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
97% of Sales Are Under $300,000
Month of January, 2010
The number of sales decreased from 256 to 181 between December and January while the average sale price decreased
from $135,297 to $129,360. The number of sales in all price ranges showed different patterns. Three sales occurred
over $500,000 compared to one sale in January, 2009, and three in January, 2008. The highest volume of sales was 77
in the $0-$99,999 bracket which showed a decrease from 104 in December and an increase from 63 in January, 2009.
The median sale price declined to $112,000 from $133,000 in January, 2009. The Mobile market showed signs of
slowing with almost all categories performing at levels lower than January, 2009.
The average number of months to sell the existing inventory of properties increased to 19.09. The number is calculated
by dividing the number of properties for sale, 3455, by the number of sales, 181. For January, the properties for sale
increased and the number of sales declined. This number was 10.77 in January, 2008, and 13.81 in December, 2009.
The latest U.S. rate is 6.5 in November, 2009.
The latest figures for the U.S. market in November revealed a 5.4 decrease in the number of sales from October to
November, and 46.3 percent increase from November, 2009 to November, 2010. The average sale price fell to
$211,800 or 2.5 percent from October, 2009. The median price fell 1.3 percent to $170,000 for the same period.
The highest volume market in Mobile remains under $200,000. In the 181 total sales in December, 150, or 82.9
percent, were in this price range. Twenty-five properties sold in the $200,000-$299,999 price range, three in the
$300,000-$499,999 range, and three above one-half million. In January, 96.7 percent of all sales were $300,000 and
lower. The number of sales in the bracket $300,000-$499,999 decreased from 15 to 3.
The Mobile market showed signs of slowing in January. This month’s absorption rate of 19.09 compared to 6.5 for the
U.S. shows that the Mobile market contains too much inventory. Ninety-seven percent of all Mobile sales occurred in
the price range under $300,000. A significant decrease of sales in the price bracket of $300,000-$499,999 bears
watching.
United States Existing Home Prices for All Housing Types
Time
Sales
Nov-08
Oct-09
Nov-09
Vs. Last
Month
(%)
Vs. Last
Year (%)
322,000
498,000
471,000
Average
Sales
Price
$223,000
$217,300
$211,800
$180,300
$172,200
$170,000
Inventory
Month
Supply
11
7.0
6.5
-5.4
-2.5
-1.3
-7.1
46.3
-5.0
-5.7
-40.9
Median
Sales Price
Median Sales Price
$185,000
$180,000
$175,000
$170,000
$165,000
$160,000
Nov-08
Oct-09
Nov-09
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.
January 2010 Mobile County Single-Family Residential Report
Average Sales Price
$200,000
Median Sales Price
$135,000
$130,000
$150,000
$125,000
$120,000
$100,000
$115,000
$110,000
$50,000
$105,000
$0
$100,000
Jan-07
Jan-08
Jan-09
Dec-09
Jan-07
Jan-09
Dec-09
vs. Last
Year (%)
Ave. Sales
$
Jan-07
$158,841
Jan-08
$134,645
-15.23
Jan-08
$119,500
-8.78
Jan-09
$140,874
4.63
Jan-09
$133,000
11.30
Dec-09
$120,000
Jan-10
$112,000
Annual 08
$133,850
Annual 09
$127,000
$135,297
Jan-10
$129,360
Annual 08
$153,089
Annual 09
$143,064
vs. Last
Month (%)
Jan-08
Month
Dec-09
vs. Last Year
(%)
Jan-10
-4.39
-6.55
Number of Sales
350
Month
Med. Sales $
Jan-07
$131,000
vs. Last
Month (%)
-6.67
-5.12
Month's Inventory
25
300
Jan-10
20
250
200
15
150
10
100
5
50
0
0
Jan-07
Jan-08
Jan-09
Dec-09
Month
# Sales
vs. Last Year
(%)
Jan-07
Jan-10
Jan-07
vs. Last
Month (%)
Jan-08
Month
Jan-09
Month's
Inventory
Dec-09
vs. Last
Year (%)
311
Jan-07
7.49
Jan-08
288
-7.40
Jan-08
10.77
43.79
Jan-09
179
-37.85
Jan-09
18.03
67.41
Dec-09
256
Dec-09
13.81
Jan-10
181
Jan-10
19.09
Annual 08
4106
Annual 08
10.33
Annual 09
3472
Annual 09
12.42
-29.30
-15.44
Jan-10
vs. Last
Month (%)
38.23
20.23
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Jan-07
96
96
56
41
14
6
Jan-08
98
97
54
26
10
3
Jan-09
63
47
29
33
6
1
Dec-09
104
69
45
20
15
3
Jan-10
77
51
22
25
3
3
Ann. 08
1248
1234
764
588
204
71
Ann. 09
1142
1090
612
450
143
34
120
100
Number
Month
Over $500K
Price Range of Sales
80
60
40
20
0
Jan-07
Jan-08
Jan-09
Dec-09
Jan-10