MOBILE MARKET WATCH
Mitchell College of Business
Center for Real Estate Studies
Mobile Residential Reports
Quarterly Price Appreciation % by Zone
Summer 2008
This report covers summary data from the Mobile Area Multi‐List. The numbers cover all sold properties represented by real estate agents for the time periods shown.
This report is available at: http://cres.southalabama.edu/
USA 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.
Mobile Residential
Page - 1
Price Appreciation % by Zone
Mobile MSA (City + County) Residential Housing Market Quarterly Price Appreciation (%) by Zone
Summer 2008
Zone
Average Median Sale
Year /
Sale Price %
Price %
Quarter
Mobile Metro Area
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
Average
Days on
Market
Number
Sold
-0.02
-0.76
-4.95
2.0
3.3
-3.08
3 70
3.70
4.10
9.20
1.7
-1.1
-0.8
2.7
-0.6
-1.99
11.90
4.10
11.42
83.0
88.0
89.0
66.0
70.0
64
65
66
55
1083.0
1256.0
955.0
5096.0
1101.0
1,351
1,966
1,149
5,483
15.09%
-12.72%
-30.01%
-11.12%
3.94%
-13.97
-0.66
65.71
21.07
28.53%
-28.63%
-73.80%
-14.63%
11.77%
9.76
15.70
12.72
43.52
107
76
131
77
79
92
70
112
97
7
15
9
52
20
11
13
4
39
-0.27
21.38
-9.27
-9.86
-13.81
-0.14
8.22
25.00
14.48
57
91
63
54
60
64
55
64
79
10
20
7
62
19
14
13
16
265
01- Downtown
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
02- MidTown South
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
Mobile Residential
8.00
13.36
-21.88
-3.67
-7.25
-11.13
15.92
12.16
16.21
Page - 2
Price Appreciation % by Zone
Zone
Average Median Sale
Year /
Sale Price %
Price %
Quarter
03- Midtown East
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
Average
Days on
Market
Number
Sold
86
82
69
67
70
80
55
64
53
54
64
43
294
59
75
96
62
307
-14.58
-36.49
-36.05
7.50
1.04
-7.69
9.62
7.71
13.21
13 21
79
88
84
56
62
62
50
51
77
54
45
39
203
44
57
52
50
217
-10.93
-10.93
9.38
9.57
-1.56
-31.17
-18.22
34.28
29.35
-12.39
-12.39
7.78
5.88
0.00
-59.35
-19.36
46.39
29.41
64
71
65
47
48
62
59
40
76
37
30
27
127
35
20
16
17
51
-4.83
-10.34
-13.43
-15.99
-16.98
-31.17
-18.22
34.28
29.35
-5.56
-22.22
-1.43
-13.39
83.70
-59.35
-19.36
46.39
29.41
96
83
72
58
57
62
59
40
76
17
24
26
50
26
20
16
17
51
9.08
7.45
6.75
0.68
2.42
2.14
6.31
-10.86
21.46
11.18
11.33
13.34
0.67
2.40
7.04
2.49
6.07
18.96
04- Dauphin Island Parkway - North
3
2
2008 1
Annual 2007
4
3
2
2007 1
A
Annual
l 2006
-10.17
-19.25
-29.63
0.80
-9.76
-3.28
8.12
7.00
15.95
15 95
07- MidTown West
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
09- MidCentral
3
2
2008 1
Annuual 2007
4
3
2
2007 1
Annual 2006
Mobile Residential
Page - 3
Price Appreciation % by Zone
Zone
Average Median Sale
Year /
Sale Price %
Price %
Quarter
10- Eight Mile/Pritchard
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
Average
Days on
Market
Number
Sold
11.68%
-27.84%
-1.40%
-2.39%
30.67%
46.65
-19.99
-9.65
46.01
9.33%
-8.10%
-16.87%
-1.02%
44.95%
50.05
-19.58
1.53
54.76
