Fairhope got a great start to 2015, with 164 single-family homes sold in the first quarter! I think this is fairly significant news considering that 116 homes closed in the first quarter of the prior year in Fairhope. We will take a closer look at the additional sales data for a more precise indication of where the local real estate market is headed. Let’s focus the majority of our attention on the average sales price, the average sold price per square foot and the average number of days on market, in our comparison of the 1st quarter stats for 2014 v. 2015. In the first quarter of 2015, the average sales price increased nearly $21,000 to $286,610. The average sold price per square foot also rose in 2015 by $3.13 to $120.07. The average days on market is still hovering in “buyers market” territory at 170 days in 2015, versus 173 days in the first quarter of 2015. In terms of the days on market, I think the number of folks re-entering the market for the spring selling season is always going to have a strong influence on the data.
Now I will break down the top achievers in terms of the best selling Fairhope subdivisions in the 1st quarter of 2015. It probably won’t surprise many people reading this blog, especially if they are local, to hear that D.R. Horton’s new construction subdivisions are at the top of the leader board, with Magnolia Commons in 1st Place and Woodlawn in a tie for 3rd place. Both subdivisions are reporting very strong sales and average days on market numbers that reflect more of a “buyers market” environment.
- 9 Sales
- Average Sales Price $180,301
- Average Sold Price Per Square Foot $119.37
- Average Days on Market 106
- 5 Sales
- Average Sales Price $185,380
- Average Sold Price Per Square Foot $98.70
- Average Days on Market 66
Below is a video the Jason Will Real Estate Team had professionally produced for one of our premiere listings in Rock Creek.
Rock Creek is in second place, with a total of 7 homes closed in the first quarter of 2015, which proves that Rock Creek’s popularity with young families, as well as retirees, has not diminished a bit. The subdivision has so much to offer, in terms of the beauty of landscape, top rated championship golf course and stunning custom homes. If we included the 2 first quarter sales for adjacent Sandy Ford subdivision, then Rock Creek would be tied for first place. Many folks seem to consider Sandy Ford to be an extension or Rock Creek, as you don’t have to leave one subdivision to get to another.
- 7 Sales
- High Sales Price $879,900
- Average Sold Price Per Square Foot $120.59
Old Battles Village ended the first quarter of 2015 tied with Woodlawn by D.R. Horton. Yet, in the opinion of the sales staff of the Jason Will Real Estate Team, which recently toured the available spec homes, Truland Homes builds a higher quality product. We were impressed on our tour with the interior, as well as the exterior finishes of the homes. The custom cabinetry, produced locally in Mobile, was one of our favorite interior amenities, in addition to high quality granite countertops throughout. I was also impressed with the exterior wood ceilings used at the entry, as well as the rear porches of the majority of the move-in ready homes we toured on our caravan of the community. Although, the community is in the J. Larry Newton Elementary School District, which is slightly less sought after than Fairhope Elementary and the soon to be re-opened K-1 Center, the subdivision is right around the corner from all the fabulous amenities of Lakewood, to include: golf, tennis, fitness center, kids water slide, outdoor pool and private lake with its own sandy beach, for a more authentic tanning experience.
Old Battles Village
- 5 Sales
- Average Sales Price $296,082
- Average Sold Price Per Square Foot $121.49
- Average Days on Market 122
If you notice above the highest sales price reported for Rock Creek in the first quarter was $879,900, which I thought was great news for our luxury home sellers in the Fairhope area, many of home have been waiting for years for the right buyer to come along. This shows me, along with some other bay front home sales occurring in the million dollar plus range, that consumer confidence is truly getting stronger with each report of positive economic news. Thus, I thought it was also important to take a quick look at The Waters at Fairhope, a luxury subdivision whose growth was heavily stifled by the “Great Recession.”
The Waters at Fairhope
- 3 Sales!
- High Sales Price $719,500
- Average Sold Price Per Square Foot $163.10
Best Selling Fairhope Subdivisions 1st Quarter 2015 real estate market sales information provided by the Jason Will Real Estate Team 251-866-6464 and MLS data from the Baldwin County Association of Realtors.