5811 USA Drive South | Mobile, AL 36688
http://creed.southalabama.edu
Telephone: (251) 460-6735
Mobile County, AL
Quarterly Residential Housing Update
2015 | 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
2015 | Quarter 1
1
Mobile Quarterly Residential Housing Update
Mobile County Sales Data
Total unit sales for the first quarter of 2015 in Mobile County were 932. Compared to the first quarter of 2014,
total unit sales increased by 8.00% in the first quarter of 2015. Most residential properties sold in the $100,000$199,999 range, increasing 22.40% compared to the first quarter of 2014. The most significant increase in price
range occurred in the $500,000-$999,999 range, where there was an 88.89% increase, from the first quarter of
2014.
Total Unit Sales by Price Range
Price Range
2014 - Q1
2015 - Q1
$0-$99,999
$100,000-$199,999
$200,000-$299,999
$300,000-$499,999
$500,000-$999,999
Over $1 million
407
308
96
42
9
1
359
377
136
41
17
2
-11.79%
22.40%
41.67%
-2.38%
88.89%
100.00%
Total
863
932
8.00%
Total Unit Sales
940
Unit Sales by Sold Terms | 2015 - Q1
932
1%
3%
920
1%
890
900
Change
7%
Auction
0%
Cash
5%
Conventional
38%
863
880
+ 8.00%
FHA
23%
FHA-203K
860
840
837
Other
22%
820
USDA
800
V/L
780
2012 - Q1
2013 - Q1
2014 - Q1
VA
2015 - Q1
Average days on the market (DOM) for the first quarter of
2015 were 112 days. Compared to the first quarter of 2014,
average DOM decreased by 3.45%.
Avg. DOM
120
116
115
110
112
108
106
105
- 3.45%
100
2012 - Q1
2013 - Q1
2014 - Q1%% 2015 - Q1
2015 | Quarter 1
2
Mobile Quarterly Residential Housing Update
Mobile County Sales Data (continued)
Average sales price in Mobile County increased to $145,068 in the first quarter of 2015, a 12.68% change from the
first quarter of 2014. Median sales price was 16.59% higher in the same period, increasing to $123,000. Both
average sales price and median sales price have increased since the first quarter in 2012.
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
+ 12.68%
+ 16.59%
2012 - Q1
$116,598
$90,411
2013 - Q1
$118,626
$96,700
2014 - Q1
$128,738
$105,500
2015 - Q1
$145,068
$123,000
Total Sold Dollar Volume
$140,000,000
$135,204,155
$130,000,000
+ 21.69%
$120,000,000
$111,100,963
$105,577,173
$110,000,000
$100,000,000
%
$97,593,099
$90,000,000
$80,000,000
2012 - Q1
2013 - Q1
2014 - Q1
2015 - Q1
Avg. Price per Square Foot
$75
$71
$70
$64
$65
$60
$60
$57
+ 10.94%
$55
$50
2012 - Q1
2013 - Q1
2014 - Q1
2015 - Q1
2015 | 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
8
12
33
23
25
11
10
19
45
61
70
69
110
29
30
21
42
21
68
67
46
40
29
9
27
7
0.86%
1.29%
3.54%
2.47%
2.68%
1.18%
1.07%
2.04%
4.83%
6.55%
7.51%
7.40%
11.80%
3.11%
3.22%
2.25%
4.51%
2.25%
7.30%
7.19%
4.94%
4.29%
3.11%
0.97%
2.90%
0.75%
$1,174,800
$1,819,755
$4,595,300
$565,378
$1,701,193
$220,424
$377,623
$751,775
$3,484,350
$17,629,090
$9,368,520
$9,136,469
$17,663,951
$3,047,540
$8,520,222
$1,627,751
$4,105,400
$2,415,300
$12,659,280
$10,807,486
$5,700,928
$5,387,745
$4,830,910
$555,900
$6,328,645
$728,420
0.87%
1.35%
3.40%
0.42%
1.26%
0.16%
0.28%
0.56%
2.58%
13.04%
6.93%
6.76%
13.06%
2.25%
6.30%
1.20%
3.04%
1.79%
9.36%
7.99%
4.22%
3.98%
3.57%
0.41%
4.68%
0.54%
932
100.00%
$135,204,155
100.00%
2015 | Quarter 1
4
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 01 – Downtown
2014 - Q1
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
5
$753,575
$150,715
$169,500
128
$91
2015 - Q1
8
$1,174,800
$146,850
$130,000
205
$95
Change
60.00%
55.90%
-2.56%
-23.30%
60.16%
4.40%
2015 - Q1
12
$1,819,755
$151,646
$129,000
107
$74
Change
50.00%
98.97%
32.64%
226.58%
-29.61%
60.87%
2015 - Q1
33
$4,595,300
$139,251
$148,000
79
$84
Change
13.79%
4.93%
-7.79%
8.82%
-13.19%
13.51%
Price Trends: MLS Zone 02 – Midtown South
2014 - Q1
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
8
$914,600
$114,325
$39,500
152
$46
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.
2014 - Q1
29
$4,379,342
$151,011
$136,000
91
$74
2015 | 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.
2014 - Q1
22
$626,670
$28,485
$27,000
96
$19
2015 - Q1
23
$565,378
$24,581
$22,000
88
$17
Change
4.55%
-9.78%
-13.71%
-18.52%
-8.33%
-10.53%
2015 - Q1
25
$1,701,193
$68,047
$49,999
73
$41
Change
4.17%
22.82%
17.91%
-7.24%
-46.32%
0.00%
2015 - Q1
11
$220,424
$20,038
$12,000
209
$16
Change
-47.62%
-58.26%
-20.32%
-45.45%
207.35%
-11.11%
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.
