Mobile Residential Report: Historical Homes: Homes Over 75 Years Old

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Mobile Residential Report:
Historical Homes:
Homes Over 75 Years Old
May 2013 - May 2014
This report covers summary data of historical homes over 75 years old from the Mobile Area Multi-List. The
numbers cover all sold properties represented by real estate agents for the time period shown.
"Data you can use. Education you can use."
http://creed.southalabama.edu/
Mobile Area Association of Realtors
2827 Airport Blvd., Mobile, AL 36606
Telephone: 251.479.8654
www.mobilerealtor.com
Report Analysis by: Andrea Justiniano, Senior Research Associate
USA takes reasonable measures to ensure the quality of the data and other information produced. However, USA makes no warrant y,
express or implied, nor assumes any legal liability or responsibility for the accuracy, correctness, or completeness of any i nformation, 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.
Mobile Residential Historical Homes
May 2013 - May 2014
Average Sales Price
The average sales price for historical homes
sold in May, 2014, increased by 4.25% from
April. Compared to May, 2013, average sales
price decreased by 14.68%. In the period
between May, 2013, and May, 2014, the
highest average sales price reported was
$237,151 in January, 2014. The lowest
average sales price in the same period was
$38,333 in November, 2013.
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
$200,270
$132,515
$136,058
$134,286
$156,167
$216,400
$38,333
$202,669
$237,151
$134,833
$184,500
$163,920
$170,880
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
$194,500
$134,500
$52,750
$85,000
$152,000
$225,000
$45,000
$205,000
$222,250
$114,750
$136,000
$186,500
$185,000
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
10
13
6
7
12
5
3
7
4
6
5
5
5
$250,000
$200,000
$150,000
$100,000
$50,000
$0
May-13
Sep-13
Jan-14
May-14
Sep-13
Jan-14
May-14
Median Sales Price
Median sales price in May, 2014, decreased
by 0.8% from the previous month. Since last
year, median sales price decreased by 4.88%
from $194,500 to $185,000. In the last 12
months, the lowest median sales price
reported was $45,000 in November, 2013,
and the highest median sales price was
$225,000 in October, 2013.
$250,000
$200,000
$150,000
$100,000
$50,000
$0
May-13
Number of Sales
The number of sales of historical homes over
75 years old remained the same in March,
April, and May 2014 at 5 sales. Compared to
May, 2013, the number of sales decreased
by 50%. The trendline for the past 12 months
shows that the number of sales has been
decreasing. Since May, 2013, the month with
the most sales was June 2013 with 13 sales,
and the month with the least sales was
November, 2013 with 3 sales.
Page 2
14
12
10
8
6
4
2
0
May-13
Sep-13
Jan-14
May-14
Mobile Residential Historical Homes
May 2013 - May 2014
Average Days on the Market
Average days on the market (DOM)
increased from 22 days in April, to 109 days
in May, 2014. There was a 53.55% decrease
in DOM from May 2013 to May 2014.
Between May, 2013, and May, 2014, the
highest average DOM reported was 266 days
in October, 2013. The lowest average DOM
reported in the same period was 22 days in
April, 2014.
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
235.1
113.7
107.2
130.6
165.4
266.2
135
69.1
118.5
106.2
95.4
22
109.2
$150,000$199,999
2
1
0
0
4
0
0
0
0
1
0
0
2
$200,000$299,999
4
1
0
3
2
1
0
2
1
0
1
2
2
300
250
200
150
100
50
0
May-13
Sep-13
Jan-14
Price Range of Sold Properties
$0-$99,999
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
0
4
4
4
4
1
3
2
0
2
1
2
1
$100,000$149,999
3
6
1
0
1
1
0
1
2
2
2
1
0
Page 3
$300,000$499,999
1
1
1
0
1
2
0
2
1
1
1
0
0
Over
$500,000
0
0
0
0
0
0
0
0
0
0
0
0
0
Total
10
13
6
7
12
5
3
7
4
6
5
5
5
May-14
Mobile Residential Historical Homes
May 2013 - May 2014
Price Range of Sold Properties (continued)
14
Over $500,000
12
$300,000-$499,999
$200,000-$299,999
For the past 12 months, the majority of
historical homes sold were priced between
$0 and $99,999. Of the historical homes sold
in the same time frame, 66.91% of them were
under $200,000. For May 2014, most sales
occurred in the $150,000-$299,999 price
range. In May 2013, most sales occurred in
the $200,000-$299,999 price range.
10
$150,000-$199,999
$100,000-$149,999
8
$0-$99,999
6
4
2
0
May-13
Sep-13
Jan-14
May-14
Sales by MLS Zone
Area
01 Downtown
02 MidTown South
03 MidTown East
04 Dauphin Island Parkway North
07 MidTown West
09 MidCentral
10 Eight Mile/Prichard
11 Chickasaw
14 Municipal Park/West Central
15 Springhill/USA
16 Cottage Hill North
17 Cottage Hill South
18 West Mobile
19 Tillman's Corner
20 Western Bay Shores
21 Dauphin Island Parkway South
22 South Mobile County/Theodore
23 Grand Bay North
24 West Mobile County
25 West Mobile/Semmes
26 Semmes/Wilmer/Lott Rd
27 Saraland
28 Saraland/Satsuma/Axis/Creola
29 NorthEast Mobile County/Mt. Vernon
30 Dauphin Island
31 NorthWest Mobile County/Citronelle
TOTALS
# of Sales
9
13
50
2
1
0
0
6
0
0
0
1
0
0
2
0
2
0
0
0
0
0
0
1
0
1
88
Avg Sales
$137,400
$190,977
$183,679
$64,892
$21,000
$0
$0
$50,167
$0
$0
$0
$53,499
$0
$0
$209,500
$0
$193,500
$0
$0
$0
$0
$0
$0
$56,000
$0
$55,000
$162,790
Page 4
Median Sales
$95,000
$150,000
$174,950
$64,892
$21,000
$0
$0
$54,500
$0
$0
$0
$53,499
$0
$0
$209,500
$0
$193,500
$0
$0
$0
$0
$0
$0
$56,000
$0
$55,000
$144,900
This table reflects the total
number of sales and sales price
for each MLS zone from May
2013 to May 2014.
For the period between May 2013
and May 2014, 82.95% of
historical home sales occurred in
Downtown and MidTown, which
includes zones 1, 2, 3, 7, and 9. In
the same zones, MidTown East
had the majority of sales at
68.49%. Western Bay Shores had
the highest average sales price
median sales price at $209,500.
Mobile Residential Historical Homes
May 2013 - May 2014
Sales by MLS Zone (continued)
50
1
1
2
2
2
Page 5
9
13
Mobile Residential Historical Homes
May 2013 - May 2014
Sales by MLS Zone (continued)
1
1
6
Page 6
Source: All data is supplied by the Mobile Multi-List.
This report can be found on our website http://creed.southalabama.edu.
For further information, please contact:
Don Epley, Ph.D., MAI, CCIM
Director, CREED
Mitchell College of Business
University of South Alabama
Email: [email protected]
Report Analysis by:
Andrea Justiniano, MBA student
Senior Research Associate, CREED
Mitchell College of Business
University of South Alabama
Email: [email protected]
Page 7
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