90
102
48
56
48
44
51
88
80
13
10
14
57
14
28
24
24
91
1.33
12.88
-15.13
-0.18
8.47
-7.17
-15.30
21.43
17.02
17 02
-4.15
7.24
-15.13
8.83
12.15
-1.81
7.39
19.17
12.28
12 28
84
52
89
61
60
61
44
84
81
13
22
28
114
29
25
34
25
120
-5.14
-8.03
-17.10
3.73
6.33
-6.60
4.88
14.72
18.11
71
76
87
59
72
59
62
51
47
62
83
74
298
67
83
78
79
357
0.94
-13.65
7.28
17.45
29.73
-5.18
31.60
-0.67
5.36
67
95
66
73
75
78
75
72
68
49
60
50
253
47
72
72
59
301
11- Chickasaw
3
2
2008 1
Annual 2007
4
3
2
2007 1
A
Annual
l 2006
14- Munipcal Park / West Ctrl
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
-3.73
-8.26
-14.39
-3.30
-7.00
-9.09
-5.81
5.34
23.18
15- Springhill/USA
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
Mobile Residential
-13.02
10.15
-24.43
10.18
30.22
-17.25
14.90
18.81
15.37
Page - 4
Price Appreciation % by Zone
Zone
Average Median Sale
Year /
Sale Price %
Price %
Quarter
16- Cottage Hill North
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
Average
Days on
Market
Number
Sold
11.55
-3.62
16.44
5.19
18.78
-11.51
13.60
-8.85
14.32
89
87
72
68
67
57
72
80
61
82
101
64
408
97
94
119
86
389
3.31
5.04
-8.43
13.69
20.63
4.56
-2.65
27.08
16.01
16 01
-8.26
-8.53
-4.31
8.14
2.59
9.69
4.23
15.40
18.40
18 40
74
86
95
62
73
56
55
69
42
57
81
63
275
48
65
85
81
340
3.08
6.88
3.40
-2.02
-3.06
8.74
2.68
-8.50
-8.58
-1.82
5.96
-5.71
3.51
-2.06
10.24
-0.38
2.28
6.63
73
92
77
64
80
61
61
72
68
117
158
99
587
120
88
80
71
350
-4.25
2.65
30.00
6.31
2.49
10.24
-0.38
2.28
6.63
91
85
94
53
57
61
61
72
68
40
40
29
162
32
88
80
71
350
-20.66
-4.00
-11.67
7.75
21.07
-0.33
2.49
16.20
12.77
17- Cottage Hill South
3
2
2008 1
Annual 2007
4
3
2
2007 1
A
Annual
l 2006
18- West Mobile
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
19- Tillman's Corner
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
Mobile Residential
-1.73
7.31
21.20
4.57
-6.44
8.74
2.68
-8.50
-8.58
Page - 5
Price Appreciation % by Zone
Zone
Average Median Sale
Year /
Sale Price %
Price %
Quarter
20- Western Bay Shores
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
7.37
-16.41
-25.30
15.97
27.47
-12.33
62.01
15.19
-20.45
Average
Days on
Market
Number
Sold
83
146
186
88
63
83
82
130
82
30
26
10
129
19
46
36
23
169
98
89
109
78
75
68
89
81
76
32
29
29
150
30
43
47
35
126
-10.60
0.79
-3.54
4.96
5.12
12.36
2.70
3.72
18.82
74
74
74
55
64
56
52
50
52
52
61
48
243
46
74
64
59
254
8.46
-24.45
-39.42
1.04
-20.65
-10.49
5.12
22.00
21.91
71
89
59
55
60
63
37
73
41
19
25
14
134
28
15
52
39
138
10.55
5.26
5.80
13.64
81.04
3.59
38.09
15.25
-28.22
21- Dauphin Island Parkway - South
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
-8.38
4.27
-2.33
7.46
39.33
12.45
-7.97
17.82
-0.26
-35.62
0.87
-13.25
3.06
3.89
-7.94
6.42
10.67
14.08
22- S Mobile County / Theodore
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
-21.43
-6.13
-10.68
0.26
5.19
15.53
-1.15
-16.50
15.20
23- Grand Bay North
