5811 USA Drive South | Mobile, AL 36688
http://creed.southalabama.edu
Telephone: (251) 460-6710
Mobile County, AL
Quarterly Residential Housing Update
2016 | Quarter 1
Mobile Area Association of REALTORS®
2827 Airport Blvd. | Mobile, AL 36606
www.mobilerealtor.com
Telephone: (251) 479-8654
Mobile Quarterly Residential Housing Update
Table of Contents
Mobile County Sales Data ................................................................................................................................... 2
Sales Data Summary by MLS Zones .................................................................................................................... 4
Price Trends: MLS Zone 01 – Downtown ............................................................................................................ 5
Price Trends: MLS Zone 02 – Midtown South..................................................................................................... 5
Price Trends: MLS Zone 03 – MidTown East....................................................................................................... 5
Price Trends: MLS Zone 04 – Dauphin Island Pkwy North .................................................................................. 6
Price Trends: MLS Zone 07 – MidTown West ..................................................................................................... 6
Price Trends: MLS Zone 09 – MidCentral............................................................................................................ 6
Price Trends: MLS Zone 10 – Eight Mile/Prichard .............................................................................................. 7
Price Trends: MLS Zone 11 – Chickasaw ............................................................................................................. 7
Price Trends: MLS Zone 14 – Municipal Park/West Central ............................................................................... 7
Price Trends: MLS Zone 15 – Springhill/USA ...................................................................................................... 8
Price Trends: MLS Zone 16 – Cottage Hill North................................................................................................. 8
Price Trends: MLS Zone 17 – Cottage Hill South................................................................................................. 8
Price Trends: MLS Zone 18 – West Mobile ......................................................................................................... 9
Price Trends: MLS Zone 19 – Tillman’s Corner ................................................................................................... 9
Price Trends: MLS Zone 20 – Western Bay Shores ............................................................................................. 9
Price Trends: MLS Zone 21 – Dauphin Island Pkwy South .................................................................................. 10
Price Trends: MLS Zone 22 – South Mobile County/Theodore .......................................................................... 10
Price Trends: MLS Zone 23 – Grand Bay North................................................................................................... 10
Price Trends: MLS Zone 24 – West Mobile County............................................................................................. 11
Price Trends: MLS Zone 25 – West Mobile/Semmes .......................................................................................... 11
Price Trends: MLS Zone 26 – Semmes/Wilmer/Lott Rd ..................................................................................... 11
Price Trends: MLS Zone 27 – Saraland ................................................................................................................ 12
Price Trends: MLS Zone 28 – Saraland/Satsuma/Axis/Creola ............................................................................ 12
Price Trends: MLS Zone 29 – NorthEast Mobile County/Mt. Vernon................................................................. 12
Price Trends: MLS Zone 30 – Dauphin Island...................................................................................................... 13
Price Trends: MLS Zone 31 – NorthWest Mobile County/Citronelle .................................................................. 13
Credentials and Contact Information ................................................................................................................. 14
2016 | Quarter 1
1
Mobile Quarterly Residential Housing Update
Mobile County Sales Data
Total unit sales for the first quarter of 2016 in Mobile County were 962. Compared to the first quarter of 2015,
total unit sales increased by 2.34% in the first quarter of 2016. Most residential properties sold in the $100,000$199,999 range, increasing 0.79% compared to the first quarter of 2015. The most significant increase in price
range occurred in the $300,000-$499,999 range, where there was a 12.20% increase from the first quarter of
2015.
Total Unit Sales by Price Range
Price Range
2015 - Q1
2016 - Q1
$0-$99,999
$100,000-$199,999
$200,000-$299,999
$300,000-$499,999
$500,000-$999,999
Over $1 million
365
378
137
41
17
2
377
381
146
46
9
3
3.29%
0.79%
6.57%
12.20%
-47.06%
50.00%
Total
940
962
2.34%
Unit Sales by Sold Terms | 2016 - Q1
Total Unit Sales
980
960
940
920
900
880
860
840
820
800
Change
962
940
3%
0%
Cash
4% 0%
Conventional
8%
30%
FHA
+ 2.34%
23%
890
FHA-203K
862
Other
32%
USDA
V/L
2013 - Q1
2014 - Q1
2015 - Q1
VA
2016 - Q1
Average days on the market (DOM) for the first quarter of
2016 were 107 days. Compared to the first quarter of 2015,
average DOM decreased by 4.46%.
