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 December, 2011
The Mobile Residential Market
Prices: The average sales price increased from $111,994 in November to $120,777 in December, 2011, a 7.84 percent
change. The median sales price also increased by 6.49 percent – from $92,500 to $98,500 in the same period.
Sales: The number of sales increased by 4.56 percent from November. The number of sales in the $0-$99,999 range
decreased from 139 to 128, a 7.91 percent change. Twelve sales occurred from $300,000-$499,999, an increase by 8 sales
from November, 2011. The number of sales in the $200,000-$299,000 range increased by 5 sales, compared to last month.
Volume: Of the 275 total sales in December, 219 sales were under $200,000, comprising 79.63 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.
Twelve sales occurred in the $300,000-$499,999 range, which was a 200 percent increase from last month, 4 sales to 12
sales. Thus, 90.18 percent of all sales in December were below $300,000.
Month’s-to-Sell Inventory: The average number of months to sell the existing inventory of properties in December
decreased from 12.63 in November to 11.48, a 9.11 percent change. Compared to December of last year, there was a
decrease by 28.6 percent, from 16.08 in December 2010 to 11.48 in December, 2011.
U.S.: The latest figures for the U.S. market in October showed a decrease of 7 percent in sales from September to
October, 2011, and showed a 4.5 percent decrease compared to last year. The average sales price decreased to $205,900,
which resulted in a 5.7 percent change from last year. The median sales price, for the same period, decreased 5.7 percent,
from $170,600 to $160,800. The inventory months supply was 7.7 months in October, a 7.2 percent drop from September.
Overall Analysis: For the month of December, the Mobile housing market showed increases in average sales price,
median sales price, and average number of sales, compared to last month. In December, the number of months to sell
decreased by 9.11 percent. A 7.91 percent decrease in number of sales in the 0-$99,999 range and a 20.8 percent increase
in number of sales in the $200,000-$299,999 range, compared to November. Overall, the number of sales increased 4.56
percent, the median sales price increased 6.49 percent, and the average sales price increased 7.84 percent from last month.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales
Price
Median
Sales Price
Inventory
Months
Supply
$175,000
Oct-10
359,000
$218,300
$170,600
8.2
$170,000
Sep-11
369,000
$212,800
$165,300
8.3
$165,000
Oct-11
343,000
$205,900
$160,800
7.7
Vs. Last
Month
(%)
-7.0
-3.2
-2.7
-7.2
Vs. Last
Year (%)
-4.5
-5.7
-5.7
-6.1
Median Sales Price
$160,000
$155,000
Oct-10
Sep-11
Oct-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.
December 2011 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
Dec-08
Dec-09
Dec-10
Nov-11
Dec-08
vs. Last
Month (%)
Dec-09
Dec-10
Nov-11
vs. Last
Year (%)
Month
Ave. Sales
$
Dec-08
$137,509
Dec-08
$121,000
Dec-09
$135,470
-1.48
Dec-09
$120,000
-0.83
Dec-10
$141,452
4.42
Dec-10
$109,000
-9.17
Nov-11
$111,994
Nov-11
$92,500
Dec-11
$120,777
Dec-11
$98,500
Annual 09
Annual 10
$143,092
Annual 09
Annual 10
$127,100
$120,000
$136,630
vs. Last Year
(%)
$0
Dec-11
Month
7.84
-4.52
Number of Sales
300
Med. Sales $
Dec-11
vs. Last
Month (%)
6.49
-5.59
Month's Inventory
20.00
250
15.00
200
150
10.00
100
5.00
50
0
0.00
Dec-08
Dec-09
Month
# Sales
Dec-08
261
Dec-09
259
Dec-10
225
Nov-11
263
Dec-11
275
Annual 09
3481
Annual 10
3321
Dec-10
Nov-11
vs. Last Year
(%)
Dec-11
Dec-08
vs. Last
Month (%)
Dec-09
Month
Dec-10
Month's
Inventory
Nov-11
vs. Last
Year (%)
Dec-08
13.10
-0.77
Dec-09
14.33
9.39
-13.13
Dec-10
16.08
12.21
Nov-11
12.63
Dec-11
11.48
Annual 09
12.32
Annual 10
14.21
4.56
-4.60
Dec-11
vs. Last
Month (%)
-9.11
15.34
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Dec-08
98
81
41
31
6
4
Dec-09
105
70
45
21
15
3
Dec-10
98
65
30
19
7
6
Nov-11
139
60
33
24
4
3
Dec-11
32
29
12
3
128
59
Ann. 09
1145
1092
616
451
143
34
Ann. 10
1283
912
536
419
129
42
Number
Month
Over $500K
Price Range of Sales
160
140
120
100
80
60
40
20
0
Dec-08
Dec-09
Dec-10
Nov-11
Dec-11