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
Month of March, 2012
The Mobile Residential Market
Prices: The average sales price decreased slightly from $114,866 in February, 2012 to $114,583 in March, a 0.25 percent
change. The median sales price increased, however, by 10.47 percent – from $85,000 to $93,900.
Sales: The number of sales greatly increased by 43.04 percent from February. The number of sales in the $0-$99,999
range increased from 138 to 175, a 26.81 percent change. Eighty-one sales occurred in the range of $100,000 -$149,000,
an increase of 131.43 percent from only 35 sales in February, 2012. The sales in the $150,000-$199,000 range also saw a
large increase of 75.0 percent, or 21 more sales. The number of sales in the $200,000-$299,999 range was 23, which was a
decrease by 4 sales, or 14.81 percent, compared to last month.
Volume: Of the 339 total sales in March, 305 sales were under $200,000, comprising 89.97 percent of the entire market.
Six sales occurred in the $300,000-$499,999 range, which increased by one sale since the previous month. Thus, 96.76
percent of all sales in March, 2012, were below $300,000.
Month’s-to-Sell Inventory: The average number of months to sell the existing inventory of properties in March
decreased from 12.93 in February to 8.73, a 32.48 percent change. Compared to March of last year, there was a decrease
by 25.19 percent, from 11.67 to 8.73 in March, 2012.
U.S.: The latest figures for the U.S. market in January showed a decrease of 25.5 percent in sales from December, 2011,
and showed a 5.3 percent decrease compared to January of last year. The average sales price decreased to $200,900,
which resulted in a 4.1 percent change. The median sales price decreased by 4.7 percent in January, from $162,200 to
$154,600. The inventory month’s supply was 6.0 months in January, a 6.3 percent decrease from December, 2011, and a
22.1 percent decrease from January, 2011.
Overall Analysis: For the month of March, the Mobile housing market showed an increase in number of sales by 43.04
percent compared to February. Median sales price also increased in March by 10.47 percent. However, average sales price
and month’s inventory each showed decreases of 0.25 percent and 32.48 percent, respectively, in March, 2012.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales
Price
Median
Sales Price
Inventory
Months
Supply
Jan-11
247,000
$205,800
$157,900
7.7
Dec-11
349,000
$209,500
$162,200
6.4
Jan-12
260,000
$200,900
$154,600
6.0
Vs. Last
Month
(%)
-25.5
-4.1
-4.7
-6.3
Vs. Last
Year (%)
5.3
-2.4
-2.1
-22.1
$164,000
$162,000
$160,000
$158,000
$156,000
$154,000
$152,000
$150,000
Jan-11
Median Sales Price
Dec-11
Jan-12
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
Research Associate: Susan Grimsley
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.
March 2012 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
Mar-09
Mar-10
Mar-11
Month
Ave. Sales
$
Mar-09
$141,825
Mar-10
$128,395
-9.47
Mar-11
$119,907
-6.61
Feb-12
$114,866
Mar-12
$114,583
Annual 10
Annual 11
$136,609
$121,972
Feb-12
vs. Last Year
(%)
$0
Mar-12
Mar-09
vs. Last
Month (%)
Number of Sales
400
Mar-11
Feb-12
vs. Last
Year (%)
Month
Med. Sales $
Mar-09
$123,625
Mar-10
$119,200
-3.58
Mar-11
$109,900
-7.80
Feb-12
$85,000
Mar-12
$93,900
Annual 10
Annual 11
$120,000
$104,500
-0.25
-10.71
Mar-10
Mar-12
vs. Last
Month (%)
10.47
-12.92
Month's Inventory
14.00
12.00
300
10.00
8.00
200
6.00
4.00
100
2.00
0
0.00
Mar-09
Mar-10
Mar-11
Feb-12
Mar-12
Month
# Sales
vs. Last Year
(%)
Mar-09
290
Mar-10
318
9.66
Mar-10
12.3
4.86
Mar-11
297
-6.60
Mar-11
11.67
-5.12
Feb-12
237
Feb-12
12.93
Mar-12
339
Mar-12
8.73
Annual 10
3323
Annual 10
14.24
Annual 11
3393
Annual 11
12.31
Mar-09
vs. Last
Month (%)
43.04
2.11
Mar-10
Mar-11
Month
Month's
Inventory
Mar-09
11.73
Feb-12
vs. Last
Year (%)
Mar-12
vs. Last
Month (%)
-32.48
-13.55
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Mar-09
101
81
56
33
17
2
Mar-10
119
96
54
35
12
2
Mar-11
132
92
36
24
10
3
Feb-12
138
35
28
27
5
4
Mar-12
175
81
49
23
6
5
Ann. 10
1284
913
536
419
129
42
Ann. 11
1649
789
448
344
124
39
Number
Month
Over $500K
Price Range of Sales
200
180
160
140
120
100
80
60
40
20
0
Mar-09
Mar-10
Mar-11
Feb-12
Mar-12