July 2009 home sales, pendings show stability, except pricing
By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
Home sales statistics on the Eastern Shore of the Mobile Metro area continue to show signs of a stabilizing market, though Realtors generally believe home prices continue to fall. Both home sales and pending sales in Spanish Fort, Daphne and Fairhope/Point Clear showed slight increases over June, 2009. Yet, 20 percent of home sellers reduced prices in July alone to move property. Seventy-six homes sold in July, up from 73 that sold in June. Pending sales remain encouraging with 162 single-family residences under contract, up from 157 in June. There was a little erosion in the list-to-sale percentage which fell from 96.21% in June to 95.88% in July. Here are the stats for the Eastern Shore in July, 2009:Total houses for sale: 1,214Spanish Fort: 147Daphne: 372Fairhope: 562Lake Forest:...
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