2014 - Q1
24
$1,385,119
$57,713
$53,900
136
$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.
2014 - Q1
21
$528,100
$25,147
$22,000
68
$18
2015 | 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.
2014 - Q1
18
$546,772
$30,376
$18,500
105
$21
2015 - Q1
10
$377,623
$37,762
$19,599
84
$22
Change
-44.44%
-30.94%
24.32%
5.94%
-20.00%
4.76%
2014 - Q1
11
$488,080
$44,370
$25,000
108
$28
2015 - Q1
19
$751,775
$39,567
$28,900
89
$27
Change
72.73%
54.03%
-10.82%
15.60%
-17.59%
-3.57%
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.
2014 - Q1
45
$2,912,016
$64,711
$55,600
96
$40
2015 - Q1
45
$3,484,350
$77,430
$78,500
108
$45
Change
0.00%
19.65%
19.66%
41.19%
12.50%
12.50%
2015 | 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.
2014 - Q1
46
$13,015,801
$282,952
$226,250
177
$100
2015 - Q1
61
$17,629,090
$289,001
$196,000
140
$102
Change
32.61%
35.44%
2.14%
-13.37%
-20.90%
2.00%
2015 - Q1
70
$9,368,520
$133,836
$124,325
131
$70
Change
27.27%
22.76%
-3.55%
-0.54%
-10.88%
4.48%
2015 - Q1
69
$9,136,469
$132,412
$125,000
101
$65
Change
9.52%
18.07%
7.80%
20.41%
16.09%
6.56%
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.
2014 - Q1
55
$7,631,600
$138,756
$125,000
147
$67
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.
2014 - Q1
63
$7,738,213
$122,828
$103,815
87
$61
2015 | 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.
2014 - Q1
84
$13,482,405
$160,504
$148,700
99
$75
2015 - Q1
110
$17,663,951
$160,581
$137,750
113
$79
Change
30.95%
31.01%
0.05%
-7.36%
14.14%
5.33%
2015 - Q1
29
$3,047,540
$105,087
$81,000
101
$57
Change
-27.50%
-19.42%
11.14%
-11.43%
-24.63%
1.79%
2015 - Q1
30
$8,520,222
$284,007
$189,950
119
$95
Change
57.89%
157.37%
63.00%
51.96%
-15.00%
37.68%
Price Trends: MLS Zone 19 – Tillman’s Corner
2014- Q1
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
40
$3,782,070
$94,551
$91,450
134
$56
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.
2014 - Q1
19
$3,310,450
$174,234
$125,000
140
$69
2015 | 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.
2014 - Q1
18
$1,357,059
$75,392
$51,179
106
$42
2015 - Q1
21
$1,627,751
$77,511
$30,000
107
$43
Change
16.67%
19.95%
2.81%
-41.38%
0.94%
2.38%
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.
2014 - Q1
45
$3,853,047
$85,623
$73,500
82
$49
2015 - Q1
42
$4,105,400
$97,747
$92,400
68
$60
Change
-6.67%
6.55%
14.16%
25.71%
-17.07%
22.45%
2015 - Q1
21
$2,415,300
$115,014
$115,000
92
$64
Change
16.67%
20.06%
2.91%
-8.00%
-10.68%
4.92%
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.
2014 - Q1
18
$2,011,700
$111,761
$125,000
103
$61
2015 | 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.
2014 - Q1
75
$13,726,328
$183,017
$158,000
126
$82
2015 - Q1
68
$12,659,280
$186,165
$177,882
85
$85
Change
-9.33%
-7.77%
1.72%
12.58%
-32.54%
3.66%
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.
2014 - Q1
71
$9,089,431
$128,020
$124,000
124
$68
2015 - Q1
67
$10,807,486
$161,305
$150,000
142
$76
Change
-5.63%
18.90%
26.00%
20.97%
14.52%
11.76%
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.
2014 - Q1
33
$3,255,890
$98,663
$105,000
99
$57
2015 - Q1
46
$5,700,928
$123,933
$125,450
116
$66
Change
39.39%
75.10%
25.61%
19.48%
17.17%
15.79%
2015 | 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.
2014 - Q1
37
$4,012,978
$108,458
$113,000
96
$62
2015 - Q1
40
$5,387,745
$134,693
$125,500
61
$75
Change
8.11%
34.26%
24.19%
11.06%
-36.46%
20.97%
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.
2014 - Q1
29
$4,463,448
$153,912
$148,900
105
$71
2015 - Q1
29
$4,830,910
$166,583
$137,000
100
$78
Change
0.00%
8.23%
8.23%
-7.99%
-4.76%
9.86%
Price Trends: MLS Zone 29 – NorthEast Mobile County/Mt. Vernon
2014 - Q1
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
8
$410,900
$51,362
$41,200
185
$36
2015 - Q1
9
$555,900
$61,766
$69,000
211
$44
Change
12.50%
35.29%
20.26%
67.48%
14.05%
22.22%
2015 | 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.
2014 - Q1
26
$6,287,400
$241,823
$227,250
141
$152
2015 - Q1
27
$6,328,645
$234,394
$199,000
218
$130
Change
3.85%
0.66%
-3.07%
-12.43%
54.61%
-14.47%
Price Trends: MLS Zone 31 – NorthWest Mobile County/Citronelle
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2014 - Q1
26
$6,287,400
$241,823
$227,250
141
$152
2015 - Q1
27
$6,328,645
$234,394
$199,000
218
$130
Change
3.85%
0.66%
-3.07%
-12.43%
54.61%
-14.47%
2015 | 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:
Don Epley, Director
Center for Real Estate & Economic Development
Email: depley@southalabama.edu
Phone: (251) 460-6735
This report was prepared by:
Paul Leon, 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.
2015 | Quarter 1
14