Mobile Single
Single-Family
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 August, 2011
Prices: The average sales price decreased by 2.82 percent, falling from $123,124 in July to $119,649
119,649 in August, 2011.
The median sales price decreased from $110,000 to $96,850 in the same period, which is an 11.95 percent change.
Sales: The number of sales in August increased by 6.04 percent since July, having a total of 316 sales.
sales The number of
sales in the $0-$99,999 range was 165, which was a 21.32 percent increase compared to last month. The number of sales
in the $300,000-$499,999 range increased
creased from 9 to 15, a 66.67 percent change. Four sales occurred over $500,000,
$
an
increase by 2 sales from July, 2011.
Volume: Of the 316 total sales in August, 2270 sales were under $200,000, representing 85.44 percent of the entire market.
Thirty-three sales occurred in the $150,000--$199,999 range,, resulting in a 17.50 percent decrease. In
I the $200,000$299,999 price range, there were 27 sales, which resulted in a decrease by 13 sales compared to July.
July
Month’s-to-Sell Inventory: The average number of months to sell the existing
sting inventory of properties in August
decreased from 11.94 in July to 11.15, a 6.62 percent change. Compared to August of last year,, the month’s inventory
declined by 30.62 percent, falling from 16.07 to 11.15 in August, 2011
2011.
U.S.: The latest update on the U.S. market showed an increase of 12.7 percent in sales from May to June, 2011. The
average sales price increased at $226,000,, which resulted in a 3.
3.9 percent change. The median sales price, for the same
period, increased 3.7 percent, or from $169,300
169,300 to $175,600. The inventory months supply in June increased by 1.1
percent. Compared to June, 2010, the inventory months supply increased by 3.4 percent.
Overall Analysis: For the month of August
August, the Mobile housing market showed decreases
creases in sales price and inventory
months supply. The 21.32 percent increase in number of sales in the $0
$0-$99,999
$99,999 range contributed to the 6.04 percent
increase in overall number of sales in Mobile County. Alt
Although more sales occurred in August,, over 52 percent of total
sales occurred in the lowest price range, which is reflected in the 11.95 percent decrease in median sales price. The
month’s inventory declined significantly compared to August
August, 2010, resulting in a 30.62 percent change for August, 2011.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales Price
Median
Sales Price
Inventory
Months
Supply
$185,000
Jun-10
555,000
$229,800
$182,800
8.9
$180,000
May-11
457,000
$217,600
$169,300
9.1
$175,000
Jun-11
515,000
$226,000
$175,600
9.2
$170,000
Vs. Last
Month (%)
12.7
3.9
3.7
1.1
$165,000
Vs. Last
Year (%)
-7.2
-1.7
-3.9
3.4
Median Sales Price
$160,000
Jun-10
May-11
May
Jun-11
Data Sources: All data taken from the Mobile Area A
Association of Realtors, Jeff Newman, Office: 251.479.8654
479.8654; and the National
Association of Realtors, www.realtor.com.
For additional information: Dr. Don Epley, Director
Director, Center for Real Estate Studies, Mitchell College of Business, University of
South Alabama, Office: 251.460.6735, E-mail: depley@usouthal.edu
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
e
or
implied, nor assumes any legal liability or responsibility for the accuracy, correctness, or completeness of any information, nor represe
esents that its use would not infringe on
privately owned rights. Reference to any specific commercial
al pproduct, process, or service does not constitute an endorsement, recomm
mendation, or favoring by USA.
August 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
Aug-08
Aug-09
Aug-10
Month
Ave. Sales
$
Aug-08
$152,889
Aug-09
$145,490
-4.84
Aug-10
$135,527
-6.85
Jul-11
$123,124
Aug-11
$119,649
Annual 09
Annual 10
$143,092
$136,630
Jul-11
vs. Last Year
(%)
$0
Aug-11
Aug-08
vs. Last
Month (%)
-2.82
-4.52
Number of Sales
400
15.00
200
10.00
100
5.00
0
Aug-10
Jul-11
vs. Last
Year (%)
Month
Med. Sales $
Aug-08
$137,450
Aug-09
$126,750
-7.78
Aug-10
$119,500
-5.72
Jul-11
$110,000
Aug-11
$96,850
Annual 09
Annual 10
$127,100
$120,000
Aug-11
vs. Last
Month (%)
-11.95
-5.59
Month's Inventory
20.00
300
Aug-09
0.00
Aug-08
Aug-09
Month
# Sales
Aug-08
350
Aug-09
316
Aug-10
253
Jul-11
298
Aug-11
316
Annual 09
3481
Annual 10
3321
Aug-10
Jul-11
vs. Last Year
(%)
Aug-11
Aug-08
vs. Last
Month (%)
Aug-09
Aug-10
Jul-11
Month
Month's
Inventory
Aug-08
10.22
-9.71
Aug-09
11.67
14.19
-19.94
Aug-10
16.07
37.70
Jul-11
11.94
Aug-11
11.15
Annual 09
12.32
Annual 10
14.20
6.04
-4.60
vs. Last
Year (%)
Aug-11
vs. Last
Month (%)
-6.62
15.26
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Aug-08
99
113
61
54
20
3
Aug-09
109
100
57
36
7
7
Aug-10
101
70
40
26
13
3
Jul-11
136
71
40
40
9
2
Aug-11
165
72
33
27
15
4
Ann. 09
1145
1092
616
451
143
34
Ann. 10
1283
912
536
419
129
42
Month
Number
0-$99,999
Over $500K
Price Range of Sales
180
160
140
120
100
80
60
40
20
0
Aug-08
Aug-09
Aug-10
Jul-11
Aug-11