Mobile Single-Family Real Estate
Center for Real Estate Studies
Mobile Area Multi-List
Additional data and information can be found at CRES website: http://cres.southalabama.edu
The Mobile Residential Market
Month of November, 2011
Prices: The average sales price increased slightly from $110,341 in October to $111,994 in November, 2011, a 1.50
percent change. The median sales price increased by 2.27 percent – from $90,450 to $92,500 in the same period.
Sales: The number of sales decreased by 4.01 percent from October. The number of sales in the $0-$99,999 range
decreased from 149 to 139, a 6.71 percent change. Three sales occurred over $500,000, an increase by 2 sales from
October, 2011. The number of sales in the $100,000-$149,999 range was 60, which was an increase by 3 sales, compared
to last month.
Volume: Of the 263 total sales in November, 232 sales were under $200,000, comprising 88.21 percent of the entire
market. Twenty-Four properties sold in the $200,000-$299,999 price range, which resulted in an increase by 9.09 percent.
Four sales occurred in the $300,000-$499,999 range, which decreased from the nine sales in the previous month. Thus,
97.34 percent of all sales in November were below $300,000.
Month’s-to-Sell Inventory: The average number of months to sell the existing inventory of properties in November
increased from 12.58 in October to 12.66, a 0.64 percent change. Compared to November of last year, however, there was
a decrease by 17.31 percent, from 15.31 to 12.66 in November, 2011.
U.S.: The latest figures for the U.S. market in September showed a decrease of 13.9 percent in sales from August to
September, 2011, and showed a 14.6 percent increase compared to September of last year. The average sales price
decreased to $213,500, which resulted in a 2.7 percent change. The median sales price, for the same period, decreased 3.2
percent, from $171,200 to $165,800. The inventory months supply was 8.3 months in September, a 1.2 percent decrease
from August.
Overall Analysis: For the month of November, the Mobile housing market showed a decrease in number of sales by 4.01
percent compared to last month. However, Average Sales Price, Median Sales Price, and Month’s Inventory each showed
increases of 1.50 percent, 2.27 percent, and 0.64 percent, respectively, in November, 2011.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales
Price
Median
Sales Price
Inventory
Months
Supply
$172,000
Sep-10
378,000
$218,100
$171,400
10.9
$170,000
Aug-11
503,000
$219,500
$171,200
8.4
$168,000
Sep-11
433,000
$213,500
$165,800
8.3
$166,000
Vs. Last
Month
(%)
-13.9
-2.7
-3.2
-1.2
$164,000
Vs. Last
Year (%)
14.6
-2.1
-3.3
-23.9
$162,000
Sep-10
Median Sales Price
Aug-11
Sep-11
Data Sources: All data taken from the Mobile Area Association of Realtors, Jeff Newman, Office: 251.479.8654; and the National
Association of Realtors, www.realtor.com.
For additional information: Dr. Don Epley, Director, Center for Real Estate Studies, Mitchell College of Business, University of
Research Associate: Susan Grimsley
South Alabama, Office: 251.460.6735, E-mail: depley@usouthal.edu.
University of South Alabama 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.
November 2011 Mobile County Single-Family Residential Report
Average Sales Price
$200,000
Median Sales Price
$140,000
$120,000
$150,000
$100,000
$80,000
$100,000
$60,000
$40,000
$50,000
$20,000
$0
Nov-08
Nov-09
Nov-10
Month
Ave. Sales
$
Nov-08
$154,840
Nov-09
$138,941
-10.27
Nov-10
$137,401
-1.11
Oct-11
$110,341
Nov-11
$111,994
Annual 09
Annual 10
$143,092
$136,613
Oct-11
vs. Last Year
(%)
$0
Nov-11
Nov-08
vs. Last
Month (%)
Number of Sales
300
Nov-10
Oct-11
vs. Last
Year (%)
Month
Med. Sales $
Nov-08
$122,900
Nov-09
$125,000
1.71
Nov-10
$125,000
0.00
Oct-11
$90,450
Nov-11
$92,500
Annual 09
Annual 10
$127,100
$120,000
1.50
-4.53
Nov-09
Nov-11
vs. Last
Month (%)
2.27
-5.59
Month's Inventory
20.00
250
15.00
200
150
10.00
100
5.00
50
0
0.00
Nov-08
Nov-09
Nov-10
Oct-11
vs. Last Year
(%)
Nov-11
Nov-08
vs. Last
Month (%)
Nov-09
Nov-10
Month
Month's
Inventory
Nov-08
16.38
Oct-11
vs. Last
Year (%)
Month
# Sales
Nov-08
219
Nov-09
269
22.83
Nov-09
14.17
-13.49
Nov-10
245
-8.92
Nov-10
15.31
8.05
Oct-11
274
Oct-11
12.58
Nov-11
263
Nov-11
12.66
Annual 09
12.33
Annual 10
14.23
Annual 09
3481
Annual 10
3322
-4.01
-4.57
Nov-11
vs. Last
Month (%)
0.64
15.41
$150,000$199,999
$200,000$299,999
$300,000$499,999
75
65
27
36
8
8
81
102
42
34
8
2
Nov-10
97
69
42
24
9
4
Oct-11
149
57
36
22
9
1
Nov-11
139
60
33
24
4
3
Ann. 09
1145
1092
616
451
143
34
Ann. 10
1284
913
536
419
129
42
Month
0-$99,999
Nov-08
Nov-09
Number
$100,000$149,999
Over $500K
Price Range of Sales
160
140
120
100
80
60
40
20
0
Nov-08
Nov-09
Nov-10
Oct-11
Nov-11