Eastern Shore Housing Activity Update

On the Eastern Shore of Mobile Bay, the community of Spanish Fort saw 8 homes sold in April for an average price of $222,312 ($111.15/ sq ft). One year ago, there were 13 sold for $238,114 ($104.14/ sq ft). Although values have dropped  some, the declines are minimal compared to most other areas locally and certainly nationwide. Surprisingly, days on the market actually got quicker from 106 in April 2008 to ony 60 days for homes sold last month!

There are 395 single family homes for sale in Daphne, with listings averaging $308,657 and $119.12/ sq ft. These are optimistic list prices, as April saw 19 homes sold for an average price of $204,205 ($90.23/sq ft) and 163 days on the market. Compare this with April 2008, when 29 homes sold for an average of $220,865 and $104.46/ sq ft. and 111 days on the market.   Dapne has one of the largest inventories of lovely homes available in the Mobile Bay area, and Barbara Reeves can help guide you into just the right one for you!

The City of Fairhope has a very large inventory, also, with 392 homes for sale. The average list price is $474,005 ($169.93/ sq ft) and these are averaging 160 days on the market. Twelve homes sold in April 2009 for an average of $185,208 or $99.87/ sq ft. Homes that sold spent 279 days on the market, or nine months! In April 2008, there were fifteen sales averaging $407,150 ($152.57/ sq ft).  This is a drop in value of one third. Higher priced homes are simply staying on the market longer and longer with the more affordable homes selling.  The charm and natural beauty of Fairhope have not diminished one bit, and this is an excellent time to enter the market.