Fairhope market was soft in the first quarter as was almost all markets but it has began it’s rebound in the second quarter with ninty six homes sold in the second quarter with an average home price of $341,815 and a median sales price of $263,750. Fifty two homes were withdrawn and 45 homes expired without selling in Fairhope in the second quarter of 2007. The absorbtion rate for the second quarter of 2007 in Fairhope is 4.32, meaning that there is 4.32 months of inventory on the market.

The first quarter of the real estate market for Fairhope had sixty seven homes that sold with an average sales price of $315,917 and a median sales price of $259,900. Forty four homes were withdrawn from the market without selling and fifty two homes expired. The absorbtion rate for Fairhope in the first quarter was 6.19 meaning there was 6.19 months of home inventory on the market. Data for this article is obtained by Barbara Reeves from the Mobile Gulf Coast MLS and is deemed to be accurate but not guaranteed.