Avg. DOM
120
116
115
112
110
107
106
105
-4.46%
100
2013 - Q1
2014 - Q1
2015 - Q1%% 2016 - Q1
2016 | Quarter 1
2
Mobile Quarterly Residential Housing Update
Mobile County Sales Data (continued)
Average sales price in Mobile County decreased to $142,828 in the first quarter of 2016, a 1.10% change from the
first quarter of 2015. Median sales price decreased by 0.37% from the first quarter of 2015 to $122,500 in the first
quarter of 2015.
Quarterly Average & Median Sales Price by Year
$150,000
$140,000
$130,000
$120,000
$110,000
$100,000
$90,000
$80,000
Average Sale Price
Median Sale Price
- 1.10%
- 0.37%
2013 - Q1
$118,620
$96,700
2014 - Q1
$128,690
$105,351
2015 - Q1
$144,414
$122,950
2016 - Q1
$142,828
$122,500
Total Sold Dollar Volume
$140,000,000
$135,749,870
$135,000,000
$137,400,921
$130,000,000
+ 1.22%
$125,000,000
%
$120,000,000
$115,000,000
$110,000,000
$110,931,213
$105,572,173
$105,000,000
$100,000,000
2013 - Q1
2014 - Q1
2015 - Q1
2016 - Q1
Avg. Price per Square Foot
$75
$70
$70
$70
$65
$64
$60
$60
0.0%
$55
$50
2013 - Q1
2014 - Q1
2015 - Q1
2016 - Q1
2016 | Quarter 1
3
Mobile Quarterly Residential Housing Update
Sales Data Summary by MLS Zones
Zone
01
02
03
04
07
09
10
11
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Downtown
Midtown South
MidTown East
Dauphin Island Pkwy North
MidTown West
MidCentral
Eight Mile/Prichard
Chickasaw
Municipal Park/West Central
Springhill/USA
Cottage Hill North
Cottage Hill South
West Mobile
Tillman's Corner
Western Bay Shores
Dauphin Island Pkwy South
South Mobile County/Theodore
Grand Bay North
West Mobile County
West Mobile/Semmes
Semmes/Wilmer/Lott Rd
Saraland
Saraland/Satsuma/Axis/Creola
NorthEast Mobile County/Mt. Vernon
Dauphin Island
NorthWest Mobile County/Citronelle
Totals
Unit
Sales
% of Total
Total Sold
Dollar Volume
% of Total
4
15
37
27
19
11
12
16
42
75
65
65
103
44
25
34
37
10
73
84
39
39
47
7
22
10
0.42%
1.56%
3.85%
2.81%
1.98%
1.14%
1.25%
1.66%
4.37%
7.80%
6.76%
6.76%
10.71%
4.57%
2.60%
3.53%
3.85%
1.04%
7.59%
8.73%
4.05%
4.05%
4.89%
0.73%
2.29%
1.04%
$269,520
$2,410,426
$6,079,670
$703,084
$1,429,074
$230,813
$682,126
$645,419
$3,076,357
$15,996,400
$9,350,602
$9,362,088
$19,261,369
$5,247,743
$4,317,850
$1,955,750
$3,560,392
$944,400
$14,034,828
$12,421,288
$5,017,335
$6,255,810
$7,123,775
$740,000
$4,936,900
$1,347,902
0.20%
1.75%
4.42%
0.51%
1.04%
0.17%
0.50%
0.47%
2.24%
11.64%
6.81%
6.81%
14.02%
3.82%
3.14%
1.42%
2.59%
0.69%
10.21%
9.04%
3.65%
4.55%
5.18%
0.54%
3.59%
0.98%
962
100.00%
$137,400,921
100.00%
2016 | Quarter 1
4
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 01 – Downtown
2015 - Q1
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
9
$1,181,300
$131,255
$130,000
183
$85
2016 - Q1
4
$269,520
$67,380
$14,010
141
$29
Change
-55.56%
-77.18%
-48.66%
-89.22%
-22.95%
-65.88%
2016 - Q1
15
$2,410,426
$160,695
$120,000
84
$69
Change
25.00%
32.46%
5.97%
-6.98%
-21.50%
-6.76%
2016 - Q1
37
$6,079,670
$164,315
$139,900
62
$88
Change
15.63%
33.00%
15.02%
-5.47%
-21.52%
4.76%
Price Trends: MLS Zone 02 – Midtown South
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
12
$1,819,755
$151,646
$129,000
107
$74
Price Trends: MLS Zone 03 – MidTown East
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
32
$4,571,350
$142,854
$148,000
79
$84
2016 | Quarter 1
5
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 04 – Dauphin Island Pkwy North
