Summary for the sale of homes on the Gulf Coast Of Alabama in the cities of Daphne, Fairhope, Mobile and Spanish Fort in March!

This summary is from the Gulf Coast MLS data from March 1, 2007 to April 1, 2007 and is believed to be correct but is not guaranteed.

During the month of March 43 homes sold in Daphne for an average price of $231,823. and a median price of $205,000. Presently there are 347 homes on the market for sale in Daphne with an average price of $344,065. and a median price of $279,900. Presently 73 homes are pending in Daphne with an average price of $258,940. and a median price of $237,900. Median price means that this is the midpoint where there is an equal amount of homes below that price as above. If I count the pending homes this gives an absorbtion rate of 3 meaning there is 3 months worth of inventory on the market.

During the month of March 23 homes sold in Fairhope for an average price of $300,171. and a median price of $265,500. Presently there are 382 homes on the market for sale in Fairhope with an average price of $422,961. and a median price of $324,950. Presently 51 homes are pending in Fairhope with an average price of $492,673. and a median price of $379,000. Median price means that this is the midpoint where there is an equal amount of homes below that price as above. If I count the pending homes this gives an absorbtion rate of 5 meaning there is 5 months worth of inventory on the market.

During the month of March 8 homes sold in Spanish Fort for an average price of $254,529. and a median price of $251,500. Presently there are 181 homes on the market for sale in Spanish Fort with an average price of $609,003. and a median price of $561,590. Presently 10 homes are pending in Spanish Fort with an average price of $256,650. and a median price of $249,900. Median price means that this is the midpoint where there is an equal amount of homes below that price as above. If I count the pending homes this gives an absorbtion rate of 10 meaning there is 10 months worth of inventory on the market.

During the month of March 63 homes sold in the Downtown/Midtown area of Mobile for an average price of $101,173. and a median price of $82,800. Presently there are 371 homes on the market for sale in Downtown/Midtown area of Mobile  with an average price of $149,380. and a median price of $99,900. Presently 110 homes are pending in Downtown/Midtown area of Mobile  with an average price of $128,698. and a median price of $103,500. Median price means that this is the midpoint where there is an equal amount of homes below that price as above. The absorbtion rate for the Downtown/Midtown area of Mobile  is almost 6 meaning there is almost 6 months worth of inventory on the market.

During the month of March 22 homes sold in the Springhill/USA area of Mobile for an average price of $206,834. and a median price of $141,500. Presently there are 114 homes on the market for sale in the Springhill/USA area of Mobile with an average price of $377,660. and a median price of $199,900. Presently 21 homes are pending in the Springhill/USA area of Mobile  with an average price of $257,069. and a median price of $164,900. Median price means that this is the midpoint where there is an equal amount of homes below that price as above. The absorbtion rate for the Springhill/USA area of Mobile  is a little over 5 meaning there is over 5 months worth of inventory on the market.

During the month of March 55 homes sold in the Cottage Hill area of Mobile for an average price of $209,971. and a median price of $143,000. Presently there are 236 homes on the market for sale in the Cottage Hill area of Mobile with an average price of $214,426. and a median price of $169,900. Presently 88 homes are pending in the Cottage Hill area of Mobile  with an average price of $193,815. and a median price of $160,040. Median price means that this is the midpoint where there is an equal amount of homes below that price as above. The absorbtion rate for the Cottage Hill area of Mobile  is a little over 4 meaning there is over 4 months worth of inventory on the market.

During the month of March 75 homes sold in the Airport/West Mobile area of Mobile for an average price of $193,860. and a median price of $177,475. Presently there are 386 homes on the market for sale in the Airport/West Mobile area of Mobile with an average price of $267,784. and a median price of $229,900. Presently 132 homes are pending in the Airport/West Mobile area of Mobile  with an average price of $208,233. and a median price of $163,400. Median price means that this is the midpoint where there is an equal amount of homes below that price as above. The absorbtion rate for the Airport/West Mobile area of Mobile  is a little over 5 meaning there is over 5 months worth of inventory on the market.

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