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 November, 2009
Median Sale Price Remains the Same
The number of sales decreased between October and November from 341 to 259 while the average sale price
decreased from $142,151 to $139,037. The number of sales in all price ranges under one-half million dollars
declined. Two sales occurred over this amount compared to eight sales in November, 2008, and 10 in
November, 2007. The highest volume of sales in the $100,000-$149,999 bracket was 100 which declined 20
from October. The median sale price remained at $125,000 which was an increase from a price of $122,900
shown in the same month one year ago. 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 for sale increased to 13.89, or 31.8
percent, from the 10.54 months shown in October. This number was 9.88 in the same month one year ago,
and 8.66 for the same month two years ago. This same number dropped to 7.8 in September for the U.S.
market.
The latest figures for the U.S. market in September revealed an increase in the number of sales of 7.8 percent
over one year ago. The average sale price fell to $219,800 or 6.5 percent from September, 2008. The median
price fell 8.5 percent to $174,900. Corresponding to the increase in the number of sales was the decline in the
average month’s supply of inventory to 7.8 months, or a 22.8 percent decline.
The highest volume market in Mobile remains under $200,000. In the 259 total sales in November, 218, or
84.2 percent, were in this price range. Thirty-one properties sold in the $200,000-$299,999 price range, eight
in the $300,000-$499,999 range, and two above one-half million.
The sales price and number of sales reflected a decline which was consistent with the national trend. The
U.S. month’s inventory declined compared to an increase in the Mobile market. Eighty-four percent of the
Mobile sales lie in the $200,000 and under price range. The highest volume occurred in the $100,000$149,999 bracket.
United States Existing Home Prices for All Housing Types
Time
Sales
Avg. Sales
Price
Med. Sales
Price
Inventory
Mo. Supply
Sep-08
438,000
$235,000
$191,200
10.1
Aug-09
413,000
$222,400
$177,300
9.3
Sep-09
472,000
$219,800
$174,900
7.8
Vs. Last
Year (%)
7.8
-6.5
-8.5
-22.8
Median Sales Price
$195,000
$190,000
$185,000
$180,000
$175,000
$170,000
$165,000
Sep-08
Aug-09
Sep-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.
November 2009 Mobile County Single-Family Residential Report
Average Sales Price
$200,000
Median Sales Price
$160,000
$140,000
$120,000
$150,000
$100,000
$100,000
$80,000
$60,000
$50,000
$40,000
$20,000
$0
$0
Nov-06
Nov-07
Nov-08
Month
Ave. Sales
$
Nov-06
$157,453
Nov-07
$167,294
6.25
Nov-08
$154,840
-7.44
Oct-09
$142,151
Nov-09
$139,037
Annual 07
Annual 08
$158,885
$153,089
Oct-09
vs. Last Year
(%)
Nov-09
Nov-06
vs. Last
Month (%)
Number of Sales
500
Nov-08
Oct-09
vs. Last
Year (%)
Month
Med. Sales $
Nov-06
$134,500
Nov-07
$147,500
9.67
Nov-08
$122,900
-16.68
Oct-09
$125,000
Nov-09
$125,000
Annual 07
Annual 08
$135,702
$133,850
-2.19
-3.65
Nov-07
Nov-09
vs. Last
Month (%)
0.00
-1.36
Month's Inventory
15
400
10
300
200
5
100
0
0
Nov-06
Nov-07
Month
# Sales
Nov-06
381
Nov-07
370
Nov-08
219
Oct-09
341
Nov-09
259
Annual 07
5097
Annual 08
4106
Nov-08
Oct-09
vs. Last Year
(%)
Nov-09
Nov-06
vs. Last
Month (%)
Nov-07
Nov-08
Month
Month's
Inventory
Oct-09
vs. Last
Year (%)
Nov-06
6.19
-2.89
Nov-07
8.66
39.90
-40.81
Nov-08
9.88
14.09
Oct-09
10.54
Nov-09
13.89
-24.05
-19.44
Annual 07
6.52
Annual 08
10.25
Nov-09
vs. Last
Month (%)
31.78
57.21
Month
0-$99,999
$100,000$149,999
$200,000$299,999
$300,000$499,999
Nov-06
91
136
77
52
21
4
Nov-07
91
100
88
57
24
10
Nov-08
75
65
27
36
8
8
Oct-09
108
120
62
34
15
2
Nov-09
77
100
41
31
8
2
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
160
140
120
100
80
60
40
20
0
Nov-06
Nov-07
Nov-08
Oct-09
Nov-09