806 $499,438 $177.99 6 days
200 Parma Drive Unit R2 3 2 1,378 $160,000 $116.11 7 days
Average: 3.7 2.7 2,750 $412,798 $226 240 days
Viewing 1 - 50 of 713
Viewing 1 - 50 of 713
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
23962 Citation Loop Unit 374 4 2 1,791 $287,320 $160.42 54 days
10711 Brodick Loop 3 2 1,517 $219,185 $144.49 28 days
504 Charing Cross Street 3 2 2,013 $305,000 $151.52 30 days
20114 River Mill Drive 3 2 1,625 $235,000 $144.62 46 days
101 Pebble Court 4 3 3,206 $735,000 $229.26 25 days
11471 Alabaster Drive 4 3 2,471 $350,000 $141.64 27 days
202 S Bradbury Circle 3 3 1,994 $219,950 $110.31 47 days
26632 Montelucia Way 4 3 2,950 $400,000 $135.59 62 days
250 Montclair Loop 3 2 1,262 $159,900 $126.70 21 days
12878 Saddlebrook Circle 4 4 4,383 $649,000 $148.07 16 days
138 Fairway Drive 3 2 1,900 $210,000 $110.53 33 days
24593 Slater Mill Road 4 2 1,798 $305,170 $169.73 60 days
8605 Rosedown Lane 3 2 2,019 $345,000 $170.88 46 days
8 Fox Run 4 2 2,164 $324,900 $150.14 77 days
6081 Nelson Drive 3 3 3,373 $1,100,000 $326.12 75 days
101 Beechwood Circle 3 2 1,764 $184,900 $104.82 33 days
17476 Scenic Highway 98 5 4 5,139 $1,195,000 $232.54 49 days
9997 Dunleith Loop 4 2 2,636 $340,365 $129.12 89 days
28450 Rigsby Rd 3 2 1,758 $350,000 $199.09 54 days
9524 Camberwell Drive 4 2 2,626 $365,375 $139.14 50 days
9532 Camberwell Drive 4 3 3,013 $412,810 $137.01 138 days
386 Lambton Street 5 4 2,826 $485,000 $171.62 32 days
10320 Papas St 3 3 2,769 $499,900 $180.53 34 days
8825 Pine Run 4 3 2,900 $443,000 $152.76 33 days
9508 Collier Loop 3 2 1,718 $269,900 $157.10 47 days
11215 Forest Ct 3 2 2,236 $369,000 $165.03 49 days
218 North Circle 5 3 4,217 $729,000 $172.87 44 days
9981 Dunleith Loop 4 2 1,986 $270,230 $136.07 36 days
560 Southern Run 3 2 1,767 $345,000 $195.25 95 days
11602 Lisa Court 4 2 2,479 $365,000 $147.24 34 days
411 Swaying Willow Avenue 4 2 2,505 $399,900 $159.64 49 days
110 Lawson Road 4 2 1,666 $199,000 $119.45 41 days
9657 Czar Court 3 2 1,895 $275,000 $145.12 34 days
595 Crackwillow Ave 3 2 1,833 $263,870 $143.96 20 days
200 Parma Drive Unit F4 3 2 1,477 $165,000 $111.71 32 days
353 Bronze Street 3 2 1,936 $280,405 $144.84 17 days
10658 Brodick Loop 3 2 1,648 $235,500 $142.90 21 days
9965 Dunleith Loop 4 2 2,204 $288,925 $131.09 50 days
104 Lawson Road 3 2 1,434 $164,900 $114.99 27 days
24756 Smarty Jones Circle 4 3 2,785 $394,900 $141.80 36 days
23339 Shadowridge Dr 4 2 1,787 $276,864 $154.93 68 days
23345 Shadowridge Dr 4 2 1,787 $276,864 $154.93 61 days
24209 Affirmed Avenue Unit 332 4 2 2,306 $345,455 $149.81 66 days
9661 Volterra Avenue Unit 33 4 2 2,097 $310,230 $147.94 61 days
24259 Affirmed Avenue Unit 327 Camden 5 3 2,785 $371,500 $133.39 66 days
9601 Volterra Avenue Unit 43 4 2 1,798 $300,170 $166.95 61 days
9631 Volterra Avenue Unit Lot 38 4 2 1,948 $305,142 $156.64 61 days
105 Montclair Loop 3 2 1,522 $249,000 $163.60 48 days
24917 Yawley Drive 4 3 2,785 $432,500 $155.30 33 days
162 Club Drive 3 2 2,041 $284,900 $139.59 38 days
Average: 3.8 2.5 2,390 $401,539 $504 131 days
Viewing 1 - 50 of 563
Viewing 1 - 50 of 563
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
261 Silo Loop 5 3 3,175 $389,000 $389,500 $122.68 41 days 8/5/21
Leavie Lane N/A N/A N/A $129,500 $129,500 Unknown 430 days 8/5/21
30466 Middle Creek Circle 4 3 3,227 $490,000 $490,000 $151.84 32 days 8/4/21
8108 Irwin Loop Unit 179 Cali 4 2 1,787 $216,075 $216,075 $120.91 0 days 8/4/21
