Go to http://cres.southalabama.edu
for more data
Report for the period ending August, 2010
( 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 August decreased 7.83 percent to $199,160, and the median sales price declined 5.94 percent to $159,900. Median sale prices in the North showed a dramatic increase of 17.15 percent to $157,450, the Central median decreased 0.74 percent to $140,450, and the South increased 4.1 percent to $234,750.
Sales fell to 16 in the North, increased to 90 in the South, and grew to 154 in the Central area. For the whole county, sales increased by 21 to 260.
Average days on the market for the whole county increased from 176 in July to 179 in August. The South increased to 201, the Central region declined to 160, and the North increased from 165 in July to 236 in August.
The number of homes sold in the U.S. increased by 5.5 percent in June. The median sales price increased 4.8 percent to $183.000. The number of months required to sell the existing inventory increased to 8.9. 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.
Time Sales
Average
Sales
Price
Median
Sales Price
Inventory
Month
Supply
$200,000
Med. Sales Price
$190,000
Jun-09 521,000 $227,800 $181,800 9.4
$180,000
May-10 526,000 $220,900 $174,600 8.3
5.5 4.1 4.8
8.9
7.2
$170,000
Jun-10
Vs. Last
Month
(%)
555,000 $230,000 $183,000
$160,000
$150,000
Jun-09 May-10 Jun-10
Vs. Last
Year (%)
6.5 1.0 0.7 -5.3
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.

$300,000
$200,000
$100,000
$0
North Average Sales Price North Number of Sales
30
20
10
0
Aug-07 Aug-08 Aug-09 Jul-10 Aug-10
Aug-07 Aug-08 Aug-09 Jul-10 Aug-10
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Month Ave. Sales $ % Change
Aug-07 $214,004
Aug-08
Aug-09
Jul-10
Aug-10
$247,434
$189,285
$196,775
$186,456
Annual 08 $204,185
Annual 09 $176,458
15.62
-23.50
-5.24
-13.58
Central Average Sales Price
Month Ave. Sales $ % Change
Aug-07
Aug-08
Aug-09
Jul-10
Aug-10
$221,800
$236,331
$194,843
$178,708
$162,712
Annual 08 $223,901
Annual 09 $183,317
6.55
-17.56
-8.95
-18.13
South Average Sales Price
$500,000
$400,000
$300,000
$200,000
$100,000
$0
Aug-07 Aug-08 Aug-09 Jul-10 Aug-10
Month Ave. Sales $ % Change
Aug-07 $464,586
Aug-08
Aug-09
Jul-10
Aug-10
$427,514
$374,579
$293,542
$263,785
Annual 08 $404,927
Annual 09 $311,532
-7.98
-12.38
-10.14
-23.06
Month
Aug-07
Aug-08
Aug-09
Jul-10
Aug-10
Annual 08
Annual 09
# Sales % Change
25
17
20
24
16
235
226
-32.00
17.65
-33.33
-3.83
Central Number of Sales
100
80
60
40
20
0
250
200
150
100
50
0
Aug-07 Aug-08 Aug-09 Jul-10 Aug-10
Month
Aug-07
Aug-08
Aug-09
Jul-10
Aug-10
Annual 08
Annual 09
# Sales % Change
195
162
146
141
154
1561
1597
-16.92
-9.88
9.22
2.31
South Number of Sales
Aug-07 Aug-08 Aug-09 Jul-10 Aug-10
Month
Aug-07
Aug-08
Aug-09
Jul-10
Aug-10
Annual 08
Annual 09
# Sales % Change
82
87
94
74
90
943
1241
6.10
8.05
21.62
31.60

