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 June, 2011
Prices: The average sales price increased from $132,961 in May to $134,023 in June, 2011. The median sales price
increased by 5.91 percent – from $110,000 to $116,500 in the same period.
Sales: The number of sales increased by 2.61 percent from May. The number of sales in the $100,000-$149,999 range
increased from 70 to 77. Five sales occurred over $500,000, an increase by 3 sales from June, 2010. The number of sales
in the $0-$99,999 range was 136, which was a decrease by 2 sales, compared to last month.
Volume: Of the 314 total sales in June, 213 sales were under $200,000, representing 67.83 percent of the entire market.
Forty-nine properties sold in the $200,000-$299,999 price range, nine in the $300,000-$499,999 range, and five above
$500,000. In June, 95.54 percent of all sales were $300,000 and below. The number of sales in the $300,000-$499,999
range decreased from 16 in May to 9 in June, 2011.
Month’s-to-Sell Inventory: The average number of months to sell the existing inventory of properties in June decreased
from 11.39 in May to 10.92, a 4.13 percent change. Compared to June, 2010, there was a decrease by 6.60 percent, from
11.18 to 10.92 in June, 2011. The latest U.S. rate was 9.0 months in April, 2011, an 8.4 percent increase from March.
U.S.: The latest figures for the U.S. market in March showed an increase of 8.7 percent in sales from March to April,
2011, and showed a 16.3 percent decrease compared to April, 2010. The average sales price increased at $210,200. The
median sales price, for the same period, increased 0.8 percent, from $159,800 to $161,100.
Overall Analysis: For the month of June, the Mobile housing market showed increases in number of sales, average sales
price, and median sales price, compared to last month. The month’s-to-sell inventory of 10.92 in June reflected a decrease
of 4.13 percent, as compared to May. Overall, the Mobile housing market showed an increase of sales in higher price
ranges, which resulted in an increase in average sales price and median sales price for the month of June, 2011.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales
Price
Median
Sales Price
Inventory
Months
Supply
Apr-10
522,000
$217,300
$172,300
8.3
$170,000
Mar-11
402,000
$207,300
$159,800
8.3
$165,000
Apr-11
437,000
$210,200
$161,100
9.0
$160,000
Vs. Last
Month
(%)
8.7
1.4
0.8
8.4
$155,000
Vs. Last
Year (%)
-16.3
Median Sales Price
$175,000
$150,000
-3.3
-6.5
8.4
Apr-10
Mar-11
Apr-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.
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.
June 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
$0
Jun-08
Jun-09
Month
Ave. Sales $
Jun-08
$173,108
Jun-09
$152,217
Jun-10
$142,089
May-11
$132,961
Jun-11
$134,023
Annual 09
$143,092
Annual 10
$136,630
Jun-10
May-11
vs. Last Year
(%)
Jun-11
Jun-08
vs. Last
Month (%)
Jun-10
May-11
vs. Last
Year (%)
Month
Med. Sales $
Jun-08
$143,000
-12.07
Jun-09
$129,950
-9.13
-6.65
Jun-10
$129,900
-0.04
May-11
$110,000
Jun-11
$116,500
Annual 09
$127,100
Annual 10
$120,000
0.80
-4.52
Number of Sales
500
Jun-09
Jun-11
vs. Last
Month (%)
5.91
-5.59
Month's Inventory
14
12
400
10
300
8
200
6
4
100
2
0
0
Jun-08
Month
Jun-09
Jun-10
May-11
# Sales
vs. Last Year
(%)
Jun-11
Jun-08
vs. Last
Month (%)
Jun-09
Month
Jun-10
Month's
Inventory
May-11
vs. Last
Year (%)
Jun-08
403
Jun-08
8.79
Jun-09
300
-25.56
Jun-09
11.97
36.18
Jun-10
371
23.67
Jun-10
11.18
-6.60
May-11
306
May-11
11.39
Jun-11
314
Jun-11
10.92
Annual 09
3481
Annual 09
12.32
Annual 10
3321
Annual 10
14.18
2.61
-4.60
Jun-11
vs. Last
Month (%)
-4.13
15.10
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Jun-08
97
123
77
72
22
12
Jun-09
87
100
57
36
19
1
Jun-10
127
96
69
58
19
2
May-11
138
70
40
37
16
5
Jun-11
136
77
38
49
9
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
160
140
120
100
80
60
40
20
0
Jun-08
Jun-09
Jun-10
May-11
Jun-11