The first quarter of 2007 has followed the national trend of a soft market. While we here in South Alabama are experiencing some of the same slow markets common in other parts of the United States, we have so much new industry relocating to the area in order to take advantage of the low cost of living and skilled work force that we expect a "soft" landing and quick rebound of the real estate market. Twenty three homes sold in Spanish Fort in the first quarter with an average sales price of $276,256. and a median sales price of $258,000. Eleven homes expired without selling and nine homes were withdrawn from the market by the sellers. The absorbtion rate for Spanish Fort for the first quarter is 8.7 meaning there was 8.7 months of inventory on the market. The absorbtion rate in Spanish Fort is higher because of the number of new properties being built at present.

For the second quarter Spanish Fort real estate made a dramatic recovery with 48 homes sold with an average sales price of $280,826 and a median sales price of $279,750. Eleven homes expired without selling and nine were withdrawn from the market. The absorbtion rate for the second quarter is 4.17 less than half what it was for the first quarter, however it is still higher than other areas because of all of the new construction. Data for this article is obtained by Barbara Reeves from the Mobile Gulf Coast MLS and is deemed to be accurate but not guaranteed.