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 April, 2016
Mobile County Residential Market
Prices: For the month of April 2016, the average sales price increased 17.85% from $142,455 in March to $167,884. For
new construction homes, the average sales price increased 0.71% from $207,874 to $209,357. The median sales price
increased 12.09% from $122,000 to $136,750 in the same period. For new construction homes, the median sales price
decreased 3.89% from $215,000 to $206,640.
Sales: The number of sales in April decreased by 8.52% since March to 376. Number of sales of new construction homes
increased 28.57% to 45 sales. Compared to last year, total sales decreased by 2.34% from 385 to 376, while new
construction sales increased 60.71% from 28 to 45 sales.
Months-to-Sell Inventory: The average number of months to sell the existing inventory of properties increased 31.28%
from 5.85 to 7.68, while new construction homes increased 24.94% from 3.89 to 4.86. Compared to last year, the month’s
inventory increased 6.52% from 7.21 to 7.68, while new construction decreased 29.05% from 6.85 to 4.86.
Volume: Of the 376 total sales, 276 sales were under $200,000, representing 73.4% of the entire market. In March, 2016,
sales under $200,000 represented 77.6% of total sales. Compared to March 2016, sales in the $100,000-$150,000 range
increased by 7.37%, or from 95 sales to 102 sales. In the same time period, sales in the $150,000-$200,000 range
increased by 3.17%, or from 63 sales to 65 sales in April 2016.
U.S.: The U.S. market in February showed a 4.0% increase in sales from January. Average sales price decreased by
0.9% since January, and increased by 3.0% from the previous year. Median sales price decreased by 0.7%, or from
$213,700 to $212,100. Compared to February 2015, median sales price increased by 5.1%, or from $201,900 to $212,100.
Inventory month’s supply increased by 10.0% since January 2015.
Overall Analysis: For April, the Mobile housing market showed increases in average sales price, median sales price, and
inventory month’s supply, while showing a decrease in the number of sales. New construction homes showed increases in
average sales price, number of sales, and inventory month’s supply, while showing a decrease in median sales price. Per
the latest national housing statistics, the U.S. market in February showed increases in number of sales and inventory
month’s supply, while showing decreases in average sales price and median sales price since January 2016.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales Price
Median
Sales Price
Inventory
Months
Supply
$215,000
Feb-15
295,000
$247,800
$201,900
4.6
$210,000
Jan-16
302,000
$257,700
$213,700
4.0
Feb-16
314,000
$255,300
$212,100
4.4
Vs. Last
Month (%)
4.0
-0.9
-0.7
10.0
Vs. Last
Year (%)
6.4
3.0
5.1
-4.3
Median Sales Price
$205,000
$200,000
$195,000
Feb-15
Jan-16
Feb-16
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.
April 2016 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
Apr-13
Apr-14
vs. Last
Year (%)
Apr-15
Mar-16
New Const. Med. Sales $
$0
Apr-16
New
vs. Last
Const.
vs. Last
Month
Avg. Sales Year (%)
(%)
$
Med. Sales $
$250,000
New Const. Avg. Sales $
Apr-13
vs. Last
Month
(%)
Apr-14
Mar-16
Apr-16
New
vs. Last
vs. Last
Const.
vs. Last
Month
Month
Med. Sales Year (%)
(%)
(%)
$
Month
Avg.
Sales $
Apr-13
$131,615
Apr-13
$115,000
Apr-14
$133,453
1.40
$189,011
-4.49
Apr-14
$115,000
0.00
$176,000
-17.53
Apr-15
$139,624
4.62
$195,221
3.29
Apr-15
$120,000
4.35
$176,811
0.46
Mar-16
$142,455
Mar-16
$122,000
Apr-16
$167,884
Apr-16
$136,750
$197,893
17.85
$207,874
0.71
$209,357
Number of Sales
500
# Sales
Month
Med. Sales vs. Last
$
Year (%)
Apr-15
400
8.00
300
6.00
200
4.00
100
2.00
0
$215,000
12.09
-3.89
$206,640
Month's Inventory
10.00
New Const. # Sales
$213,415
Month's Inventory
New Const. Month's Inventory
0.00
Apr-13
Apr-14
Apr-15
Mar-16
Month
# Sales
vs. Last
Year (%)
vs. Last
Month
(%)
Apr-13
357
Apr-13
8.65
Apr-14
344
-3.64
27
-30.77
Apr-14
8.36
-3.35
6.81
27.29
Apr-15
385
11.92
28
3.70
Apr-15
7.21
-13.76
6.85
0.59
Mar-16
411
Mar-16
5.85
Apr-16
376
Apr-16
7.68
New
Const. #
Sales
Apr-16
vs. Last
Year (%)
Apr-13
vs. Last
Month
(%)
39
-8.52
35
28.57
45
Month
Apr-14
Month's vs. Last
Inventory Year (%)
Apr-15
vs. Last
Month
(%)
Mar-16
Apr-16
New
vs. Last
Const.
vs. Last
Month
Month's Year (%)
(%)
Inventory
5.35
31.28
3.89
24.94
4.86
Price Range of Sales
Month
$0-100K
$100K150K
$150K200K
$200K250K
$300K500K
Over
$500K
Apr-13
158
69
48
63
17
2
Apr-14
144
79
58
46
11
6
Apr-15
154
94
60
48
21
8
Mar-16
161
95
63
64
23
5
Apr-16
109
102
65
66
23
11
180
160
140
120
100
80
60
40
20
0
Apr-13
Apr-14
Apr-15
Mar-16
Apr-16