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
93% of Sales Are Under $300,000
Month of December, 2009
The number of sales decreased between November and December from 265 to 256 while the average sale price
decreased from $139,494 to $135,297. The number of sales in all price ranges showed different patterns. Three sales
occurred over $500,000 compared to four sales in December, 2008, and six in December, 2007. The highest volume of
sales was 104 in the $0-$99,999 bracket which showed an increase from 79 in November and 98 in November, 2008.
The median sale price declined to $120,000 from $125,000 in November and $121,000 in December, 2008. The
Mobile market showed signs of slowing with almost all categories performing at levels lower than November, 2008.
The average number of months to sell the existing inventory of properties remained almost the same at 13.69. The last
two months reflect a slower market as the number is calculated by dividing the number of properties for sale, 3502, by
the number of sales, 256. For December, the properties for sale declined and the number of sales declined. This
number was 9.3 in December, 2007, and 12.8 in December, 2009. The U.S. rate is 7.0 in October, 2009.
The latest figures for the U.S. market in October revealed a 6.4 increase in the number of sales from September to
October, and 20.6 percent increase from October, 2008 to October, 2009. The average sale price fell to $217,300 or 2.2
percent from September, 2009. The median price fell 2.2 percent to $172,200 for the same period. Corresponding to
the increase in the number of sales was the decline in the average month’s supply of inventory to 7.0 months, or a 12.5
percent decline.
The highest volume market in Mobile remains under $200,000. In the 256 total sales in December, 218, or 85.0
percent, were in this price range. Twenty properties sold in the $200,000-$299,999 price range, fifteen in the
$300,000-$499,999 range, and three above one-half million. In December, 93.0 percent of all sales were $299,999 and
lower. Interestingly, the number of sales in the bracket $300,000-$499,999 increased from 8 to 15 which is
encouraging as it shows a level of activity comparable to the 15 sales in December, 2007.
The Mobile market showed signs of slowing in December. This month’s absorption rate of 13.68 compared to the
decline to 7.0 for the U.S. shows that the Mobile market contains too much inventory. Ninety-three percent of all
Mobile sales occurred in the price range under $300,000. A significant increase of sales in the price bracket of
$300,000-$499,999 is encouraging and bears watching.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales
Price
Median
Sales
Price
Inventory
Mo.
Supply
Oct-08
413,000
$229,600
$186,400
10.2
Sep-09
468,000
$221,900
$176,000
8.0
$175,000
Oct-09
498,000
$217,300
$172,200
7.0
$170,000
Vs. Last
Month
(%)
6.4
-2.1
-2.2
-12.5
Median Sales Price
$190,000
$185,000
$180,000
$165,000
Oct-08
Sep-09
Oct-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.
December 2009 Mobile County Single-Family Residential Report
Average Sales Price
$165,000
$160,000
$155,000
$150,000
$145,000
$140,000
$135,000
$130,000
$125,000
$120,000
Median Sales Price
$145,000
$140,000
$135,000
$130,000
$125,000
$120,000
$115,000
$110,000
Dec-06
Month
Dec-07
Ave. Sales
$
Dec-08
Nov-09
vs. Last Year
(%)
Dec-09
Dec-06
vs. Last
Month (%)
Month
Dec-07
Dec-08
Med. Sales $
Nov-09
vs. Last
Year (%)
Dec-06
$151,805
Dec-06
$134,000
Dec-07
$159,090
4.80
Dec-07
$138,650
3.47
Dec-08
$137,509
-13.57
Dec-08
$121,000
-12.73
Nov-09
$139,494
Dec-09
$135,297
Annual 07
Annual 08
$158,885
$153,089
-3.65
Number of Sales
500
Nov-09
$125,000
Dec-09
$120,000
Annual 07
Annual 08
$135,702
$133,850
-3.01
Dec-09
vs. Last
Month (%)
-4.00
-1.36
Month's Inventory
15
400
10
300
200
5
100
0
0
Dec-06
Dec-07
Month
# Sales
Dec-06
384
Dec-07
341
Dec-08
261
Nov-09
265
Dec-09
256
Annual 07
5097
Annual 08
4106
Dec-08
Nov-09
vs. Last Year
(%)
Dec-09
Dec-06
vs. Last
Month (%)
Dec-07
Dec-08
Month
Month's
Inventory
Nov-09
vs. Last
Year (%)
Dec-06
6.09
-11.20
Dec-07
9.26
52.05
-23.46
Dec-08
12.84
38.66
Nov-09
13.69
Dec-09
13.68
-3.40
-19.44
Annual 07
6.52
Annual 08
10.25
Dec-09
vs. Last
Month (%)
-0.07
57.21
$200,000$299,999
$300,000$499,999
Month
0-$99,999
$100,000$149,999
Dec-06
122
111
74
54
18
4
Dec-07
92
108
69
51
15
6
Dec-08
98
81
41
31
6
4
Nov-09
79
101
41
32
8
2
Dec-09
104
69
45
20
15
3
Ann. 07
1389
1605
1006
742
271
89
Ann. 08
1248
1234
764
588
204
71
Number
$150,000$199,999
Over $500K
Price Range of Sales
140
120
100
80
60
40
20
0
Dec-06
Dec-07
Dec-08
Nov-09
Dec-09