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
25
$612,828
$24,513
$23,500
92
$18
2016 - Q1
27
$703,084
$26,040
$22,500
81
$19
Change
8.00%
14.73%
6.23%
-4.26%
-11.96%
5.56%
2016 - Q1
19
$1,429,074
$75,214
$55,000
77
$46
Change
-26.92%
-18.21%
11.93%
14.59%
1.32%
12.20%
2016 - Q1
11
$230,813
$20,983
$24,000
131
$18
Change
-15.38%
-4.59%
12.76%
100.00%
-26.40%
20.00%
Price Trends: MLS Zone 07 – MidTown West
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
26
$1,747,193
$67,199
$47,999
76
$41
Price Trends: MLS Zone 09 – MidCentral
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
13
$241,924
$18,609
$12,000
178
$15
2016 | Quarter 1
6
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 10 – Eight Mile/Prichard
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
10
$377,623
$37,762
$19,599
84
$22
2016 - Q1
12
$682,126
$56,843
$43,100
113
$31
Change
20.00%
80.64%
50.53%
119.91%
34.52%
40.91%
2015 - Q1
19
$751,775
$39,567
$28,900
89
$27
2016 - Q1
16
$645,419
$40,338
$32,750
147
$28
Change
-15.79%
-14.15%
1.95%
13.32%
65.17%
3.70%
Price Trends: MLS Zone 11 – Chickasaw
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
Price Trends: MLS Zone 14 – Municipal Park/West Central
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
46
$3,516,850
$76,453
$76,750
109
$44
2016 - Q1
42
$3,076,357
$73,246
$74,750
91
$43
Change
-8.70%
-12.53%
-4.19%
-2.61%
-16.51%
-2.27%
2016 | Quarter 1
7
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 15 – Springhill/USA
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
61
$17,629,090
$289,001
$196,000
141
$102
2016 - Q1
75
$15,996,400
$213,285
$99,500
107
$75
Change
22.95%
-9.26%
-26.20%
-49.23%
-24.11%
-26.47%
2016 - Q1
65
$9,350,602
$143,855
$119,500
161
$74
Change
-5.80%
0.66%
6.85%
-8.01%
21.97%
5.71%
2016 - Q1
65
$9,362,088
$144,032
$124,000
81
$67
Change
-7.14%
0.52%
8.25%
-1.08%
-25.69%
3.08%
Price Trends: MLS Zone 16 – Cottage Hill North
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
69
$9,289,520
$134,630
$129,900
132
$70
Price Trends: MLS Zone 17 – Cottage Hill South
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
70
$9,313,869
$133,055
$125,350
109
$65
2016 | Quarter 1
8
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 18 – West Mobile
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
111
$17,573,451
$158,319
$135,000
112
$79
2016 - Q1
103
$19,261,369
$187,003
$175,000
120
$82
Change
-7.21%
9.60%
18.12%
29.63%
7.14%
3.80%
2016 - Q1
44
$5,247,743
$119,266
$99,950
88
$67
Change
51.72%
63.40%
7.69%
21.89%
-6.38%
13.56%
2016 - Q1
25
$4,317,850
$172,714
$150,000
143
$81
Change
-21.88%
-50.43%
-36.55%
-15.01%
17.21%
-12.90%
Price Trends: MLS Zone 19 – Tillman’s Corner
2015- Q1
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
29
$3,211,655
$110,746
$82,000
94
$59
Price Trends: MLS Zone 20 – Western Bay Shores
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
32
$8,710,422
$272,200
$176,500
122
$93
2016 | Quarter 1
9
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 21 – Dauphin Island Pkwy South
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
21
$1,627,751
$77,511
$30,000
107
$43
2016 - Q1
34
$1,955,750
$57,522
$37,250
115
$39
Change
61.90%
20.15%
-25.79%
24.17%
7.48%
-9.30%
Price Trends: MLS Zone 22 – South Mobile County/Theodore
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
44
$4,177,500
$94,943
$92,400
67
$59
2016 - Q1
37
$3,560,392
$96,226
