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
The Mobile Residential Market
Month of October, 2011
Prices: The average sales price decreased from $113,443 in September to $110,819 in October, 2011, a 2.31 percent
change. The median sales price also decreased by 2.15 percent – from $93,000 to $91,000 in the same period.
Sales: The number of sales decreased by 10.03 percent from September. The number of sales in the $0-$99,999 range
decreased from 157 to 145, a 7.64 percent change. Nine sales occurred from $300,000-$499,999, an increase by 2 sales
from September, 2011. The number of sales in the over $500,000 range decreased by 4 sales, compared to last month.
Volume: Of the 269 total sales in October, 238 sales were under $200,000, comprising 88.48 percent of the entire market.
Thirty-six properties sold in the $150,000-$199,999 price range, which resulted in a decrease by 20.0 percent. Nine sales
occurred in the $300,000-$499,999 range, which was a 28.57 percent increase from last month. Thus, 96.28 percent of all
sales in October were below $300,000.
Month’s-to-Sell Inventory: The average number of months to sell the existing inventory of properties in October
increased from 11.63 in September to 12.60, an 8.34 percent change. Compared to October of last year, there was a
decrease by 23.68 percent, from 16.51 to 12.60 in October, 2011.
U.S.: The latest figures for the U.S. market in August showed an increase of 9.8 percent in sales from July to August,
2011, and showed a 21.5 percent increase compared to August of last year. The average sales price decreased to $219,500,
which resulted in a 2.8 percent change from last year. The median sales price, for the same period, decreased 3.5 percent,
from $177,400 to $171,200. The inventory months supply was 8.4 months in August, an 11.6 percent decrease from July.
Overall Analysis: For the month of October, the Mobile housing market showed decreases in average sales price,
median sales price, and average number of sales, compared to last month. In October, the number of months to sell
increased by 8.4 percent. A 7.64 percent decrease in number of sales in the 0-$99,999 range and a 20 percent decrease in
number of sales in the $150,000-$199,999 range, compared to September. However, a 28.57 percent increase in number
of sales in the $300,000- $499,999 range, resulted in an overall decrease in sales price for the month of October, 2011.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales
Price
Median
Sales Price
Inventory
Months
Supply
$178,000
Aug-10
414,000
$225,900
$177,300
11.7
$176,000
Jul-11
458,000
$220,400
$171,200
9.5
$174,000
Aug-11
503,000
$219,500
$171,200
8.4
$172,000
Vs. Last
Month
(%)
9.8
-0.4
0.0
-11.6
Vs. Last
Year (%)
21.5
-2.8
-3.4
-28.2
Median Sales Price
$170,000
$168,000
Aug-10
Jul-11
Aug-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.
October 2011 Mobile County Single-Family Residential Report
Average Sales Price
160000
Median Sales Price
140000
140000
120000
120000
100000
100000
80000
80000
60000
60000
40000
40000
20000
20000
0
39722
40087
40452
vs. Last Year
(%)
Month
Ave. Sales $
Oct-08
$138,036
Oct-09
$141,881
2.79
Oct-10
$129,357
-8.83
Sep-11
$113,443
Oct-11
$110,819
Annual 09
$143,092
Annual 10
$136,630
40787
0
40817
39722
vs. Last
Month (%)
Oct-08
$123,000
Oct-09
$125,000
1.63
Oct-10
$106,900
-14.48
Sep-11
$93,000
Oct-11
$91,000
Annual 09
$127,100
$120,000
15
200
10
100
5
0
40817
vs. Last
Month (%)
-2.15
-5.59
Month's Inventory
20
300
40787
vs. Last
Year (%)
Med. Sales $
Annual 10
Number of Sales
400
40452
Month
-2.31
-4.52
40087
0
39722
40087
40452
vs. Last Year
(%)
40787
40817
39722
vs. Last
Month (%)
40087
Month
Month's
Inventory
Oct-08
11.71
40452
40787
vs. Last
Year (%)
Month
# Sales
Oct-08
305
Oct-09
343
12.46
Oct-09
10.99
-6.15
Oct-10
237
-30.90
Oct-10
16.51
50.23
Sep-11
11.63
Oct-11
12.6
Annual 09
12.32
Annual 10
14.21
Sep-11
299
Oct-11
269
Annual 09
3481
Annual 10
3321
-10.03
-4.60
40817
vs. Last
Month (%)
8.34
15.34
0-$99,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Oct-08
118
80
53
44
5
5
Oct-09
109
121
62
34
15
2
Oct-10
111
51
35
25
13
2
Sep-11
157
63
45
22
7
5
Oct-11
145
57
36
21
9
1
Ann. 09
1145
1092
616
451
143
34
Ann. 10
1283
912
536
419
129
42
Number
Month
$100,000$149,999
Over $500K
Price Range of Sales
180
160
140
120
100
80
60
40
20
0
39722
40087
40452
40787
40817