Baldwin Residential Real Estate
Center for Real Estate Studies
Baldwin Multi List
Go to http://cres.southalabama.edu for more data
Report for the period ending September, 2010
Baldwin County Residential Market (Total, North, Central, South)
This snapshot view of the residential housing market is designed to provide a useful source of data and
information. We hope you find it useful. Comments are always welcome.
The average sales price in Baldwin County for September increased 17.96 percent to $233,518, and the median
sales price increased 3.66 percent to $165,750. Median sale prices in the North also showed a dramatic increase
of 18.82 percent to $190,000, the Central median sales price increased 6.46 percent to $150,000, and the South
increased 3.08 percent to $239,400.
Sales rose to 21 in the North, decreased to 137 in the Central Area, and fell by 23.91 percent to 70 in the South.
For the whole county, sales decreased by 40 to 228.
Average days on the market for the whole county decreased from 178 in August to 164 in September. This
decrease was primarily due to the 38.43 percent decrease in the North. In the South it decreased to 172, the
Central region slightly increased to 164 from 160 in August, and the North fell from 229 in August to 141 in
September 2010.
The number of homes sold in the U.S. decreased by 29.5 percent in July. The median sales price fell 0.5 percent
to $182.100. The number of months required to sell the existing inventory increased to 12.5. The National
Association of Realtors recommends a 6 to 8 month range for a healthy market.
The second page shows MLS data for the three Baldwin County areas. North is north of I-10. Central is
between I-10 and the International Waterway. South is south of the Waterway. Data for the Total County are
explained above.
United States Existing Home Prices for All Housing Types
Time
Sales
Jul-09
532,000
Average
Sales
Price
$227,200
$181,300
Inventory
Month
Supply
9.5
Jun-10
555,000
$230,000
$183,000
8.9
Jul-10
Vs. Last
Month
(%)
Vs. Last
Year (%)
391,000
$231,700
$182,100
12.5
-29.5
0.7
-0.5
40.4
-26.5
2.0
0.4
31.6
Median
Sales Price
Median Sales Price
$183,500
$183,000
$182,500
$182,000
$181,500
$181,000
$180,500
$180,000
Jul-09
Jun-10
Jul-10
Data Sources: All data taken from the Baldwin Multi-List, Martha Taylor, Office: 251.928.1708, and the National Association of
Realtors, www.realtor.com. For additional information, contact 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.
September 2010 Baldwin County Residential Report
North Number of Sales
North Average Sales Price
25
$300,000
20
$200,000
15
10
$100,000
5
$0
0
Sep-07
Sep-08
Month
Sep-09
Ave. Sales $
Aug-10
Sep-10
Sep-07
Sep-08
Sep-09
% Change
Month
# Sales
Sep-07
-19.86
-25.08
Sep-08
20
21
22
17
21
235
226
Sep-07
$247,787
Sep-08
$198,586
Sep-09
$148,777
Aug-10
$190,635
Sep-10
$223,198
17.08
Sep-10
Annual 08
Annual 09
$204,185
$176,458
-13.58
Annual 08
Annual 09
Sep-09
Aug-10
Aug-10
Sep-10
% Change
5.00
4.76
23.53
-3.83
Central Number of Sales
Central Average Sales Price
170
$250,000
160
$200,000
$150,000
150
$100,000
140
$50,000
130
$0
120
Sep-07
Month
Ave. Sales $
Sep-07
$235,951
$197,929
$191,506
$162,122
$170,999
$223,901
$183,317
Sep-08
Sep-09
Aug-10
Sep-10
Annual 08
Annual 09
% Change
Sep-08
Sep-09
Month
# Sales
Sep-07
146
145
156
159
137
1561
1597
-16.11
-3.25
Sep-08
Sep-09
Aug-10
5.48
Sep-10
-18.13
Annual 08
Annual 09
Aug-10
Sep-10
% Change
-0.68
7.59
-13.84
2.31
South Number of Sales
South Average Sales Price
150
$500,000
$400,000
100
$300,000
$200,000
50
$100,000
0
$0
Sep-07
Sep-08
Month
Sep-07
Sep-08
Sep-09
Aug-10
Sep-10
Annual 08
Annual 09
Sep-09
Aug-10
Sep-10
Ave. Sales $ % Change
$436,613
$395,253
$319,319
$261,263
$358,974
$404,927
$311,532
-9.47
-19.21
Sep-07
Sep-08
Sep-09
Month
# Sales
Sep-07
62
73
135
92
70
943
1241
Sep-08
Sep-09
Aug-10
37.40
Sep-10
-23.06
Annual 08
Annual 09
Aug-10
Sep-10
% Change
17.74
84.93
-23.91
31.60
Mobile Single-Family Real Estate
Center for Real Estate Studies
Mobile Area Multi-List
Additional data and information can be found at http://cres.southalabama.edu
Month of September, 2010
Market Beginning to Level
The number of sales rose by 3.67 percent to 254 in September. However, the average sale price decreased from
$135,504 to $124,697. Sales fell from 69 to 63 in the $100,000-$149,999 range. Two sales occurred over $500,000
compared to four sales in September, 2009, and four in September, 2007. The highest volume of sales was 109 in the
$0-$99,999 bracket, which showed an increase from 98 in August. The median sale price fell to $114,150 in
September from $117,000 in August, 2010. The Mobile market is still slowing, but beginning to level.
