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 September, 2011
Prices: The average sales price decreased from $119,444 in August to $113,340 in September, 2011, a 5.11 percent
change. The median sales price also decreased by 3.98 percent – from $96,850 to $93,000 in the same period.
Sales: The number of sales decreased by 6.60 percent from August. The number of sales in the $100,000-$149,999 range
decreased from 73 to 61, a 16.44 percent change. Five sales occurred over $500,000, an increase by 1 sale from August,
2011. The number of sales in the $0-$99,999 range was 157, which was a decrease by 9 sales, compared to last month.
Volume: Of the 297 total sales in September, 263 sales were under $200,000, comprising 88.55 percent of the entire
market. Twenty-two properties sold in the $200,000-$299,999 price range, which resulted in a decrease by 18.52 percent.
Seven sales occurred in the $300,000-$499,999 range, being 8 less sales than last month. Thus, 95.96 percent of all sales
in September were below $300,000.
Month’s-to-Sell Inventory: The average number of months to sell the existing inventory of properties in September
increased from 11.17 in August to 11.59, a 3.76 percent change. Compared to September of last year, there was a decrease
by 35.94 percent, from 15.13 to 11.59 in September, 2011.
U.S.: The latest figures for the U.S. market in July showed a decrease of 11.1 percent in sales from June to July, 2011, and
showed a 17.1 percent increase compared to July of last year. The average sales price decreased to $220,400, which
resulted in a 2.5 percent change. The median sales price, for the same period, also decreased 2.5 percent, from $175,600 to
$171,200. The inventory months supply was 9.5 months in July, a 3.3 percent increase from June.
Overall Analysis: For the month of September, the Mobile housing market showed decreases in number of sales,
average sales price, and median sales price, compared to last month. The number of sales decreased by 16.44 percent in
the $100,000-$149,999 range and 18.52 percent in the $200,000-$299,999 range compared to August. This resulted in an
overall decrease in sales price for the month of September, 2011.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales
Price
Median
Sales Price
Inventory
Months
Supply
Jul-10
391,000
$231,600
$182,000
12.5
Jun-11
515,000
$226,000
$175,600
9.2
Jul-11
458,000
$220,400
$171,200
9.5
Vs. Last
Month
(%)
-11.1
-2.5
-2.5
3.3
Vs. Last
Year (%)
17.1
-4.8
-5.9
-24.0
$185,000
Median Sales Price
$180,000
$175,000
$170,000
$165,000
Jul-10
Jun-11
Jul-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.
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. Data gathered by: Susan Ramsay.
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.
September 2011 Mobile County Single-Family Residential Report
Average Sales Price
$200,000
Median Sales Price
$160,000
$140,000
$150,000
$120,000
$100,000
$100,000
$80,000
$60,000
$50,000
$40,000
$20,000
$0
Sep-08
Sep-09
Sep-10
Month
Ave. Sales
$
Sep-08
$157,295
Sep-09
$138,608
-11.88
Sep-10
$124,691
-10.04
Aug-11
$119,444
Sep-11
$113,340
Annual 09
Annual 10
$143,092
$136,630
Aug-11
vs. Last Year
(%)
$0
Sep-11
Sep-08
vs. Last
Month (%)
Number of Sales
400
15.00
200
10.00
100
5.00
0
Aug-11
vs. Last
Year (%)
Med. Sales $
Sep-08
$139,500
Sep-09
$125,000
-10.39
Sep-10
$113,750
-9.00
Aug-11
$96,850
Sep-11
$93,000
Annual 09
Annual 10
$127,100
$120,000
Sep-11
vs. Last
Month (%)
-3.98
-5.59
Month's Inventory
20.00
300
Sep-10
Month
-5.11
-4.52
Sep-09
0.00
Sep-08
Sep-09
Month
# Sales
Sep-08
351
Sep-09
330
Sep-10
266
Aug-11
318
Sep-11
297
Annual 09
3481
Annual 10
3321
Sep-10
Aug-11
vs. Last Year
(%)
Sep-11
Sep-08
vs. Last
Month (%)
Sep-09
Month
Sep-10
Month's
Inventory
Aug-11
vs. Last
Year (%)
Sep-08
10.11
-5.98
Sep-09
11.13
10.09
-19.39
Sep-10
15.13
35.94
Aug-11
11.17
Sep-11
11.59
Annual 09
12.32
Annual 10
14.21
-6.60
-4.60
Sep-11
vs. Last
Month (%)
3.76
15.34
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
3
Sep-08
98
95
69
60
26
Sep-09
109
105
55
47
10
4
Sep-10
118
64
44
29
9
2
Aug-11
166
73
33
27
15
4
Sep-11
157
61
45
22
7
5
Ann. 09
1145
1092
616
451
143
34
Ann. 10
1283
912
536
419
129
42
Number
Month
Over $500K
Price Range of Sales
180
160
140
120
100
80
60
40
20
0
Sep-08
Sep-09
Sep-10
Aug-11
Sep-11