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 February, 2012
The Mobile Residential Market
Prices: The average sales price decreased from $122,034 in January to $114,675 in February 2012, a 6.03 percent change.
The median sales price also decreased by 9.47 percent – from $92,100 to $83,375 in the same period.
Sales: The number of sales decreased by 8.17 percent from January. The number of sales in the $100,000-$149,999 range
decreased from 57 to 35, a 38.6 percent change. Twenty-seven sales occurred from $150,000-$199,999, a decrease by 16
sales from last year. The number of sales in the $200,000-$299,000 range increased by 10 sales, compared to last month.
Volume: Of the 236 total sales in February, 200 sales were under $200,000, comprising 84.75 percent of the entire
market. Thirty-two properties sold in the $150,000-$199,999 price range, which resulted in a decrease by 3.0 percent. One
hundred thirty-eight sales occurred in the $0-$99,999 range, which was a 1.47 percent increase from last month. Only 5
sales occurred from $300,000-$499,999. Thus, 96.19 percent of all sales in February were below $300,000.
Month’s-to-Sell Inventory: The average number of months to sell the existing inventory of properties in February
increased from 11.95 in January to 12.88 in February, a 7.78 percent change. However, compared to February of last year,
there was a decrease of 8.91 percent, from 14.14 in February 2011 to 12.88 in February, 2012.
U.S.: The latest figures for the U.S. market in December showed an increase of 4.2 percent in sales from November to
December, 2011, and showed a 1.2 percent increase compared to last year. The average sales price decreased to $209,500,
which resulted in a 3.9 percent change from last year. The median sales price, for the same period, decreased 3.9 percent,
from $164,000 to $162,200. The inventory month’s supply was 6.4 in December, a 9.9 percent drop from November.
Overall Analysis: For the month of February, the Mobile housing market showed decreases in average sales price,
median sales price, and average number of sales, compared to last month. In February, the number of months to sell
increased by 7.78 percent. A 1.47 percent increase in number of sales in the 0-$99,999 range and a 58.8 percent increase
in number of sales in the $200,000-$299,999 range, compared to January. Overall, the number of sales decreased 8.17
percent, the median sales price decreased 9.5 percent, and the average sales price decreased 6.03 percent from last month.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales
Price
Median
Sales Price
Inventory
Months
Supply
Dec-10
345,000
$217,900
$168,800
8.1
Nov-11
335,000
$210,400
$164,000
7.1
Dec-11
349,000
$209,500
$162,200
6.4
Vs. Last
Month
(%)
4.2
-0.4
-1.1
-9.9
Vs. Last
Year (%)
1.2
-3.9
-3.9
-21.0
$170,000
$168,000
$166,000
$164,000
$162,000
$160,000
$158,000
Dec-10
Median Sales Price
Nov-11
Dec-11
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.
Data gathered by: Meredith McCutchen, Research Associate
For additional information: 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.
February 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
Feb-09
Feb-10
Feb-11
Month
Ave. Sales
$
Feb-09
$141,272
Feb-10
$133,120
-5.77
Feb-11
$121,614
-8.64
Jan-12
$122,034
Feb-12
$114,675
Annual 10
Annual 11
$136,609
$122,006
Jan-12
vs. Last Year
(%)
$0
Feb-12
Feb-09
vs. Last
Month (%)
Number of Sales
260
255
250
245
240
235
230
225
220
Feb-11
Jan-12
vs. Last
Year (%)
Month
Med. Sales $
Feb-09
$127,000
Feb-10
$120,000
-5.51
Feb-11
$110,100
-8.25
Jan-12
$92,100
Feb-12
$83,375
Annual 10
Annual 11
$120,000
$104,500
-6.03
-10.69
Feb-10
Feb-12
vs. Last
Month (%)
-9.47
-12.92
Month's Inventory
20.00
15.00
10.00
5.00
0.00
Feb-09
Feb-10
Feb-11
Month
# Sales
vs. Last Year
(%)
Feb-09
235
Feb-10
237
Feb-11
240
Jan-12
257
Feb-12
236
Annual 10
3323
Annual 11
3391
Jan-12
Feb-12
Feb-09
Feb-10
Feb-11
Jan-12
Month
Month's
Inventory
Feb-09
14.11
0.85
Feb-10
16.24
15.10
1.27
Feb-11
14.14
-12.93
vs. Last
Month (%)
Jan-12
11.95
Feb-12
12.88
Annual 10
14.24
Annual 11
12.31
-8.17
2.05
vs. Last
Year (%)
Feb-12
vs. Last
Month (%)
7.78
-13.55
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Feb-09
85
65
43
34
6
2
Feb-10
91
72
27
39
6
2
Feb-11
116
51
43
21
6
3
Jan-12
136
57
33
17
8
6
Feb-12
138
35
27
27
5
4
Ann. 10
1284
913
536
419
129
42
Ann. 11
1647
789
448
344
124
39
Number
Month
Over $500K
Price Range of Sales
160
140
120
100
80
60
40
20
0
Feb-09
Feb-10
Feb-11
Jan-12
Feb-12