Mobile Single-Family Real Estate
Center for Real Estate Studies
Mobile Area Multi-List
Additional data and information can be found at http://cres.southalabama.edu
Month of May, 2010
97.3 Percent of Sales Occurred under $300,000
The number of sales increased from 330 to 366 between April and May while the average sale price decreased by
10.75 percent from $153,681 to $137,161. Sales dropped from 64 to 58 in the $150,000 - $199,999 range. Four sales
occurred over $500,000 compared to eight sales in April 2010, four in May 2009, and nine in May, 2008. The highest
volume of sales was 132 in the $0-$99,999 bracket, which showed an increase from 96 in April and 90 sales in May,
2009. The median sale price fell from $129,900 to $120,000 in May.
The average number of months to sell the existing inventory of properties decreased to 10.29 (down is good). The
number is calculated by dividing the number of properties for sale, 3766, by the number of sales, 366. For May, the
properties for sale decreased, and the number of sales increased. This number was 11.43 in May, 2009, and 11.55 in
April, 2010. The latest U.S. rate is 8.1 in March, 2010.
The latest figures for the U.S. market in March revealed a 43.0 percent increase in the number of sales from February
to March, and a 20.2 percent increase from March, 2009 to March, 2010. The average sale price rose to $218,300 or 1.8 percent from February, 2010. The median price also rose 3.0 percent to $169,600 for the same period.
The highest volume market was under $200,000. Of the 366 total sales in May, 300, or 82 percent, were in this price
range. Fifty-six properties sold in the $200,000-$299,999 price range, six in the $300,000-$499,999 range, and four
above one-half million. In May, 97.26 percent of all sales were $300,000 and lower. The number of sales in the
$300,000-$499,999 bracket decreased from 17 to 6.
This month’s absorption rate of 10.29 months compared to 8.4 for the U.S. shows that the Mobile market still contains
too much inventory. Over 97 percent of all sales were in the price range under $300,000.
United States Existing Home Prices for All Housing Types
Time
Sales
Ave.
Sales
Price
Med. Sales
Price
Inventory
Mo. Supply
Med. Sales Price
$172,000
Mar-09
357,000
$211,400
$170,000
9.5
$170,000
Feb-10
300,000
$214,500
$164,600
8.5
$168,000
Mar-10
Vs. Last
Month
(%)
Vs. Last
Year
(%)
429,000
$218,300
$169,600
8.1
$166,000
43.0
1.8
3.0
-4.7
$164,000
$162,000
$160,000
20.2
3.3
-0.2
-14.7
Mar-09
Feb-10
Mar-10
Data Sources: All data taken from the Mobile Area Association of Realtors, Jeff Newman, 251.479.8654; and the National
Association of Realtors, www.realtor.com. For additional information, contact: Dr. Don Epley, Director, Center for Real Estate
Studies, 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.
May 2010 Mobile County Single-Family Residential Report
Average Sales Price
$200,000
$150,000
$100,000
$50,000
$0
May-07
Month
May-07
May-08
Ave. Sales
$
May-10
$168,289
$154,940
$150,091
$153,681
$137,161
Annual 08
$153,089
Annual 09
$143,064
May-08
May-09
Apr-10
May-09
Apr-10
vs. Last Year
(%)
May-10
May-07
vs. Last
Month (%)
Med. Sales $
May-07
May-10
$143,500
$137,000
$134,000
$129,900
$120,000
Annual 08
$133,850
Annual 09
$127,000
May-08
-3.13
May-09
Apr-10
-10.75
-6.55
12
400
10
May-09
Apr-10
vs. Last
Year (%)
May-10
vs. Last
Month (%)
-4.53
-2.19
-7.62
-5.12
Month's Inventory
14
500
May-08
Month
-7.93
Number of Sales
600
Median Sales Price
$150,000
$145,000
$140,000
$135,000
$130,000
$125,000
$120,000
$115,000
$110,000
$105,000
8
300
6
200
4
100
2
0
0
May-07
May-08
Month
# Sales
May-07
504
469
306
330
366
May-08
May-09
Apr-10
May-10
Annual 08
4106
Annual 09
3472
May-09
Apr-10
vs. Last Year
(%)
May-10
May-07
vs. Last
Month (%)
May-08
Month
Month's
Inventory
May-10
5.38
7.21
11.43
11.55
10.29
Annual 08
10.33
Annual 09
12.42
May-07
-6.94
May-08
-34.75
May-09
Apr-10
10.91
-15.44
May-09
Apr-10
vs. Last
Year (%)
May-10
vs. Last
Month (%)
34.01
58.53
-10.91
20.23
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
May-07
109
164
110
87
24
10
May-08
136
135
102
68
18
9
May-09
90
93
54
53
12
4
Apr-10
96
98
64
47
17
8
May-10
132
110
58
56
6
4
Ann. 08
1248
1234
764
588
204
71
Ann. 09
1142
1090
612
450
143
34
Number
Month
Over $500K
Price Range of Sales
180
160
140
120
100
80
60
40
20
0
May-07
May-08
May-09
Apr-10
May-10