Yes, it's been a wild and crazy couple of years with home sales surging and prices going up every month. I really started seeing a change in the market around the middle of the summer where I noticed that prices started to either plateau or even drop. Our area has always been popular because we have plenty of folks that want to come here from the north, plus our area is so special of course.
Don't get confused though. Although sales are lower now and pricing is becoming more stable, this is more like a normal market. No one is thinking that we will have a real estate crash here in Daphne or anywhere in Baldwin County but things will just be more stable.
The above infographic shows the true facts about homes in Daphne for last month.
Here are some additional home facts for Daphne real estate:
Of the 140 homes that are currently on the market in Daphne, 55 are new construction and 34 homes were built prior to 2000.
19 homes on the market are not in an established neighborhood.
The least expensive home for sale is $225,500.
The most expensive for sale is $3,290,000.
The median price per square foot in Daphne is $166.
The median price per foot 12 months ago was $144.
The median selling price 12 months ago was $279,500.
With Daphne moving into a more normal real estate market, look for prices to not increase drastically (or even at all). On a side note, while buyers can negotiate with "resale" homes, prices for new construction is usually fixed by the builder for the most part. However, with so many new construction developments in our area, we may even see those prices start dropping a little too.
Don't get the wrong impression please. You're not going to see drastic drops in pricing because our area continues to grow. You're not going to find any "steals". However, I really believe that Daphne will go back to the normal appreciation rate of 2%-4% a year for the near future.
Just above my contact information in the infographic, you see the names of the hottest neighborhoods in Daphne. Here are the links for those neighborhoods so you can see exactly what is on the market there....