Mobile Area Real Estate (Mobile and Baldwin Counties) (Daphne, Fairhope: houses, new construction)

[Surge0001]

Originally Posted by RocketDawg

I read today that mortgage rates are coming down some, probably because of decreased sales due to the Covid spike.

My concern is - Covid supposedly goes down in the summer. If Delta is this bad now, just think how it's going to be this winter when most people stay inside.

Wouldn't surprise me at all, Already have to wear masks for the first 2 weeks of classes at UA.

[Surge0001]

Here's a little subdivision and PUD round up for the suburbs
Daphne looks to approves PUD's for a total of 184 homes as well as annex 100 acres of land


well... that's about it, the other cities don't seem to have much going on in terms of subdivisions

[Surge0001]

So we have a PUD for 13 plot subdivision on Bit and Spur road in West Mobile.
This one is quite interesting, because it is to be built on just 3 acres of land. Assuming that each household is a 2.53 family it will have 33 people in this subdivision which will amount to a whooping 7000 people per square mile. Which is pretty dense for Mobile standards. Granted it would won't change the density of Mobile like at all lol but these are the kind of developments the city needs to be looking for, highest density infill. Hopefully the planning commission doesn't succumb to NIMBYism again like the Hive Apartments

[natedoggbry]

Originally Posted by Surge0001

So we have a PUD for 13 plot subdivision on Bit and Spur road in West Mobile.
This one is quite interesting, because it is to be built on just 3 acres of land. Assuming that each household is a 2.53 family it will have 33 people in this subdivision which will amount to a whooping 7000 people per square mile. Which is pretty dense for Mobile standards. Granted it would won't change the density of Mobile like at all lol but these are the kind of developments the city needs to be looking for, highest density infill. Hopefully the planning commission doesn't succumb to NIMBYism again like the Hive Apartments

I can guarantee that these houses are gonna be 2 stories and absolutely massive. They’re also likely to be filled with families. Every time they tear down an existing house in Spring Hill and subdivide the lot to create multiple houses they all get sold to families of people that go to McGill, St. Paul’s, or UMS. Some of these houses they’re building right now in this area and in the country club behind it are absolutely bonkers in their size and appearance.

[Surge0001]

Originally Posted by natedoggbry

I can guarantee that these houses are gonna be 2 stories and absolutely massive. They’re also likely to be filled with families. Every time they tear down an existing house in Spring Hill and subdivide the lot to create multiple houses they all get sold to families of people that go to McGill, St. Paul’s, or UMS. Some of these houses they’re building right now in this area and in the country club behind it are absolutely bonkers in their size and appearance.

Hopefully see more of it

[Surge0001]

Baldwin County real estate August 2021:

838 houses sold for August 2021, -1.76% year over year growth

6621 houses sold so far this year (5996 predicted and 5374 house sold by this point last year)
Days on Market are still going down, it is now 29 days on the market, the average sale price is going up and is currently at 416k and median sales price is 299k.
Inventory has gone up to 1,386 total houses and 1.7 months of supply


The market is slowing down a little, not sure what the cause is right now whether it be to just a normalizing housing market or the Delta variant (or both), this next month or two I expect a very slight uptick in homes being sold by those displaced from Hurricane Ida.

[evlb401]

Well, take a look at the median home price. The higher it goes the smaller the buyer pool in our market.

[Surge0001]

Mobile County Real Estate:



544 houses sold in August with a Year over Year growth of 8.56%
Total Inventory has gone up to 693 (631 last month) with 1.3 months of supply
Average Sale price: $226,953
Median Sale price: 205,000
Days on market continue to go down, now down to just a little over two weeks on market at 17 days


New Construction sales: 33, 13.8% YoY growth
inventory: 8 with .2 months of supply
Average Sales price: 305,740
Median Sales price: 316,900
Days on market is 20 days

[Surge0001]

So it appears that I was wrong, the Mobile housing market did not take a dip like Baldwin County's did. Mobile County is continuing to show strong growth.

It also appears that Mobile is catching up in price to Baldwin County in terms of new home construction. For the Average price of a new construction home, Mobile was just $5k behind Baldwin County in terms of price and Mobile is more than 50k above the Median construction home price compared to Baldwin County. This is likely driven because of the nearly nonexistent supply of new homes Mobile with an apparent high demand for it

[Surge0001]

July Home Build Permits:


Mobile County: 61 total permits
Creola:1
Dauphin Island: 4
Unincorporated: 44
Mobile: 3
Saraland: 9
Semmes: 0


Baldwin County: 200 total permits
Unincorporated: 34
Bay Minette: 6
Daphne: 49
Fairhope: 29
Foley: 70
Gulf Shores: 9


Both counties didn't perform well this July, although I expected that would so as July seems to be slowest month for home growth.