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
Market Shows Strong Signs of Recovery
Month of April, 2010
The number of sales increased from 318 to 326 between March and April while the average sale price increased
dramatically by 20.35 percent from $128,396 to $154,530. The number of sales increased in every price range over
$100,000. Sales dropped from 119 to 93 in the $0-$99,999 range, and eight sales occurred over $500,000 compared to
four sales in April, 2009, and seven in April, 2008. The highest volume of sales was 97 in the $100,000-$149,999
bracket which showed an increase from 96 in March and 83 sales in April, 2009. The median sale price rose to
$130,000 from $118,500 in March. The Mobile market showed strong signs of recovery.
The average number of months to sell the existing inventory of properties decreased to 11.50. The number is calculated
by dividing the number of properties for sale, 3750, by the number of sales, 326. For April, the properties for sale
increased and the number of sales increased. This number was 11.38 in April, 2009, and 11.51 in March, 2010. The
latest U.S. rate is 8.5 in February, 2010.
The latest figures for the U.S. market in February revealed a 9.1 percent increase in the number of sales from January
to February, and a 7.1 percent increase from February, 2009, to February, 2010. The average sale price fell to
$208,700, or -1.6 percent from January, 2010. The median price also fell 0.2 percent to $164,600 for the same period.
The highest volume market was under $200,000. Of the 326 total sales in April, 254, or 77.9 percent, were in this price
range. Forty-seven properties sold in the $200,000-$299,999 price range, seventeen in the $300,000-$499,999 range,
and eight above one-half million. In April, 92.3 percent of all sales were $300,000 and lower. The number of sales in
the $300,000-$499,999 bracket increased from 12 to 17.
The Mobile market showed signs of increasing recovery in April. This month’s absorption rate of 11.50 compared to
8.5 for the U.S. shows that the Mobile market still contains too much inventory. Almost 78 percent of all Mobile sales
occurred in the price range under $200,000, and 92 percent were under $300,000.
United States Existing Home Prices for All Housing Types
Time
Sales
Feb-09
280,000
Ave.
Sales
Price
$210,300
Jan-10
275,000
Feb-10
Vs. Last
Month
(%)
Vs. Last
Year
(%)
Med. Sales
Price
Inventory
Mo. Supply
$168,200
9.7
$212,200
$164,900
7.8
300,000
$208,700
$164,600
8.5
9.1
-1.6
-0.2
9.0
Median Sales Price
$172,000
$170,000
$168,000
$166,000
$164,000
$162,000
$160,000
Jan-09
7.1
-0.8
-2.1
Dec-09
Jan-10
-12.4
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.
April 2010 Mobile County Single-Family Residential Report
Average Sales Price
$200,000
Median Sales Price
$140,000
$135,000
$150,000
$130,000
$125,000
$100,000
$120,000
$115,000
$50,000
$110,000
$0
$105,000
Apr-07
Apr-08
Apr-09
Month
Ave. Sales
$
Apr-07
$156,645
Apr-08
$161,277
2.96
Apr-09
$144,193
-10.59
Mar-10
$128,396
Apr-10
$154,530
Annual 08
$153,089
Annual 09
$143,064
Mar-10
vs. Last Year
(%)
Apr-10
Apr-07
vs. Last
Month (%)
Number of Sales
500
Apr-09
Mar-10
vs. Last
Year (%)
Month
Med. Sales $
Apr-07
$135,900
Apr-08
$137,000
0.81
Apr-09
$124,500
-9.12
Mar-10
$118,500
Apr-10
$130,000
Annual 08
$133,850
Annual 09
$127,000
20.35
-6.55
Apr-08
Apr-10
vs. Last
Month (%)
9.70
-5.12
Month's Inventory
14
12
400
10
300
8
200
6
4
100
2
0
0
Apr-07
Apr-08
Apr-09
Mar-10
Month
# Sales
vs. Last Year
(%)
Apr-07
Apr-10
Apr-07
vs. Last
Month (%)
Apr-08
Apr-09
Month
Month's
Inventory
5.41
Mar-10
vs. Last
Year (%)
469
Apr-07
Apr-08
390
-16.84
Apr-08
9.06
67.47
Apr-09
299
-23.33
Apr-09
11.38
25.61
Mar-10
318
Mar-10
11.51
Apr-10
326
Apr-10
11.15
Annual 08
4106
Annual 08
10.33
Annual 09
3472
Annual 09
12.42
2.52
-15.44
Apr-10
vs. Last
Month (%)
-3.13
20.23
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Apr-07
115
167
94
63
23
7
Apr-08
101
124
76
55
27
7
4
Apr-09
113
83
51
33
15
Mar-10
119
96
50
35
12
2
Apr-10
93
97
64
47
17
8
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
Apr-07
Apr-08
Apr-09
Mar-10
Apr-10