Mobile Residential Report:
New Construction
September 2012 - September 2013
This report covers summary data of new construction from the Mobile Area Multi-List. The numbers
cover all sold properties represented by real estate agents for the time period shown.
"Data you can use. Education you can use."
http://cres.southalabama.edu/
Mobile Area Association of Realtors
2827 Airport Blvd., Mobile, AL 36606
Telephone: 251.479.8654
www.mobilerealtor.com
Report Analysis by: Andrea Justiniano, Research Associate
USA takes reasonable measures to ensure the quality of the data and other information produced. However, USA makes no warranty,
express or implied, nor assumes any legal liability or responsibility for the accuracy, correctness, or completeness of any information, nor
represents that its use would not infringe on privately owned rights. Reference to any specific commercial product, process, or service
does not constitute an endorsement, recommendation, or favoring by USA.
does not constitute an endorsement, recommendation, or favoring by USA.
Mobile Residential New Construction
September 2012 - September 2013
Average Sales Price
The average sales price of newly constructed
sold properties for September, 2013,
increased by 4.27% from August, 2013.
Compared to September, 2012, average
sales price increased by 14.45%. In the
period between September, 2012, and
September, 2013, the highest average sales
price reported was $214,516 in September,
2013. The lowest average sales price in the
same period was $176,455 in January, 2013.
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
$187,428
$183,383
$181,379
$201,887
$176,455
$189,007
$182,499
$197,893
$188,723
$204,740
$182,775
$205,729
$214,516
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
$177,665
$172,529
$179,841
$184,417
$169,900
$182,000
$178,035
$213,415
$169,300
$180,375
$163,900
$191,612
$213,900
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
38
26
27
30
31
35
34
39
38
37
30
24
23
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Sep-12
Jan-13
May-13
Sep-13
Jan-13
May-13
Sep-13
Median Sales Price
Median sales price in September, 2013,
increased by 11.63% from the previous
month. Compared to September, 2012,
median sales price increased by 20.4%. In
the last 12 months, the lowest median sales
price reported was $163,900 in July, 2013.
The highest median sales price reported was
$213,900 in September, 2013.
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Sep-12
Number of Sales
The number of sales of newly constructed
residential properties decreased by 4.17% in
September compared to the previous month.
Compared to September, 2012, the number
of sales decreased by 39.47%, or by 15
sales. The trendline for the past 12 months
shows a steady increase in te number of
sales from October, 2012 to April, 2013 and
from April, 2013 to September, 2013 a steady
downward trend.
Page 2
50
40
30
20
10
0
Sep-12
Jan-13
May-13
Sep-13
Mobile Residential New Construction
September 2012 - September 2013
Average Days on the Market
Average days on the market (DOM)
increased by 16.3% from August to
September, 2013. Compared to September,
2012, DOM increased from 105 days to 157
days, a 49.52% increase. Between
September 2012, and September, 2013, the
highest average DOM reported was 166 days
in July, 2013. The lowest average DOM
reported in the same period was 105 days in
September, 2012.
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
105
147
119
129
109
107
123
122
119
144
166
135
157
180
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
6.05
9.26
8.96
7.96
6.87
6.20
6.20
5.20
5.23
5.02
6.13
7.33
7.65
10.00
$150,000$199,999
15
11
13
11
16
15
11
11
15
11
10
13
4
$200,000$299,999
14
9
6
11
8
12
10
18
11
10
7
10
11
160
140
120
100
80
60
40
20
0
Sep-12
Jan-13
May-13
Sep-13
Months Inventory
Months of new home inventory reported in
September, 2013 increased by 4.37% since
August, 2013. Compared to September,
2012, months inventory increased by
26.45%. The trendline for months inventory
shows a steady decrease from October,
2012 to June, 2013 and a steady increase
from June, 2013 to September, 2013. The
highest months inventory reported in the last
12 months was 9.26 months in October,
2012, and the lowest months inventory
reported was 5.02 months in June, 2013.
