Mobile Single-Family Real Estate
Center for Real Estate and Economic Development
Mobile Area Multi-List
Go to: http://creed.southalabama.edu for more data
Month of October, 2015
Mobile County Residential Market
Prices: For the month of October 2015, the average sales price increased 2.29% from $138,305 in September to $141,477.
For new construction homes, the average sales price increased 2.98% from $205,518 to $211,651. The median sales price
increased 4.38% from $120,000 to $125,250 in the same period. For new construction homes, the median sales price
increased 1.51% from $201,950 to $205,000.
Sales: The number of sales in October decreased by 20.10% since September to 310. Number of sales of new construction
homes decreased 10.71% to 25 sales. Compared to last year, total sales decreased by 1.27% from 314 to 310, while new
construction sales decreased 16.67% from 30 to 25 sales.
Months-to-Sell Inventory: The average number of months to sell the existing inventory of properties increased 18.45%
from 9.43 to 11.17, while new construction homes increased 27.33% from 6.00 to 7.64. Compared to last year, the
month’s inventory increased 20.37% from 9.28 to 11.17, while new construction increased 34.04% from 5.70 to 7.64.
Volume: Of the 310 total sales, 248 sales were under $200,000, representing 80.0% of the entire market. In September,
2015, sales under $200,000 represented 83.51% of total sales. Compared to September, 2015, sales in the $100,000$150,000 range decreased by 24.75%, or from 101 sales to 76 sales. In the same time period, sales in the $150,000$200,000 range increased by 21.43%, or from 70 sales to 55 sales in October, 2015.
U.S.: The U.S. market in August showed an 8.5% decrease in sales from July. Average sales price decreased by 1.7%
since July, and increased by 2.8% from the previous year. Median sales price decreased by 1.4%, or from $231,800
to $228,500. Compared to August, 2014, median sales price increased by 4.6%, or from $218,400 to $228,500. Inventory
month’s supply increased by 4.1% since July, 2015.
Overall Analysis: For October, the Mobile housing market showed increases in average sales price, median sales price,
and inventory month’s supply, while showing a decrease in number of sales. New construction homes showed increases in
average sales price, median sales price, and inventory month’s supply, while showing a decrease in number of sales. Per
the latest national housing statistics, the U.S. market in August showed decreases in sales, average and median sales
prices, while inventory month’s supply showed an increase since July 2015.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales Price
Median
Sales Price
Inventory
Month's
Supply
$235,000
Aug-14
479,000
$263,800
$218,400
5.6
$230,000
Jul-15
551,000
$275,900
$231,800
4.9
Aug-15
504,000
$271,300
$228,500
5.1
Vs. Last
Month (%)
-8.5
-1.7
-1.4
4.1
Vs. Last
Year (%)
5.2
2.8
4.6
-8.9
Median Sales Price
$225,000
$220,000
$215,000
Aug-14
Jul-15
Aug-15
Data Sources: All data taken from the Mobile Area Association of Realtors, Office: 251.479.8654; and the National Association of
Realtors, www.realtor.org.
Report by: Paul Leon, Senior Research Associate
For additional information: Dr. J. Reid Cummings, Director, Center for Real Estate and Economic Development, Mitchell College
of Business, University of South Alabama, Office: 251.460.6710, E-mail: cummings@southalabama.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.
October 2015 Mobile County Single-Family Residential Report
Median Sales Price
Average Sales Price
$250,000
Avg. Sales $
$200,000
$200,000
$150,000
$150,000
$100,000
$100,000
$50,000
$50,000
$0
Oct-12
Oct-13
vs. Last
Year (%)
Oct-14
Sep-15
New Const. Med. Sales $
$0
Oct-15
New
vs. Last
Const.
vs. Last
Month
Avg. Sales Year (%)
(%)
$
Med. Sales $
$250,000
New Const. Avg. Sales $
Oct-12
vs. Last
Month
(%)
Oct-13
Sep-15
Oct-15
New
vs. Last
vs. Last
Const.
vs. Last
Month
Month
Med. Sales Year (%)
(%)
(%)
$
Month
Avg.
Sales $
Oct-12
$126,095
Oct-13
$124,193
-1.51
$185,977
0.41
Oct-13
$99,900
-4.86
$184,900
3.61
Oct-14
$132,638
6.80
$198,062
6.50
Oct-14
$112,500
12.61
$178,184
-3.63
Sep-15
$138,305
Sep-15
$120,000
Oct-15
$141,477
Oct-15
$125,250
$185,222
Oct-12
$205,518
2.29
2.98
$211,651
Number of Sales
500
# Sales
Month
Med. Sales vs. Last
$
Year (%)
Oct-14
$105,000
$201,950
4.38
1.51
$205,000
Month's Inventory
15.00
New Const. # Sales
$178,450
Month's Inventory
New Const. Month's Inventory
400
10.00
300
200
5.00
100
0
0.00
Oct-12
Oct-13
Oct-14
Sep-15
Month
# Sales
vs. Last
Year (%)
vs. Last
Month
(%)
Oct-12
291
Oct-12
10.72
Oct-13
299
2.75
21
-22.22
Oct-13
10.64
-0.75
10.09
12.11
Oct-14
314
5.02
30
42.86
Oct-14
9.28
-12.78
5.70
-43.51
Sep-15
388
Oct-15
310
New
Const. #
Sales
Oct-15
vs. Last
Year (%)
Oct-12
vs. Last
Month
(%)
27
-20.10
28
-10.71
25
Month
Oct-13
Month's vs. Last
Inventory Year (%)
Sep-15
9.43
Oct-15
11.17
Oct-14
vs. Last
Month
(%)
Sep-15
Oct-15
New
vs. Last
Const.
vs. Last
Month
Month's Year (%)
(%)
Inventory
9.00
18.45
6.00
27.33
7.64
Price Range of Sales
Month
$0-100K
$100K150K
$150K200K
$200K250K
$300K500K
Over
$500K
Oct-12
138
65
41
Oct-13
150
63
34
34
9
4
36
14
Oct-14
135
75
2
45
43
14
Sep-15
153
2
101
70
44
17
Oct-15
117
3
76
55
41
17
4
180
160
140
120
100
80
60
40
20
0
Oct-12
Oct-13
Oct-14
Sep-15
Oct-15