The first quarter of 2007 got off to a slow start in Daphne, Alabama with 373 homes on the market listed for sale. Seventy eight homes were under contract pending close at the end of the period with an average sales price of $278,073 and a median sales price of $238,900. Thirty six homes expired without selling with an average listing price of $305,290 and a median listing price of $306,950. Fifty two homes were withdrawn from the market for various reasons. One hundred twenty homes hit the jackpot and were sold with an average sales price of $237,634 and a median sales price of$219,450. The absorbtion rate for the first quarter is 3.11 meaning that with the present inventory of homes on the market we have 3.11 supply of homes. I arrived at this figure by dividing the number of active listings on the market in Daphne by the number that sold. 

Data for the second quarter of 2007 for the real estate market in Daphne, Alabama shows the market heating up for a hot summer. One hundred and thirty nine homes sold with an average sales price of $266,153 and a median sales price of $235,000. Forty homes expired without selling with an average sales price of $336,484 and a median sales price of$244,950. Seventy nine homes were withdrawn from the sales market without selling. The absorbtion rate for the second quarter is 2.68 meaning there is 2.68 months of inventory of homes on the market in Daphne. My feeling is that we are at the bottom of the curve and homes will begin to increase in price in the near future because of all of the economic activity. Data for this article is obtained by Barbara Reeves from the Mobile Gulf Coast MLS and is deemed to be accurate but not guaranteed.