Baldwin Residential Real Estate
Center for Real Estate Studies
Baldwin Multi List
Go to: http://cres.southalabama.edu for more data
Report for the month of February 2011
BaldwinCounty Residential Market
(Total, North, Eastern Shore, Central, South, Gulf Beach)
Prices: The average sales price in Baldwin County for February increased 6.14 percent to $221,411 from
January, 2011. The median sales price increased 13.49 percent to $176,850. Median sale prices in the North
rose 30.34 percent, Eastern Shore rose 10.24 percent, and Gulf Beach increased12.02 percent. The South
decreased 39.77 percent to $97,000, and Central decreased 52.10 percent to $74,950.
Sales: Sales for the whole county rose 152 to 292, or 55.48 percent. They rose 63.61 percent to 11 in the North,
24.71 percent in the Eastern Shore, 20.83 percent in the Central area, and 12.87 percent for Gulf Beach. In the
South, sales decreased to 62 or 1.61 percent
Days on Market: Average days on the market for the whole county decreased from 211 in January to 198 in
February. The Eastern Shore increased by 3 to 189, by 61 to 185 in the North, and held constant in the Central
area. In the South this number decreased 9.15 percent, and fell to 198 from 263 or 32.83 percent in Gulf Beach.
U.S.: The number of homes sold in the U.S. increased by 13.8 percent in December. The median sales price fell
0.8 percent to $168,800, and the average sales price fell slightly to $217,900. The number of months required to
sell the existing inventory decreased to 8.2. The National Association of Realtors recommends a 6 to 8 month
range for a healthy market.
In general, the Baldwin residential market still reflects a national trend. The North, Eastern Shore, and Gulf
Beach areas show a modest increase in the median sales price, and the number of sales in the North increased
by 55.48 percent.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales
Price
Median
Sales
Price
Inventory
Months
Supply
$171,000
Dec-09
413,000
$218,700
$170,500
7.2
$170,000
Nov-10
355,000
$218,200
$170,200
9.6
$169,000
Dec-10
404,000
$217,900
$168,800
8.2
$168,000
13.8
-0.1
-0.8
-14.6
-2.2
-0.4
-1.0
13.9
Vs. Last
Month (%)
Vs. Last
Year (%)
Median Sales Price
$167,000
Dec-09
Nov-10
Dec-10
Data Sources: All data taken from the Baldwin Multi-List, Martha Taylor, Office: 251.947.3777, and the National Association of
Realtors: www.realtor.com.
For additional information: DeWayne Cochran, MLS Coordinator, Office: 251.947.3777 or Dr. Don Epley, Director, Center for
Real Estate Studies, Mitchell College of Business, University of South Alabama Office: 251.460.6735 or E-mail:
depley@usouthal.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.
Baldwin County Residential
For the Month of February 2011
Baldwin County
Areas
Total County
Jan-11
% vs prv mo
% vs prv year
North Baldwin
Jan-11
% vs prev mo
% vs prev year
Eastern Shore
Jan-11
% vs prev mo
% vs prev year
Central
Jan-11
% vs prev mo
% vs prev year
South
Jan-11
% vs prev mo
% vs prev year
Gulf Beach
Jan-11
% vs prev mo
% vs prev year
Average
Sale Price
Median
Sale Price
Number of
Sales
Average Days
on Market
$221,411
$176,850
292
189
$207,822
6.14
8.17
$153,000
13.49
13.94
130
55.48
22.26
211
-11.64
5.29
$124,514
$131,000
11
185
$74,100
40.49
36.81
$91,250
30.34
36.07
4
63.64
63.64
124
32.97
3.24
$246,212
$183,500
85
189
$197,856
19.64
10.72
$164,718
10.24
9.20
64
24.71
12.94
186
1.59
5.82
$97,088
$74,950
24
176
$121,324
-24.96
18.47
$114,000
-52.10
38.60
19
20.83
20.83
176
0.00
12.50
$136,671
$97,000
62
164
$122,000
10.73
-12.27
$135,579
-39.77
-18.30
63
-1.61
32.26
179
-9.15
15.24
$284,058
$233,000
101
198
$283,672
0.14
16.17
$205,000
12.02
18.26
88
12.87
14.85
263
-32.83
-0.51
Areas Defined as:
North
Eastern Shore
Central
South
Gulf Beach
Bay Minette, Stapleton, North Baldwin County
Spanish Fort, Daphne, Fairhope
Seminole, Loxley, Silverhill, Robertsdale, Summerdale
Bon Secour, Gulf Shores N-ICW, Magnolia Springs, Foley, Lillian, Elberta
Orange Beach, Gulf Shores S - ICW, Fort Morgan
Mobile Single-Family Real Estate
Center for Real Estate Studies
Mobile Area Multi-List
Additional data and information can be found at CRES website: http://cres.southalabama.edu
The Mobile Residential Market
Month of February 2011
Prices: The average sale price decreased from $123,470 in January to $122,476 in February. The median sale price rose
12.62 percent to $112,000 from $99,450.