8.00
6.00
4.00
2.00
0.00
Sep-12
Jan-13
May-13
Price Range of Sold Properties
$0-$99,999
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
0
0
0
0
0
0
0
0
0
1
0
0
0
$100,000$149,999
9
6
8
6
7
8
12
8
11
11
12
1
6
Page 3
$300,000$499,999
0
0
0
2
0
0
1
2
1
3
1
0
1
Over
$500,000
0
0
0
0
0
0
0
0
0
1
0
0
1
Total
38
26
27
30
31
35
34
39
38
37
30
24
23
Sep-13
Mobile Residential New Construction
September 2012 - September 2013
Price Range of Sold Properties (continued)
For the past 12 months, the majority of new
residential properties sold were priced
between $100,000 and $299,999. The highes
percentage of sold properties is 47.83%,
which falls under the $200,000 to $299,999
price range. However, the largest percentage
of total sales in September, 2012 was
39.47% under the $150,000 to $199,999
price range.
45
Over $500,000
40
$300,000-$499,999
35
$200,000-$299,999
$150,000-$199,999
30
$100,000-$149,999
25
$0-$99,999
20
15
10
5
0
Sep-12
Jan-13
May-13
Sep-13
Sales by MLS Zone
Area
01 Downtown
02 MidTown South
03 MidTown East
04 Dauphin Island Parkway North
07 MidTown West
09 MidCentral
10 Eight Mile/Prichard
11 Chickasaw
14 Municipal Park/West Central
15 Springhill/USA
16 Cottage Hill North
17 Cottage Hill South
18 West Mobile
19 Tillman's Corner
20 Western Bay Shores
21 Dauphin Island Parkway South
22 South Mobile County/Theodore
23 Grand Bay North
24 West Mobile County
25 West Mobile/Semmes
26 Semmes/Wilmer/Lott Rd
27 Saraland
28 Saraland/Satsuma/Axis/Creola
29 NorthEast Mobile County/Mt. Vernon
30 Dauphin Island
31 NorthWest Mobile County/Citronelle
TOTALS
# of Sales
0
0
1
0
0
0
0
0
0
3
16
8
64
28
3
0
1
3
98
130
17
30
10
0
1
0
413
Avg Sales
$0
$0
$142,000
$0
$0
$0
$0
$0
$0
$437,333
$176,915
$231,724
$188,962
$178,209
$124,166
$0
$129,950
$191,833
$205,886
$179,155
$133,241
$215,970
$213,953
$0
$440,000
$0
$191,502
Page 4
Median Sales
$0
$0
$142,000
$0
$0
$0
$0
$0
$0
$555,000
$181,940
$197,687
$164,287
$175,336
$102,600
$0
$129,950
$178,000
$217,731
$177,561
$127,900
$213,172
$226,732
$0
$440,000
$0
$178,800
This table reflects the total
number of sales and sales price
for each MLS zone from
September, 2012, to September,
For the period between
September, 2012, and
September, 2013, 70.7% of new
home property sales occurred in
West Mobile, which includes
zones 18, 24 and 25. The area
with the highest average sales
price was Dauphin Island (zone
30) at $440,000. Springhill/USA
(zone 15) had the highest median
sales price at $555,000. Total
figures for the entire period were
413 sales; $191,502 overall
average sales price; and
$178,800 overall median sales
price.
Mobile Residential New Construction
September 2012 - September 2013
Sales by MLS Zone (continued)
130
3
98
64
16
8
28
3
1
3
Page 5
1
Mobile Residential New Construction
September 2012 - September 2013
Sales by MLS Zone (continued)
10
17
30
Page 6
Source: All data is supplied by the Mobile Multi-List.
This report can be found on our website http://cres.southalabama.edu.
For further information, please contact:
Don Epley, Ph.D., MAI, CCIM
Director, CREED
Mitchell College of Business
University of South Alabama
Email: depley@southalabama.edu
Report Analysis by:
Andrea Justiniano, MBA student
Research Associate, CREED
Mitchell College of Business
University of South Alabama
Email: aj901@jagmail.southalabama.edu
Page 7