Fairhope Home Sales Taking a Hit

Real estate sales in this very popular Southern city have been hit quite hard by the shaky economy. In January 2009, nine homes sold, compared with eleven in January 2008. The big difference is in the average sales price of $254,947 compared with $399,700 one year ago. That translates to $109.30 per square foot compared with $146.41 last year. The median has dropped comparably, as well, from $360,000 in January 2008 to $225,000 last month.  These homes are also spending nearly twice as long on the market than they were a year ago – up to 226 days compared with 117 in 2008. On the bright side, for buyers there are so many lovely homes available now – 410 on the market in January. See them at www.barbarareevesrealtor.com or call Barbara at the link at the top of this page.