Most people involved in Real Estate and construction are glad to see 2009 in the rear view mirror. Although the year was pretty rough on most of us, most have sensed an increased optimism over the past few months. Terryl Reeves of the Fairhope Realty Group did a little research from the MLS for Fairhope, and I thought I’d share it with you all.

In late 2009, the Baldwin County MLS showed 264 residential single family dwellings closed for the city of Fairhope , Alabama for 2009 (31 currently pending); of those 76 (29%) were over $300K.

For comparison, 2008 had 294 closed sales with 115 (39%)over $300K and 2007 had 402 closed sales with 171 (42.5%) over $300K.

The encouraging numbers for 2009 are the past several week’s activity. From January through September there were 207 closed sales with 61 (30%) over $300K; October had 24 sales with only 3 over $300K (12.5%); November had 19 sales with 4 (21%) over $300K; to date, December has had 14 closed sales with 8 (57%) over $300K. Again, we have 31 pending contracts with 30% of thoses listed above $300K.

So it seems that there is some pent-up demand for the higher end that is finally coming out. It gives us all optimism for that part of the market for 2009.

Thanks to Terryl for his work. If you have any questions feel free to email him at Terryl@FairhopeRealtyGroup.com; or call me at 251-990-8838.

Fairhope, Alabama 2009 Sales Report

This entry was posted on Wednesday, January 6th, 2010 at 11:05 pm and is filed under Riverton Land News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.