Daphne Property Sales Surge in July

In July, 42 homes sold in Daphne with an average sales price of $300,766, 29% higher than June’s average! The median sales price of $228,450 is up 7.5%. These homes averaged 116 days on the market before selling. It took a few days longer, but most would say it’s worth waiting for these strong sales prices.

The number of homes that are currently under contract in Daphne is 42 with an average sales price of $285,181. This is an 11% drop from June, when there was a whopping 17% increase over May, so prices are still stronger than they were in the Spring. The median price point of $251,400 is 9% higher than in June. Homes under contract were on the market for an average of 139 days.

The summer high season is upon us, with many families making job transfers and relocations to our area. The number of homes on the market has risen to the point where buyers have many choices, not like it was a couple of years ago when inventory was very low. It is a full fledged strong Buyer’s market. As economic growth increases with new industry coming to the metro area, inventory will not stay this large for long.