Sales: The number of sales in February rose by 17.33 percent from January. Sales rose from 36 to 52 in the $100,000$149,999 range. Three sales occurred over $500,000, which is an increase from two sales in January, 2011, and February,
2010. The highest volume of sales was 113 in the $0-$99,999 bracket, which showed an increase from 102 in January.
Volume: The highest volume market was under $200,000 with 87.34 percent of the 237 total sales. Twenty-one properties
sold in the $200,000-$299,999 price range, 6 in the $300,000-$499,999 range, and only three above one-half million. In
February, 96.20 percent of all sales were $300,000 and lower. The number of sales in the $300,000-$499,999 bracket
decreased to six in February from nine sales in January, 2011.
Month’s-to-Sell Inventory: The average number of months-to-sell the existing inventory of properties fell from 16.63 in
January to 13.64 in February. To calculate this number, divide the 3235 properties for sale by the number of properties
sold, 237. From January to February, the properties for sale decreased 2.14 percent, and the number of sales increased
17.33 percent. Previous numbers were 15.77 months in February, 2010, and 13.94 in February, 2009. The latest U.S. rate
was 8.2 months in December, 2010.
U.S.: The latest figures for the U.S. market in December revealed a 13.8 percent increase in the number of sales from
November to December, 2010, and showed a 2.2 percent decrease from December, 2009. The average sale price fell
slightly to $217,900. The median sales price decreased 0.8 percent to $168,800 for the same period.
Mobile: Mobile’s month’s-to-sell rate of 13.64 compared to 8.2 for the U.S. shows that the Mobile market still contains
too much inventory. Over 87 percent of all Mobile sales occurred in the price range under $200,000, and over 96 percent
were under $300,000.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales
Price
Median
Sales
Price
Inventory
Months
Supply
$171,000
Dec-09
413,000
$218,700
$170,500
7.2
$170,000
Nov-10
355,000
$218,200
$170,200
9.6
$169,000
Dec-10
404,000
$217,900
$168,800
8.2
$168,000
13.8
-0.1
-0.8
-14.6
Vs. Last
Month (%)
Vs. Last
Year (%)
-2.2
-0.4
-1.0
Median Sales Price
$167,000
Dec-09
Nov-10
Dec-10
13.9
Data Sources: All data taken from the Mobile Area Association of Realtors, Jeff Newman, Office: 251.479.8654; and the National
Association of Realtors, www.realtor.com.
For additional information: Dr. Don Epley, Director, Center for Real Estate Studies, Mitchell College of Business, University of
South Alabama, Office: 251.460.6735, E-mail: depley@usouthal.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.
February 2011 Mobile County Single-Family Residential Report
Average Sales Price
$160,000
Median Sales Price
$160,000
$140,000
$140,000
$120,000
$120,000
$100,000
$100,000
$80,000
$80,000
$60,000
$60,000
$40,000
$40,000
$20,000
$20,000
$0
$0
Feb-08
Feb-09
Feb-10
Month
Ave. Sales
$
Feb-08
$150,769
Feb-09
$141,272
-6.30
Feb-10
$133,120
-5.77
Jan-11
$123,470
Feb-11
$123,470
Annual 09
$143,064
Annual 10
$128,160
Jan-11
vs. Last Year
(%)
Feb-11
Feb-08
vs. Last
Month (%)
Number of Sales
350
Feb-10
Jan-11
vs. Last
Year (%)
Month
Med. Sales $
Feb-08
$133,947
Feb-09
$127,000
-5.19
Feb-10
$120,000
-5.51
Jan-11
$99,450
Feb-11
$112,000
Annual 09
$127,000
Annual 10
$108,000
0.00
-10.42
Feb-09
Feb-11
vs. Last
Month (%)
12.62
-14.96
Month's Inventory
20
300
15
250
200
10
150
100
5
50
0
0
Feb-08
Feb-09
Feb-10
Jan-11
Month
# Sales
vs. Last Year
(%)
Feb-08
330
Feb-09
235
Feb-10
237
Jan-11
202
Feb-11
237
Annual 09
3472
Annual 10
2808
Feb-11
Feb-08
vs. Last
Month (%)
Feb-09
Month
Feb-10
Month's
Inventory
Jan-11
vs. Last
Year (%)
Feb-08
9.69
-28.79
Feb-09
13.94
43.86
0.85
Feb-10
15.77
13.13
Jan-11
16.36
Feb-11
13.64
Annual 09
12.42
Annual 10
15.29
17.33
-19.12
Feb-11
vs. Last
Month (%)
-16.63
23.11
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Feb-08
98
105
52
53
18
4
Feb-09
85
65
43
34
6
2
Feb-10
90
72
27
39
6
2
Jan-11
102
36
33
18
9
2
Feb-11
113
52
42
21
6
3
Ann. 09
1142
1090
612
588
143
71
Ann. 10
1266
753
358
276
118
37
120
100
Number
Month
Over $500K
Price Range of Sales
80
60
40
20
0
Feb-08
Feb-09
Feb-10
Jan-11
Feb-11