$96,820
66
$61
Change
-15.91%
-14.77%
1.35%
4.78%
-1.49%
3.39%
2016 - Q1
10
$944,400
$94,440
$93,500
73
$55
Change
-47.37%
-57.04%
-18.37%
-19.67%
-21.51%
-16.67%
Price Trends: MLS Zone 23 – Grand Bay North
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
19
$2,198,100
$115,689
$116,400
93
$66
2016 | Quarter 1
10
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 24 – West Mobile County
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
68
$12,870,680
$189,274
$183,425
87
$86
2016 - Q1
73
$14,034,828
$192,257
$179,900
105
$88
Change
7.35%
9.04%
1.58%
-1.92%
20.69%
2.33%
Price Trends: MLS Zone 25 – West Mobile/Semmes
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
66
$10,722,337
$162,459
$152,500
139
$76
2016 - Q1
84
$12,421,288
$147,872
$148,706
117
$74
Change
27.27%
15.84%
-8.98%
-2.49%
-15.83%
-2.63%
Price Trends: MLS Zone 26 – Semmes/Wilmer/Lott Rd
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
45
$5,699,277
$126,650
$127,900
113
$68
2016 - Q1
39
$5,017,335
$128,649
$125,500
97
$71
Change
-13.33%
-11.97%
1.58%
-1.88%
-14.16%
4.41%
2016 | Quarter 1
11
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 27 – Saraland
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
39
$5,251,245
$134,647
$125,000
63
$75
2016 - Q1
39
$6,255,810
$160,405
$150,000
105
$77
Change
0.00%
19.13%
19.13%
20.00%
66.67%
2.67%
Price Trends: MLS Zone 28 – Saraland/Satsuma/Axis/Creola
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
30
$4,967,410
$165,580
$136,750
96
$78
2016 - Q1
47
$7,123,775
$151,569
$129,900
111
$75
Change
56.67%
43.41%
-8.46%
-5.01%
15.63%
-3.85%
Price Trends: MLS Zone 29 – NorthEast Mobile County/Mt. Vernon
2015 - Q1
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
9
$555,900
$61,766
$69,000
211
$44
2016 - Q1
7
$740,000
$105,714
$116,000
59
$55
Change
-22.22%
33.12%
71.15%
68.12%
-72.04%
25.00%
2016 | Quarter 1
12
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 30 – Dauphin Island
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2015 - Q1
27
$6,328,645
$234,394
$199,000
218
$130
2016 - Q1
22
$4,936,900
$224,404
$183,500
167
$163
Change
-18.52%
-21.99%
-4.26%
-7.79%
-23.39%
25.38%
Price Trends: MLS Zone 31 – NorthWest Mobile County/Citronelle
2015 - Q1
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
8
$802,420
$100,302
$95,750
170
$59
2016 - Q1
10
$1,347,902
$134,790
$123,750
107
$54
Change
25.00%
67.98%
34.38%
29.24%
-37.06%
-8.47%
2016 | Quarter 1
13
Mobile Quarterly Residential Housing Update
Credentials and Contact Information
Data Source:
All data is provided by the Mobile Area Association of REALTORS® Multiple Listing Service.
For further information about the data, contact the MAAR office at (251) 479-8654.
All inquiries regarding this report should be directed to:
Dr. J. Reid Cummings, Director
Center for Real Estate & Economic Development
Email: cummings@southalabama.edu
Phone: (251) 460-6710
This report was prepared by:
Paul Leon, Senior Research Analyst
Center for Real Estate & Economic Development
Mitchell College of Business
University of South Alabama
Disclaimer:
USA takes reasonable measures to ensure the quality of the data and other information produced. However,
warranty, expressed or implied, nor assumes any legal liability or responsibility for the accuracy, correctness, or
USA makes no 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.
2016 | Quarter 1
14