Center for Real Estate and Economic Development
Mobile Area Multi-List
Month of November, 2014
Go to: http://creed.southalabama.edu
for more data
Prices: For the month of November, 2014, the average sales price decreased from $133,222 in October to $128,716, a
3.38 percent change. The median sales price increased from $113,500 to $119,900 in the same period, or by 5.64 percent.
Sales: The number of sales in November decreased by 13.14 percent since October, having a total of 271 sales. Compared to last year, total sales increased by 6.27 percent, or from 255 to 271 sales.
Volume: Of the 271 total sales, 224 sales were under $200,000, representing 82.66 percent of the entire market. In
November, 2013, sales under $200,000 represented 81.57 percent of total sales. Compared to November, 2013, sales in the $0-$99,999 range decreased by 5.98 percent, or from 117 sales to 110 sales. In the same time period, sales in the
$100,000-$149,999 range increased by 16.95 percent, or from 59 sales to 69 sales in November, 2014.
Months-to-Sell Inventory: The average number of months to sell the existing inventory of properties in November increased by 16.23 percent, or from 9.12 in October to 10.60 in November. Compared to last year, the month’s inventory decreased by 12.69 percent, or from 12.14 to 10.60 in November, 2014.
U.S.: The U.S. market in September showed a 9.0 percent decrease in sales from August. Average sales price decreased by 3.3 percent since August, and increased by 3.5 percent from the previous year . Median sales price decreased by
4.3 percent, or from $218,400 to $209,100. Compared to September, 2013, median sales price increased by 5.3 percent, or from $198,500 to $209,100. Inventory month’s supply decreased from 5.5 to 5.3 since August, 2014.
Overall Analysis: For November, the Mobile housing market showed decreases in average sales price and number of sales, while showing increases in median sales price and month’s inventory supply since October. Per the latest national housing statistics, the U.S. market in September showed a decrease in sales, average and median sales prices, and inventory month’s supply since August 2014.
Time
Sep-13
Aug-14
Sales
427,000
479,000
Average
Sales Price
Median Sales
Price
Inventory
Months Supply
$220,000
$246,300 $198,500 5.0
$210,000
$263,800 $218,400 5.5
$200,000
Sep-14 436,000 $255,000 $209,100 5.3
Vs. Last
Month (%)
-9.0 -3.3 -4.3 -3.6
$190,000
Vs. Last
Year (%)
2.1 3.5 5.3 6.0
$180,000
Sep-13 Aug-14 Sep-14
Data Sources: All data taken from the Mobile Area Association of Realtors, Office: 251.479.8654; and the National Association of
Realtors, www.realtor.org
.
Report by : Paul Leon, Research Associate
For additional information: Dr. Don Epley, Director, Center for Real Estate and Economic Development, Mitchell College of
Business, University of South Alabama, Office: 251.460.6735, E-mail: depley@southalabama.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
$160,000
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$0
Nov-11 Nov-12 Nov-13 Oct-14 Nov-14
Month
Avg. Sales
$
$111,620 Nov-11
Nov-12
Nov-13
Oct-14
Nov-14
$135,213
$128,411
$133,222
$128,716
Annual 12 $126,183
Annual 13 $129,105 vs. Last Year
(%)
21.14
-5.03
2.32
vs. Last
Month (%)
-3.38
Median Sales Price
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$0
Nov-11 Nov-12 Nov-13 Oct-14 Nov-14
Month
Nov-11
Nov-12
Nov-13
Oct-14
Nov-14
Annual 12
Annual 13
Med. Sales $
$91,750
$111,250
$112,000
$113,500
$119,900
$105,000
$109,900 vs. Last
Year (%) vs. Last
Month (%)
21.25
0.67
4.67
5.64
350
300
250
200
150
100
50
0
Number of Sales Month's Inventory
14.00
12.00
10.00
8.00
6.00
4.00
2.00
0.00
Nov-11 Nov-12 Nov-13 Oct-14 Nov-14 Nov-11 Nov-12 Nov-13 Oct-14 Nov-14
Nov-11
Nov-12
Nov-13
Oct-14
Nov-14
Ann. 12
Ann. 13
Month
Nov-11
Nov-12
Nov-13
Oct-14
Nov-14
Annual 12
Annual 13
# Sales
262
256
255
312
271
3476
3915 vs. Last Year
(%) vs. Last
Month (%)
-2.29
-0.39
12.63
-13.14
Month 0-$99,999
$100,000-
$149,999
139
115
117
133
110
1664
1810
60
65
59
75
69
794
887
$150,000-
$199,999
33
38
32
45
45
496
515
$200,000-
$299,999
$300,000-
$499,999
23
26
33
43
40
364
486
Price Range of Sales
4
8
11
14
5
106
180
3
4
3
2
2
52
37
160
140
120
100
80
60
40
20
0
Month
Nov-11
Nov-12
Nov-13
Oct-14
Nov-14
Annual 12
Annual 13
Month's
Inventory
13.01
12.09
12.14
9.12
10.60
10.82
9.47
vs. Last
Year (%) vs. Last
Month (%)
-7.07
0.41
-12.48
16.23
Nov-11 Nov-12 Nov-13 Oct-14 Nov-14