31300 Montalto Court Unit lot 83 4 3 2,912 $367,049 $367,049 $126.05 2 days 8/4/21
18204 Quail Run 5 4 3,907 $1,350,000 $1,350,000 $345.53 0 days 8/4/21
108 Keplar Place 4 3 2,600 $525,000 $518,000 $199.23 35 days 8/4/21
102 Hope Drive 3 2 2,086 $208,900 $202,900 $97.27 69 days 8/4/21
31616 Shambo Road 3 2 2,168 $360,000 $355,000 $163.75 96 days 8/4/21
8036 Irwin Loop Unit 167 Aria 3 2 1,641 $243,000 $243,000 $148.08 149 days 8/4/21
8120 Irwin Loop Unit 181 Cali 4 2 1,791 $268,000 $268,000 $149.64 201 days 8/4/21
102 Club Drive 3 2 1,411 $225,000 $225,000 $159.46 0 days 8/3/21
8816 Longue Vue Blvd 4 3 2,687 $432,000 $432,000 $160.77 0 days 8/3/21
345 Bronze Street 4 2 1,986 $284,930 $284,930 $143.47 15 days 8/3/21
30985 Wakefield Drive 4 3 2,925 $359,900 $340,000 $116.24 42 days 8/3/21
24938 Spectacular Bid Loop Unit 128 4 3 2,785 $337,575 $337,575 $121.21 59 days 8/3/21
1070 N Sea Cliff Drive Unit 1070 1 1 538 $99,900 $99,900 $185.69 0 days 8/2/21
841 Summer Lake Street 3 3 2,895 $498,900 $498,900 $172.33 34 days 8/2/21
10311 Estia Street 3 2 1,568 $255,000 $255,000 $162.63 41 days 8/2/21
321 Bloomsbury Avenue 4 2 1,675 $274,900 $274,900 $164.12 46 days 8/2/21
31635 Shambo Road 5 3 3,047 $449,000 $455,000 $149.33 66 days 8/2/21
101 Paddock Drive 3 2 1,386 $399,000 $394,000 $284.27 67 days 8/2/21
19135-A Scenic Highway 98 4 3 2,115 $400,000 $400,000 $189.13 73 days 8/2/21
9126 Huckleberry Drive 3 2 1,858 $299,900 $300,000 $161.46 74 days 8/2/21
16924 Provencher Road 2 1 1,000 $298,750 $298,750 $298.75 82 days 8/2/21
33571 Alder Circle 6 5 6,438 $850,000 $830,000 $128.92 91 days 8/2/21
8096 Irwin Loop 4 2 1,980 $253,400 $260,000 $131.31 129 days 8/2/21
9610 Volterra Avenue 4 2 1,954 $264,142 $264,142 $135.18 164 days 8/2/21
849 Geranium Drive 3 2 1,811 $530,938 $530,938 $293.17 160 days 8/2/21
15089 Scenic Highway 98 2 2 1,000 $1,580,000 $1,580,000 $1,580 21 days 7/30/21
10710 Orkney Way 4 2 1,892 $246,705 $246,705 $130.39 22 days 7/30/21
00 Greenbrier Lane N/A N/A N/A $220,000 $208,500 Unknown 25 days 7/30/21
134 Montclair Loop 3 2 1,668 $199,900 $195,000 $116.91 31 days 7/30/21
31138 Peregrine Dr 4 3 2,377 $375,000 $390,000 $164.07 35 days 7/30/21
165 Montclair Loop 3 2 1,350 $179,900 $185,000 $137.04 39 days 7/30/21
4 Yacht Club Drive Unit 78 3 2 1,680 $184,900 $191,900 $114.23 45 days 7/30/21
710 S Mobile Street Unit 34 2 2 1,950 $350,000 $345,000 $176.92 50 days 7/30/21
9074 North Court 4 3 4,334 $649,000 $646,000 $149.05 51 days 7/30/21
10286 Shetland Drive 4 2 1,830 $245,000 $242,000 $132.24 52 days 7/30/21
9227 Brookshire Loop 3 2 1,624 $225,000 $220,000 $135.47 53 days 7/30/21
458 Jan Drive 3 3 1,834 $399,000 $375,000 $204.47 57 days 7/30/21
214 Driftwood Avenue 3 2 2,050 $247,500 $247,500 $120.73 58 days 7/30/21
106 Vega Circle 3 2 2,001 $254,900 $254,900 $127.39 63 days 7/30/21
224 Tracy Circle 4 2 1,934 $249,900 $235,900 $121.98 60 days 7/30/21
6 Porch Place Way 4 2 1,701 $320,000 $320,000 $188.12 64 days 7/30/21
11834 County Road 48 3 2 1,893 $298,800 $298,800 $157.84 66 days 7/30/21
25784 Chamberlain Drive 4 3 2,626 $365,000 $365,000 $138.99 73 days 7/30/21
27536 Hobby Horse Lane 4 2 2,278 $289,900 $295,900 $129.89 78 days 7/30/21
812 Pinewood Court 3 2 2,850 $464,000 $433,000 $151.93 83 days 7/30/21
16 Woodgrove Cir 3 2 2,400 $389,900 $400,000 $166.67 87 days 7/30/21
Average: 3.6 2.4 2,347 $351,893 $347,446 $158 117 days
Viewing 1 - 50 of 1928
Viewing 1 - 50 of 1928

© 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 .