The average number of months to sell the existing inventory of properties decreased to 15.07. This number is
calculated by dividing the number of properties for sale, 3830, by the number of sales, 254. From August to
September, the properties for sale decreased and the number of sales increased. This number was 10.87 in September,
2009, and 15.96 in August, 2010. The U.S. rate was 12.5 in July, 2010.
The highest volume market was under $200,000. Of the 254 total sales in September, 216 or 85.04 percent, were in
this price range. Twenty-six properties sold in the $200,000-$299,999 price range, eight in the $300,000-$499,999
range, and only two above one-half million. In August, 95.28 percent of all sales were $300,000 and lower. The
number of sales in the $300,000-$499,999 bracket decreased to 8 in September from 13 in August, 2010.
The latest figures for the U.S. market in July revealed a 29.5 percent decrease in the number of sales from June to July
2010, and a 26.5 percent decrease from July, 2009 to July, 2010. The average sale price rose by 0.7 percent to
$231,700. The median price decreased 0.5 percent to $182,100 for the same period.
The Mobile market struggled in August compared to the national average in July. This month’s absorption rate of
15.07 compared to 12.5 for the U.S. shows that the Mobile market still contains too much inventory. Over 85 percent
of all Mobile sales occurred in the price range under $200,000, and over 95 percent was under $300,000.
United States Existing Home Prices for All Housing Types
Time
Sales
Jul-09
532,000
Average
Sales
Price
$227,200
Median
Sales
Price
$181,300
Inventory
Month
Supply
9.5
Jun-10
555,000
$230,000
$183,000
8.9
Jul-10
Vs. Last
Month
(%)
Vs. Last
Year
(%)
391,000
$231,700
$182,100
12.5
-29.5
0.7
-0.5
40.4
-26.5
2.0
0.4
31.6
Median Sales Price
$183,500
$183,000
$182,500
$182,000
$181,500
$181,000
$180,500
$180,000
Jul-09
Jun-10
Jul-10
Data Sources: All data taken from the Mobile Area Association of Realtors, Jeff Newman, 251.479.8654; and the National
Association of Realtors, www.realtor.com. For additional information, contact: Dr. Don Epley, Director, Center for Real Estate
Studies, 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.
September 2010 Mobile County Single-Family Residential Report
Average Sales Price
$200,000
Median Sales Price
$160,000
$140,000
$120,000
$150,000
$100,000
$100,000
$80,000
$60,000
$50,000
$40,000
$20,000
$0
$0
Sep-07
Month
Sep-08
Ave. Sales
$
Sep-09
Aug-10
vs. Last Year
(%)
Sep-10
Sep-07
vs. Last
Month (%)
Month
Sep-08
Sep-09
Med. Sales $
Aug-10
vs. Last
Year (%)
Sep-07
$140,850
Sep-07
$127,900
Sep-08
$156,880
11.38
Sep-08
$139,250
8.87
Sep-09
$138,608
-11.65
Sep-09
$125,000
-10.23
Aug-10
$135,504
Sep-10
$124,697
Annual 08
$153,089
Annual 09
$143,064
-6.55
Number of Sales
400
Aug-10
$117,000
Sep-10
$114,150
Annual 08
$133,850
Annual 09
$127,000
-7.98
15
200
10
100
5
0
vs. Last
Month (%)
-2.44
-5.12
Month's Inventory
20
300
Sep-10
0
Sep-07
Sep-08
Sep-09
Aug-10
vs. Last Year
(%)
Sep-10
Sep-07
vs. Last
Month (%)
Sep-08
Sep-09
Month
Month's
Inventory
Sep-07
8.61
Aug-10
vs. Last
Year (%)
Month
# Sales
Sep-07
365
Sep-08
352
-3.56
Sep-08
9.91
15.10
Sep-09
330
-6.25
Sep-09
10.87
9.69
Aug-10
245
Aug-10
15.96
Sep-10
254
Sep-10
15.07
Annual 08
10.33
Annual 09
12.42
Annual 08
4106
Annual 09
3472
3.67
-15.44
Sep-10
vs. Last
Month (%)
-5.58
20.23
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Sep-07
123
113
67
44
14
4
Sep-08
99
95
69
60
26
3
Sep-09
109
105
55
47
10
4
Aug-10
98
69
37
25
13
3
Sep-10
109
63
44
26
8
2
Ann. 08
1248
1234
764
588
204
71
Ann. 09
1142
1090
612
450
143
34
Number
Month
Over $500K
Price Range of Sales
140
120
100
80
60
40
20
0
Sep-07
Sep-08
Sep-09
Aug-10
Sep-10