Mobile Single-Family Real Estate
Center for Real Estate Studies
Mobile Area Multi-List
Additional data and information can be found at the CRES website: http://cres.southalabama.edu
The Mobile Residential Market
Month of March 2011
Prices: The average sale price decreased from $122,077 in February to $120,289 in March. The median sale price fell
0.14 percent to $109,950 from $110,100.
Sales: The number of sales in March rose by 23.58 percent from February. Sales rose from 52 to 91 in the $100,000$149,999 range. Three sales occurred over $500,000, which is constant with the three sales in February, 2011, and an
increase from two in March, 2010. The highest volume of sales was 130 in the $0-$99,999 bracket, which showed an
increase from 114 in February.
Volume: The highest volume market was under $200,000 with 87.42 percent of the 294 total sales. Twenty-four
properties sold in the $200,000-$299,999 price range, ten in the $300,000-$499,999 range, and only three above one-half
million. In March, 95.58 percent of all sales were $300,000 and lower. The number of sales in the $300,000-$499,999
bracket increased to ten sales in March from six in February, 2011.
Month’s-to-Sell Inventory: The average number of months-to-sell the existing inventory of properties fell from 13.09 in
February to 11.38 in March. To calculate this number, divide the 3346 properties for sale by the number of properties
sold, 294. From February to March, the properties for sale increased 1.09 percent, and the number of sales increased 23.53
percent. Previous numbers were 12.23 months in March, 2010, and 11.71 in March, 2009. The latest U.S. rate was 7.5
months in January 2011.
U.S.: The latest figures for the U.S. market in January revealed a 29.5 percent decrease in the number of sales from
December, 2010, to January, 2011, and showed a 3.6 percent increase from January, 2010. The average sale price fell to
$205,800. The median sales price decreased 6.5 percent to $157,900 for the same period.
Mobile: Mobile’s month’s-to-sell rate of 11.38 compared to 7.5 for the U.S. shows that the Mobile market still contains
too much inventory. Over 87 percent of all Mobile sales occurred in the price range under $200,000, and over 95 percent
were under $300,000.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales
Price
Median
Sales
Price
Inventory
Months
Supply
$170,000
Median Sales Price
Jan-10
275,000
$212,200
$164,900
7.7
$165,000
Dec-10
404,000
$217,900
$168,800
8.2
$160,000
Jan-11
285,000
$205,800
$157,900
7.5
$155,000
-29.5
-5.6
-6.5
-8.5
$150,000
3.6
-3.0
-4.2
-2.6
Vs. Last
Month (%)
Vs. Last
Year (%)
Jan-10
Dec-10
Jan-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.
March 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
$0
Mar-08
Mar-09
Mar-10
Month
Ave. Sales
$
Mar-08
$147,963
Mar-09
$141,825
-4.15
Mar-10
$128,395
-9.47
Feb-11
$122,077
Mar-11
$120,289
Annual 09
$143,064
Annual 10
$128,160
Feb-11
vs. Last Year
(%)
Mar-11
Mar-08
vs. Last
Month (%)
Number of Sales
400
Mar-10
Feb-11
vs. Last
Year (%)
Month
Med. Sales $
Mar-08
$133,000
Mar-09
$132,625
-0.28
Mar-10
$119,200
-10.12
Feb-11
$110,100
Mar-11
$109,950
Annual 09
$127,000
Annual 10
$108,000
-1.46
-10.42
Mar-09
Mar-11
vs. Last
Month (%)
-0.14
-14.96
Month's Inventory
14
12
300
10
8
200
6
4
100
2
0
0
Mar-08
Mar-09
Mar-10
Month
# Sales
vs. Last Year
(%)
Mar-08
362
Mar-09
290
Mar-10
318
Feb-11
238
Mar-11
294
Annual 09
3472
Annual 10
2808
Feb-11
Mar-11
Mar-08
vs. Last
Month (%)
Mar-09
Month
Mar-10
Month's
Inventory
Feb-11
vs. Last
Year (%)
Mar-08
9.13
-19.89
Mar-09
11.71
28.26
9.66
Mar-10
12.23
4.44
Feb-11
13.09
Mar-11
11.38
Annual 09
12.42
Annual 10
15.29
23.53
-19.12
Mar-11
vs. Last
Month (%)
-13.06
23.11
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Mar-08
117
103
69
47
22
4
Mar-09
101
81
56
38
17
2
Mar-10
119
96
54
35
12
2
Feb-11
114
52
42
21
6
3
Mar-11
130
91
36
24
10
3
Ann. 09
1142
1090
612
588
143
71
Ann. 10
1266
753
358
276
118
37
Number
Month
Over $500K
Price Range of Sales
140
120
100
80
60
40
20
0
Mar-08
Mar-09
Mar-10
Feb-11
Mar-11