Mobile Single-Family Real Estate
Center for Real Estate and Economic Development
Mobile Area Multi-List
Go to: http://creed.southalabama.edu for more data
Month of October, 2014
Mobile County Residential Market
Prices: For the month of October, 2014, the average sales price decreased from $36,776 in September to $132,368, a 3.22
percent change. The median sales price decreased from $120,000 to $112,500 in the same period, or by 6.25 percent.
Sales: The number of sales in October decreased by 3.18 percent since September, having a total of 304 sales. Compared
to last year, total sales increased by 2.01 percent, or from 298 to 304 sales.
Volume: Of the 304 total sales, 245 sales were under $200,000, representing 80.92 percent of the entire market. In
October, 2013, sales under $200,000 represented 82.55 percent of total sales. Compared to October, 2013, sales in the $0$99,999 range decreased by 13.33 percent, or from 150 sales to 130 sales. In the same time period, sales in the $100,000$149,999 range increased by 17.74 percent, or from 62 sales to 73 sales in October, 2014.
Months-to-Sell Inventory: The average number of months to sell the existing inventory of properties in October
increased by 1.31 percent, or from 9.16 in September to 9.28 in October. Compared to last year, the month’s inventory
decreased by 12.78 percent, or from 10.64 to 9.28 in October, 2014.
U.S.: The U.S. market in August showed a 3.0 percent decrease in sales from July. Average sales price decreased by
1.4 percent since July, and increased by 2.8 percent from the previous year. Median sales price decreased by 1.4
percent, or from $221,600 to $218,400. Compared to August, 2013, median sales price increased by 4.1 percent, or from
$209,700 to $218,400. Inventory month’s supply remained at 5.5.
Overall Analysis: For October, the Mobile housing market showed decreases in average sales price, median sales price,
and number of sales, and showed an increase in month’s inventory supply since September. Per the latest national housing
statistics, the U.S. market in August showed a decrease in sales, average and median sales prices, while inventory month’s
supply remained the same since July 2014.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales Price
Median Sales
Price
Inventory
Months Supply
Median Sales Price
$225,000
Aug-13
518,000
$256,600
$209,700
5.0
Jul-14
494,000
$267,500
$221,600
5.5
Aug-14
479,000
$263,800
$218,400
5.5
Vs. Last
Month (%)
-3.0
-1.4
-1.4
0.0
$205,000
10.0
$200,000
Aug-13
Vs. Last
Year (%)
-7.5
2.8
4.1
$220,000
$215,000
$210,000
Jul-14
Aug-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: Andrea Justiniano, Senior 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.
October 2014 Mobile County Single-Family Residential Report
Average Sales Price
$160,000
Median Sales Price
$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
Oct-11
Oct-12
Oct-13
Sep-14
Oct-11
vs. Last
Month (%)
Oct-12
Oct-13
Sep-14
Month
Avg. Sales
$
Oct-11
$109,866
Oct-11
$89,450
Oct-12
$126,095
14.77
Oct-12
$105,000
17.38
Oct-13
$124,217
-1.49
Oct-13
$99,900
-4.86
Sep-14
$136,776
Sep-14
$120,000
Oct-14
$132,368
Oct-14
$112,500
Annual 12
Annual 13
$126,183
Annual 12
Annual 13
$105,000
$109,900
$129,105
vs. Last Year
(%)
$0
Oct-14
Month
-3.22
2.32
Number of Sales
320
12.00
300
10.00
290
8.00
280
6.00
270
4.00
260
2.00
250
vs. Last
Year (%)
vs. Last
Month (%)
-6.25
4.67
Month's Inventory
14.00
310
Med. Sales $
Oct-14
0.00
Oct-11
Oct-12
Oct-13
Sep-14
Month
# Sales
vs. Last Year
(%)
Oct-11
276
Oct-12
291
Oct-13
298
Sep-14
314
Oct-14
304
Annual 12
3476
Annual 13
3915
Oct-14
Oct-11
vs. Last
Month (%)
Oct-12
Oct-13
Sep-14
Month
Month's
Inventory
Oct-11
12.69
5.43
Oct-12
10.71
-15.60
2.41
Oct-13
10.64
-0.65
Sep-14
9.16
Oct-14
9.28
Annual 12
10.82
Annual 13
9.47
-3.18
12.63
vs. Last
Year (%)
Oct-14
vs. Last
Month (%)
1.31
-12.48
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Oct-11
151
57
36
22
9
1
Oct-12
138
65
41
34
9
4
Oct-13
150
62
34
36
14
2
Sep-14
125
84
44
44
16
1
Oct-14
130
73
43
43
14
1
Ann. 12
1664
794
496
364
106
52
Ann. 13
1810
887
515
486
180
37
Number
Month
Over $500K
Price Range of Sales
160
140
120
100
80
60
40
20
0
Oct-11
Oct-12
Oct-13
Sep-14
Oct-14