February was a difficult month nationwide for housing, and Mobile County was not exempt. In the Springhill/ USA area, February saw 11 homes sold for an average of $175,695 ($112.22/sq ft). This is a 24% drop from January. Nineteen pending sales averaging $265,643 ($94.04/ sq ft) is a significant drop from January’s $300,738 average ($113.57/ sq ft).

The Downtown/ Midtown area of Mobile held its own in February, with the average sold home actually increasing from $99,497 ($61.24/ sq ft) in January to $126,449 or $72.59/ sq ft! Values of homes pending sale rose slightly from an average of $104,740 in January to $110,696 in February.

The best news here is clearly for buyers…time to get off the fence and take advantage of prime conditions for homebuying. You have large inventory, low prices and tax incentives! Contact Barbara S. Reeves, REALTOR, to assist you in finding your dream home in Mobile County!

List prices for Daphne homes on the market and those pending sale were pretty steady compared with January figures. Sold homes, however, dropped from an average of $220,071 (or $99.89/ square foot) to $191,312 in January ($82.13/sq foot). This represents a fifteen percent loss in one month; certainly something that has not and should not become a trend. On the positive side of the ledger, these sold homes spent 99 days on the market as compared with 126 days in January. With the national housing scene as chaotic as it is, Mobile and the Eastern Shore have done relatively well. We’ll keep our eyes on activity in March to see how this Spring shapes up. It is a great time to view the inventory of available homes with prices so low and the selection so good!

In January 2009, homes sold in Spanish Fort averaged only 81 days on the market, slower only than the Municipal Park and West Mobile County areas.  The seven homes sold in January averaged $152,357 or $76.31/ square foot. There are currently 117 homes on the market with an average list price of $344,717 or $121.15/ square foot. They have spent 111 days on the market.  Please visit www.barbarareevesrealtor.com if you are interested in learning more about Spanish Fort and its housing market.

The area encompassing West Mobile and Semmes saw the most activity within Mobile and Baldwin Counties in January 2009. With 30 homes sold and 79 contracts pending, this area is relatively fast-paced compared with surrounding communities. Sold prices averaged $204,331 or $94.01/ square foot and spent 106 days on the market. There were 475 homes on the market with an average list price of $233,039 or $96.47/ square foot. Barbara S. Reeves knows this area very well and can show you many lovely homes or you can view them on your own at www.barbarareevesrealtor.com.

Its nomination recently as the second nicest small town in the South is reflected in Fairhope’s ability to hold onto real estate value, with 2008 average home sales prices dropping by only 1.5%.  The price per square foot dropped 7% and the total number of sales dropped dramatically by 47%. So fewer homes sold, but they are holding their values better than in many other areas, including other Baldwin County communities. Many potential home buyers have been on the fence this past year, with uncertainty in the marketplace. The plentiful home inventory and very low interest rates should motivate those to get off the fence and take advantage of the situation. BarbaraReevesRealtor.com can show you a variety of lovely homes in Fairhope as well as links to other important information.

In Spanish Fort, the number of homes sold in 2008 dropped almost 17% from 2007′s activity. This is comparable with the Baldwin County overall numbers.  The average sales price, however, dropped by only 2% in a year that saw many cities losing value in the double digits.  Spanish Fort continues to be a popular area for our newcomers who relocate to our area for employment opportunities. BarbaraReevesRealtor.com offers community information as well as information about every aspect of Spanish Fort real estate.  With great inventory and historically low interest rates, now is the time to make that move you’ve been considering for so long!

Daphne

It is no surprise that there were fewer homes sold in Daphne in 2008 compared with 2007. The average price per square foot of living space dropped by 5.6% and the average sales price is down by 5%. Compare these figures with the rest of the U.S. According to Case-Shiller’s 20-city index in November, prices dropped 18.2% on an annual basis.  Going back to the high price point in July 2006, homes in these 20 cities have lost up to 25% of their value. Phoenix, San Francisco and Las Vegas have each lost more than 30% in the last year.  The bright side is that with both home prices and interest rates low, renters and others who have been on the fence, can finally buy a home with a lower mortgage payment than they previously dreamed of. BarbaraSellsDaphne.com has all the listings in Baldwin and Mobile Counties for your viewing. Or give Barbara a call on the Click to Talk button!  

Baldwin County saw a total of 1109 home sales in 2008, compared with 1312 sales in 2007. This is a drop of 15.5% in the volume of sales transactions. Average price per square foot of living space dropped by nearly 14% during the year. The time spent on the market surprisingly dropped in the 4th quarter after spiking in the 3rd quarter of the year.  However, the number of sales, the average price per square foot and average sales price all saw dramatic drops during the last 3 months of 2008.

It has been a bumpy ride, but with interest rates at historic lows and the inventory of homes so high, consider getting off the fence and taking advantage of conditions to make your homebuying decision. barbarareevesrealtor.com has all the listings in Baldwin County to help you find your perfect home at a very competitive price!

Quarter	Homes sold	Average $/SF	Average Price	Average Days on Market
Q1	236	$119.58	$228,003	120
Q2	319	$120.65	$243,997	126
Q3	333	$118.06	$253,984	137
Q4	221	$105.07	$220,093	108

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October 2008 MLS statistics in Fairhope AL show 16 homes have sold in Fairhope with an average sales price of $268,516. This represents a drop of just over 4% from September. The median sales price of $261,250 has recovered significantly from September which saw a big drop from August. Days on the market averaged 174 days for sold homes, 40 days more slowly than last month.

The number of homes that are presently under contract in Fairhope is 19, with an average sales price up 2% to $384,813. The median price point has leveled out at $356,055. These homes averaged 201 days on the market, a bit quicker than the huge 233 days on the market in September.