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

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Mobile Residential Report:
Historical Homes:
Homes Over 75 Years Old
September 2012 - September 2013
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://cres.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, 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
September 2012 - September 2013
Average Sales Price
The average sales price for historical homes
sold in September, 2013, increased by 27.4%
from August. Compared to September, 2012,
average sales price decreased by 55.91%. In
the period between September, 2012, and
September, 2013, the highest average sales
price reported was $354,200 in September,
2012. The lowest average sales price in the
same period was $110,425 in October, 2012.
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
$354,200
$110,425
$177,493
$158,975
$170,313
$187,717
$116,267
$194,111
$200,270
$132,515
$136,058
$122,583
$156,167
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
$150,000
$107,500
$172,950
$86,500
$153,500
$168,250
$78,750
$180,250
$194,500
$134,500
$52,750
$77,500
$152,000
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
5
8
7
4
4
6
6
9
10
13
6
6
12
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Sep-12
Jan-13
May-13
Sep-13
Jan-13
May-13
Sep-13
Median Sales Price
Median sales price in September, 2013,
increased by 96.13% from the previous
month. Last year's median sales price in
September was $150,000. Therefore, it
increased by 1.33% to September, 2013. In
the last 12 months, the lowest median sales
price reported was $52,750 in July, 2013, and
the highest median sales price was $194,500
in May, 2013.
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Sep-12
Number of Sales
The number of sales of historical homes over
75 years old increased by 100.00% in
September compared to August. Compared
to September, 2012, the number of sales
increased by 140%. The trendline for the past
12 months shows that the number of sales
sharply increased from December, 2012 to
June, 2013, then dropped during July and
August, 2013, and picked up again in
September 2013.
Page 2
14
12
10
8
6
4
2
0
Sep-12
Jan-13
May-13
Sep-13
Mobile Residential Historical Homes
September 2012 - September 2013
Average Days on the Market
Average days on the market (DOM)
increased from 150 in August, 2013, to 165 in
September. This change was a 10% increase
in DOM. The difference between September,
2012, and September, 2013, was a 10%
increase as well. Between September, 2012,
and September, 2013, the highest average
DOM reported was 287 days in December,
2012. The lowest average DOM reported in
the same period was 107 days in July, 2013.
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
150
280
108
287
128
139
192
122
235
114
107
150
165
$150,000$199,999
1
2
2
0
1
4
0
3
2
1
0
0
4
$200,000$299,999
0
1
1
0
1
0
2
3
4
1
0
2
2
350
300
250
200
150
100
50
0
Sep-12
Jan-13
May-13
Price Range of Sold Properties
$0-$99,999
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
1
4
1
2
0
1
4
1
0
4
4
4
4
30
$100,000$149,999
1
1
2
1
2
0
0
1
3
6
1
0
1
19
20
Page 3
$300,000$499,999
0
0
1
1
0
1
0
1
1
1
1
0
1
17
Over
$500,000
2
0
0
0
0
0
0
0
0
0
0
0
0
8
2
Total
5
8
7
4
4
6
6
9
10
13
6
6
12
Sep-13
Mobile Residential Historical Homes
September 2012 - September 2013
Price Range of Sold Properties (continued)
14
Over $500,000
12
For the past 12 months, the majority of
historcal homes sold were priced between $0
and $99,999. Of the historical homes sold in
the same time frame, 71.87% of them were
under $200,000. For September, 2013, most
sales occurred in the $0-$99,999 and
$150,000 to $199,999 price ranges. On the
other hand, most historical home sales in
Septeber, 2012, were in the $500,000+ price
range.
$300,000-$499,999
$200,000-$299,999
10
$150,000-$199,999
$100,000-$149,999
8
$0-$99,999
6
4
2
0
Sep-12
Jan-13
May-13
Sep-13
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
17
54
1
2
0
0
5
1
2
1
1
0
0
1
0
2
0
0
0
0
0
0
0
0
0
96
Avg Sales
$131,267
$159,332
$203,435
$21,850
$115,650
$0
$0
$57,200
$20,000
$110,975
$86,000
$53,499
$0
$0
$52,000
$0
$44,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$166,002
Page 4
Median Sales
$113,000
$154,000
$165,750
$21,850
$115,650
$0
$0
$68,000
$20,000
$110,975
$86,000
$53,499
$0
$0
$52,000
$0
$44,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$148,450
This table reflects the total
number of sales and sales price
for each MLS zone from
September, 2012, to September,
2013.
For the period between
September, 2012, and
September, 2013, 85.42% 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
56.25%. Also, MidTown East had
the highest average sales price at
$203,435 as well as the highest
median price at $165,750.
Mobile Residential Historical Homes
September 2012 - September 2013
Sales by MLS Zone (continued)
1
2
54
2
9
1
1
1
2
1
Page 5
17
Mobile Residential Historical Homes
September 2012 - September 2013
Sales by MLS Zone (continued)
5
Page 6
Source: All data is supplied by the Mobile Multi-List.
This report can be found on our website http://cres.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
Research Associate, CREED
Mitchell College of Business
University of South Alabama
Email: [email protected]
Page 7
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