Praytor Realty

 

CONGRATULATIONS TO OUR TOP AGENTS

Elaine Campbell - Sales Agent

Linda Chamlee - Listing Agent


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Jamie Praytor
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April 2014 Housing Report

No Good News Sales-Prices Slide Further

  • 430 homes were sold in April versus 430 homes in March. Flat. April 2013 sales were 495 homes, Down 13%. Total Sales 2014-1,539 compared to 1,720 in 2013, down 11%!
  • Average home prices in April fell sharply to $149,864 compared to 160,964 in March – Down 7%.  Average sales price for 2013 was $154,484 compared to 2012-$150,255 and 2011-$140,344.
  • The time it takes to sell rose sharply to 125 days in April compared to 111 days in March. Up 12% Average time on market in 2013 was 103 compared to 108 days in 2012.
  • Pending home sales were up slightly to 558 homes in April compared to 540 in March.  
  • Supply of available inventory remained level at 8.68 months in April.  Average supply for 2013 was 8.88 months, 2012 was 10.13 months. Total houses on market remained at an extremely low level of only 3,735.

Mobile & Baldwin County sales remained soft in April. April to March sales were the same and compared to 2013, April sales were down 13%. In addition to lower sales, prices also off in April, Down 7%.

While sales on the Coast are soft the rest of the state of Alabama is cooking with 1st quarter sales at the highest level since 2008 (From ACRE Report). Not only is the rest of the state selling better but prices are up nicely in the first quarter. A real head scratcher, considering Mobile & Baldwin County have had more good economic news than any other part of the state but 2014 sales have not reflected the increase in good news. So when is the wave coming? The hype created by the good economic development news has folks looking for a tidal wave of activity. We forecasted a soft 1st quarter and we would suggest it’s time to ratchet the tidal wave talk back a little bit. We would be happy to see a nice ripple by mid 2014 that could turn to a small wave by the 4th quarter of 2014-1st quarter of 2015. We would love to be wrong and in the middle of tsunami in a few months but we don’t think that is a realistic expectation.

The rental part of our market is completely different than sales, Baldwin & Mobile County rank 1-2 for the highest rental rates in the State. And so what we won’t be painted as a complete sour puss there is some OK news. The time it takes to sell has risen sharply this year. We believe this is a direct reflection of the lack of inventory. We are selling homes that have been on the market for some time because there simply isn’t inventory to choose from. Eventually, the lack of inventory will move prices higher. In addition to low inventory levels, pending homes sales were up in April pointing to increased sales in May. In 2013, May was the biggest month of the year.

 Congratulations to Elaine Campbell on being our top agent again in April.

Tommy Praytor
Praytor Realty


 

Vince Emmons Wins Jamie C. Praytor Humanitarian Award

The Mobile Area Association of Realtors has named Vince Emmons the recipient of the Jamie C. Praytor Humanitarian Award for 2012. Emmons earned the award for his work with special needs students at Augusta Evans School. For years the kids at Augusta Evans have recycled Mardi Gras beads as a fund raiser. Emmons started by making one child’s dream com true by securing him a ride in a Mardi Gras parade after working all year to recycling beads. That effort has now grown to 3 floats and 85 special needs kids being able to ride in last years parade. “Vince is a classic example of one person deciding to make a difference and making it happen, a perfect recipient for this year’s award. Fifty years ago, my Grandmother, Susan Catlin, was an early advocate for special needs children and both she and my Mom would be thrilled about this year’s choice,” offered Tommy Praytor. The Mobile Area Association of Realtors will donate $500 to Mobile’s Challenged Revelers in Emmons honor. Old time race fans may remember Emmons from his racing days in the early days of Mobile International Speedway.  

Picture: Thomas Praytor, Emmons and Hayley Praytor

  

2011 Jamie Praytor Humanitarian Award Winner
Larinda Gann Musgrove


Larinda Gann Musgrgove earned the 2011 Jamie Praytor Humanitarian Award for her tireless volunteer effort in our community. Larinda serves on the McKemie Place advisory council and has orchestrated many events and improvements to the building, as well as being actively involved with the YMCA College of Mentors program. Recently Larinda co-chaired the TLAR Love fund, raising funds to help a family purchase a memorial marker for a local realtor. A past president of the Women’s Council of Realtors, a regular contributor to the Children’s Miracle Network. We at Praytor Realty are honored to see Larinda receive the 2011 Jamie Praytor Humanitarian Award.
 

 

 

 
 
 
 
 
 
 

 

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Last modified: May 23, 2014