Center for Real Estate Studies
Mobile Area Multi-List
Additional data and information can be found at http://cres.southalabama.edu
Month of August, 2010
The number of sales fell by 12 percent to 242 in August. The average sale price also decreased from $145,490 to
$136,202. The number of sales dropped or held constant in every price range. Sales dropped from 32 to 26 in the
$200,000-$299,999 range. Three sales occurred over $500,000 compared to six sales in August, 2009, and nine in
August, 2007. The highest volume of sales was 97 in the $0-$99,999 bracket which still showed a decline from 111 in
July. The median sale price rose to $118,250 from $117,000 in July. The Mobile market is still slowing.
The average number of months to sell the existing inventory of properties increased to 16. The number is calculated by dividing the number of properties for sale, 3874, by the number of sales, 242. From July to August, the properties for sale and the number of sales decreased. This number was 11.43 in August, 2009, and 14.46 in July, 2010. The U.S. rate was 8.9 in June, 2010.
The highest volume market was under $200,000. Of the 242 total sales in August, 200 or 82.64 percent, were in this price range. Twenty-six properties sold in the $200,000-$299,999 price range, thirteen in the $300,000-$499,999 range, and three above one-half million. In August, 93.39 percent of all sales were $300,000 and lower. The number of sales in the $300,000-$499,999 bracket decreased to 13.
The latest figures for the U.S. market in June revealed a 5.5 percent increase in the number of sales from May to June
2010, and a 6.5 percent increase from June, 2009 to June, 2010. The average sale price rose by 4.1 percent to
$230,000. The median price increased 4.8 percent to $183,000 for the same period.
The Mobile market struggled in August compared to the national average. This month’s absorption rate of 16 compared to 8.9 for the U.S. shows that the Mobile market still contains too much inventory. Almost 83 percent of all
Mobile sales occurred in the price range under $200,000, and over 93 percent was under $300,000.
Time Sales
Average
Sales
Price
Median
Sales
Price
Inventory
Month
Supply
$200,000
$190,000
Med. Sales Price
Jun-09 521,000 $227,800 $181,800 9.4
$180,000
May-10 526,000 $220,900 $174,600 8.3
$170,000
Jun-10 555,000 $230,000 $183,000 8.9
$160,000
Vs. Last
Month
(%)
5.5 4.1 4.8 7.2
$150,000
Jun-09 May-10 Jun-10
Vs. Last
Year 6.5 1.0 0.7 -5.3
(%)
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.

Average Sales Price
$155,000
$150,000
$145,000
$140,000
$135,000
$130,000
$125,000
Aug-07 Aug-08 Aug-09 Jul-10 Aug-10
Month
Ave. Sales
$
$152,652 Aug-07
Aug-08
Aug-09
Jul-10
Aug-10
$152,889
$143,690
$145,490
$136,202
Annual 08 $153,089
Annual 09 $143,064 vs. Last Year
(%) vs. Last
Month (%)
0.16
-6.02
-6.55
-6.38
Median Sales Price
$140,000
$135,000
$130,000
$125,000
$120,000
$115,000
$110,000
$105,000
Aug-07 Aug-08 Aug-09 Jul-10 Aug-10
Month Med. Sales $ vs. Last
Year (%) vs. Last
Month (%)
Aug-07
Aug-08
Aug-09
Jul-10
Aug-10
Annual 08
Annual 09
$133,000
$137,450
$126,750
$117,000
$118,250
$133,850
$127,000
3.35
-7.78
-5.12
1.07
Number of Sales
500
400
300
200
100
0
Month
Aug-07
Aug-08
Aug-09
Jul-10
Aug-10
Annual 08
Annual 09
Aug-07 Aug-08
# Sales
461
350
316
275
242
4106
3472
Aug-09 Jul-10 Aug-10 vs. Last Year
(%) vs. Last
Month (%)
-24.08
-9.71
-15.44
-12.00
20
15
10
5
0
Month's Inventory
Price Range of Sales
Aug-07
Month
Aug-07
Aug-08
Aug-09
Jul-10
Aug-10
Annual 08
Annual 09
Aug-08
Month's
Inventory
6.65
10.06
11.43
14.46
16
10.33
12.42
Aug-09 Jul-10 vs. Last
Year (%)
51.28
13.62
20.23
Aug-10 vs. Last
Month (%)
10.65
Month 0-$99,999
$100,000-
$149,999
$150,000-
$199,999
$200,000-
$299,999
$300,000-
$499,999
Aug-07
Aug-08
Aug-09
Jul-10
Aug-10
Ann. 08
Ann. 09
142
99
109
111
97
1248
1142
139
113
100
67
67
1234
1090
96
61
57
47
36
764
612
56
54
36
32
26
588
450
19
20
7
14
13
204
143
6
3
9
3
3
71
34
160
140
120
100
80
60
40
20
0
Aug-07 Aug-08 Aug-09 Jul-10 Aug-10