Dothan Real Estate Market Report - October New Construction
October 10th, 2008 - Categories: Inside the numbers, New construction homes in Dothan
By: Judy Spears
The new construction home market in Dothan seems to be steady at the moment. Another 25 permits for construction were issued in September, including four properties to be built in the new Stone Creek Landing development on South Park Avenue and one Habitat for Humanity home. Home starts in Dothan have been consistently in the 2025 per month range since spring, and this months 25 represents a 47% increase over September of 2007.
Below is a chart showing new home starts in Dothan over a longer period, going back 12 quarters or three years. It remains to be seen if the low reached in the fourth quarter of 2007 was indeed the bottom. I think we will know once we see what the market does during the last quarter of 2008.
Inventory of new construction homes on the market in Dothan moved back up in September. There are currently 223 new construction homes listed in the Dothan area MLS, up from 211 last month. The median price of these listed homes is $197,500, which is over $60,000 above the overall market median.
There were 19 sales of new construction homes in September, according to data from the Dothan MLS, with an average price per square foot of $95.45 and average days on the market of 218 days. I cant remember the last time average price per square foot on new construction was below $100, so this months figure is a significant development.
If you have an interest in building or purchasing a new construction home, give me a call or use the contact form. As a Certified New Homes Specialist (CNHS), I have extensive training in the new home market and would be happy to consult with you on your real estate needs.
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Dothan Real Estate Market - October Inventory Report
October 7th, 2008 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
http://www.dothanhomesearch.com
The number of homes for sale in the Dothan real estate market is on its way back up. As of yesterday morning, there were 985 single-family houses listed for sale in the Dothan MLS, up from 951 on the first Monday of September. Last Mondays 987 single-family residential listings is the only time this year, and likely ever, that there have been more homes for sale in the Dothan area.
An increase in inventory during the fall is not uncommon. Sales typically start slowing down in September and usually without a corresponding drop in the number of folks that put their home on the market. Looking at a year-to-year comparision of sales will help us spot any trends. Well look at those numbers next week.
Absorption rate
The absorption rate for October is up again to a full nine months of inventory. Again, an seasonal increase is expected, and look for this number to continue to rise through the fall and all of our two or three weeks of winter.
Here are inventory and absorption rate numbers for several areas around the Wiregrass. Remember, absorption rate is the number of months of inventory currently on the market at the most recent rate of sales.
| Sold | Active | Absorption | |
| Area | September | 10/6/2008 | Rate |
| Dothan (northwest) - Midland City | 13 | 163 | 12.54 |
| Dothan - Southwest | 29 | 274 | 9.45 |
| Dothan - Northeast | 2 | 38 | 19 |
| Dothan - Southeast | 19 | 116 | 6.1 |
| Headland | 5 | 51 | 10.2 |
| Rehobeth - Taylor | 2 | 8 | 4 |
| Wicksburg - Pinckard - Newton | 4 | 21 | 5.25 |
| Slocomb - Hartford - Geneva County | 2 | 29 | 14.5 |
| Abbeville - Newville | 0 | 28 | - |
| Ashford - Cottonwood - Gordon | 5 | 52 | 10.4 |
| Columbia - Webb - Kinsey | 3 | 24 | 8 |
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Monday Market Snapshot - October 6, 2008
October 6th, 2008 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
http://www.dothanhomesearch.com
| Homes on market | 985 | DOWN |
| Median List price | $170,000 | UP |
| Avg $ per sq ft | $96.33 | DOWN |
| Avg days on market | 149 | DOWN |
| Least expensive listing | $10,000 | DOWN |
| Most expensive listing | $2,500,000 | SAME |
| Pending sales | 128 | DOWN |
| Sales last 7 days | 28 | UP |
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Dothan’s Play Time
October 1st, 2008 - Categories: Dothan area information, Just for Fun
By: Michelle Beasley
Dothan is well known throughout the country as a destination for hosting amateur and professional sporting events, such as softball, youth baseball, and professional tennis. Dothan Leisure Services has overseen this rise in prominence, and they do a tremendous job in not only bringing these events to Dothan, but also in maintaining the many parks and recreation areas here. In addition to parks, walking trails, and picnic pavilions they keep up, Dothan Leisure Services also manages:
- 21 Total Parks
- 7 Recreation Centers
- 11 Playgrounds
- 6 Picnic Pavilions
- 47 Tennis Courts
- 31 Baseball/softball fields
- 4 Soccer Fields
- 5 Swimming Pools (1 indoor)
- 1 Water Park
- 4 Walking Trails
- 2 Football fields
- 1 Football Stadium
- 1 BMX Track
The different events sponsored throughout the year, such as the Movie Gallery Pro Classic and Dixie Youth World Series this year, bring millions of dollars into the Dothan economy. Families plan vacations around these trips to Dothan, and spend money not only on lodging and food, but they also spend money in our stores.
While all the parks and recreation areas listed above are great for Dothan area residents to enjoy, the money they generate for city coffers is an important piece of the Dothan economy.
We have a page here on Dothanhomesearch.com that shows the location of the parks and playgrounds around Dothan. You can see the map by clicking the link below.
Dothan parks, playgrounds, and recreation centers
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