Single family residential sales in Fairhope, Alabama see to be on the rise. In May, sales were up just a few percent above May 2010, but median prices increased 17%. That’s the first we’ve seen of increasing values – hopefully indicating that the bottom of this market is in our rearview mirror! YTD, prices are flat (due to declines for the first four months of the year), but sales are up 31% (Fairhope sales were up 30% in 2010 from 2009 as well).
So, while we’re not out of the woods yet – there is some good news out there. Other areas of Baldwin County aren’t rebounding quite as well, but they are showing signs of improvement. This includes the beaches – were YTD condo sales are up 11% from 2010 and median prices are down 6%. Since there were nearly zero condo sales from May – December 2010 (due in large part to the oil spill and the unrelenting negative press that it brought), I think that beach condo sales will end up being up nearly 50% over last year when all is said and done.
As always, if you’d like more information on the Fairhope, Orange Beach, Gulf Shores, Daphne or Baldwin County markets, or on specific properties down here, feel free to email me at Terryl@FairhopeRealtyGroup.com; or call me at 251-990-8838.You can also visit my web-site and search the MLS on your own at
www.FairhopeHomeSearch.com.