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
Mobile Residential
7.23
-28.19
-31.43
4.54
-24.21
-12.87
18.72
27.26
7.53
Page - 6
Price Appreciation % by Zone
Zone
Average Median Sale
Year /
Sale Price %
Price %
Quarter
24- West Mobile County
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
Average
Days on
Market
Number
Sold
-8.53
1.78
2.05
8.36
3.60
14.01
7.36
11.14
13.40
-3.93
6.70
-0.58
8.89
6.32
16.44
5.95
15.02
7.45
81
96
102
64
68
66
65
59
38
125
124
80
501
120
130
149
103
528
2.16
2.75
7.36
1.74
5.13
6.11
12.00
26.33
28.32
28 32
7.71
9.69
13.96
5.28
11.00
4.59
6.15
25.39
24.09
24 09
61
80
80
68
79
63
64
77
58
66
73
70
268
52
74
85
63
300
3.47
-6.96
3.91
-1.49
-14.60
0.90
-0.20
-30.96
11.91
-4.45
5.92
3.80
2.72
-4.93
10.39
0.43
-20.11
7.77
81
83
123
80
92
84
78
72
77
53
62
49
245
49
68
69
39
185
-13.40
-7.04
0.50
8.09
5.26
9.49
5.79
-4.12
13.88
-9.24
-5.65
-6.79
8.40
10.29
2.96
-4.55
14.26
7.56
99
89
80
61
67
71
52
55
69
29
33
27
133
33
35
36
46
201
25- Semmes
3
2
2008 1
Annual 2007
4
3
2
2007 1
A
Annual
l 2006
26- Semmes / Wilmer Lott Rd
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
27- Saraland
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
Mobile Residential
Page - 7
Price Appreciation % by Zone
Zone
Average Median Sale
Year /
Sale Price %
Price %
Quarter
28- Saraland / Satsuma Axis / Creola
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
-13.38
-7.68
5.81
3.58
-5.30
32.34
26.54
-2.12
22.77
Average
Days on
Market
Number
Sold
87
100
108
66
73
66
80
56
57
29
42
34
161
34
24
41
44
133
6.00%
38.71%
-20.28%
-14.07%
-54.65%
-33.92
-26.52
37.39
24.08
59
90
155
75
34
69
71
146
114
6
7
7
43
9
15
12
7
51
18.00
-14.81
1.98
-27.79
-4.95
-20.34
-5.59
-32.40
-2.13
431
149
220
177
137
67
210
171
145
14
11
10
39
10
4
16
12
56
78
84
77
114
90
100
125
135
68
16
10
8
54
11
13
18
12
41
-9.27
-0.87
-0.10
3.07
1.94
22.55
5.19
1.79
22.79
29- NE Mobile City / Mt Vernon
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
-9.18%
52.04%
-47.29%
-16.47%
-46.89%
-37.32
-27.97
93.94
41.92
30- Dauphin Island
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
9.66
-13.95
18.16
-19.65
-20.50
-35.98
-3.96
-35.80
7.44
31- NW Mobile City / Citronelle
3
2
2008 1
Annual 2007
4
3
2
2007 1
Annual 2006
25.64
0.52
17.93
-4.04
20.30
-2.30
-20.38
-0.82
1.37
23.77
-26.22
-14.26
10.78
4.64
-2.86
21.33
-2.86
12.72
Figures represent 4‐quarter or annual price appreciation calculated from the same quarter
one year earlier. For example, the Downtown median percent change between 2006
quarter 2 and 2007 quarter 2 equaled 15.7 percent change on the 13 sold properties.
Mobile Residential
Page - 8
Price Appreciation % by Zone
For further information please contact:
Professor Donald Epley, Director of the Center for Real Estate Studies
E-mail: depley@usouthal.edu
Phone: 251.460.6735 or MLS Office: 251.479.8654
Mobile Residential
Page - 9
Price Appreciation % by Zone