MOBILE MARKET WATCH
Mitchell College of Business
Center for Real Estate Studies
Mobile Residential Reports
Price Trends 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 Trends by Zone
Mobile MSA (City + County)
Mobile
Market
Watch
Residential Housing Market
Price Trends by Zone
Summer 2008
Zone
Year /
Quarter
Avg Sale
Price
Median Sale
Price
Avg Sales Avg Days Number Conventional
Price S.F. on Market
Sold
as % of Total
Conv
FHA as % FHA Sales Cash as % Cash Sales
Sales
of Total
Price S.F.
of Total
Price S.F.
Price S.F.
Total Mobile MLS
2008 3
2008 2
2008 1
156,047
162,801
144,326
137,900
138,975
129,000
85
86
81
83
88
89
1,083
1,256
955
37.48
43.23
48.80
96
96
91
35.83
31.37
25.24
84
84
82
19.02
17.99
18.95
60
64
59
Annual 2007 158,891
2007 4 158,914
135,702
136,705
87
88
66
70
5,097
1,099
68.65
62.60
91
94
11.36
15.56
82
82
14.89
15.29
73
74
01-Downtown
01 D
t
2008 3
150,469
144,600
110
107
7
71.42
143
0.00
0
28.57
29
2008 2
2008 1
143,985
150,076
164,650
169,900
115
130
76
131
15
9
60.00
66.67
128
128
6.67
0.00
48
0
33.33
22.22
105
94
Annual 2007 151,220
2007 4 157,961
132,753
167,961
100
116
77
79
52
20
61.54
65.00
110
116
7.69
5.00
76
68
25.00
25.00
83
115
168,408
175,085
118,286
129,750
145,600
117,500
85
84
57
57
91
63
10
20
7
60.00
75.00
57.14
92
99
64
30.00
5.00
14.29
91
96
64
10.00
20.00
28.57
23
25
40
Annual 2007 162,020
2007 4 183,261
135,100
167,000
82
95
54
60
62
19
69.35
63.16
91
109
3.23
5.26
63
76
22.58
21.00
61
65
187,299
188,662
160,098
168,960
174,450
144,400
97
96
100
86
81
69
54
64
43
59.25
53.13
69.77
99
103
103
22.22
28.13
11.63
96
98
98
12.96
17.19
16.28
77
71
98
Annual 2007 167,072
2007 4 166,265
150,000
149,500
105
121
67
70
294
59
77.21
71.19
107
120
5.78
11.86
106
113
14.97
15.25
96
124
02-MidTown South
2008 3
2008 2
2008 1
03-MidTown East
2008 3
2008 2
2008 1
Mobile Residential
Page - 2
Price Trends by Zone
Price Trends by Zone
Summer 2008
Zone
Year /
Quarter
Avg Sale
Price
Median Sale
Price
Avg Sales Avg Days Number Conventional
Price S.F. on Market
Sold
as % of Total
Conv
FHA as % FHA Sales Cash as % Cash Sales
Sales
of Total
Price S.F.
of Total
Price S.F.
Price S.F.
04-Dauphin Isnd Pkwy / North
2008 3
2008 2
2008 1
54,900
57,996
42,332
51,250
47,000
36,900
40
43
32
73
88
84
54
45
39
0.09
24.44
28.21
34
45
32
33.33
98.87
10.26
62
60
61
53.70
46.67
51.28
27
30
28
Annual 2007
2007 4
62,593
56,367
64,500
53,500
49
44
56
62
203
44
49.26
29.55
54
39
17.24
29.55
63
61
28.08
31.82
30
34
07-Mid Town West
2008 3
2008 2
2008 1
99,482
98,666
117,192
85,000
96,681
93,000
71
71
68
64
71
65
37
30
27
27.03
46.67
51.85
74
58
73
51.35
26.67
22.22
77
74
83
18.91
20.00
22.22
48
58
40
Annual 2007
2007
2007 4
104,721
721
103,620
92,000
90,000
72
72
47
48
127
35
66 14
66.
51.43
77
76
9 45
9.4
5
17.14
80
83
18.90
20.00
54
56
35,000
35,000
36,250
48,500
62,000
35
32
34
40
43
96
83
72
58
57
17
24
26
104
26
11.76
25.00
38.46
42.31
34.62
18
57
39
47
46
41.18
16.67
11.54
16.35
26.92
58
43
54
58
66
41.18
54.17
46.15
36.54
34.62
20
17
23
22
24
09- MidCentral
2008 3
2008 2
2008 1
Annual 2007
2007 4
53,485
44,967
43,934
55,273
58,735
10-Eight Mile / Pritchard
2008 3
2008 2
2008 1
89,244
59,746
67,036
82,000
79,950
65,000
56
42
45
90
102
93
13
10
11
7.69
10.00
45.45
23
50
52
53.84
40.00
9.09
23
55
84
30.77
40.00
36.36
40
20
28
Annual 2007
2007 4
80,601
60,449
72,000
47,895
53
39
56
48
57
14
54.39
42.86
62
34
12.28
14.29
68
60
28.07
28.57
29
32
2008 3
2008 2
2008 1
76,462
77,585
63,915
75,000
79,400
69,450
49
57
47
84
52
89
13
22
28
38.46
31.82
39.29
43
64
53
38.46
36.36
21.43
63
65
68
15.38
22.73
21.43
27
32
26
Annual 2007
2007 4
75,164
83,209
78,250
84,900
56
64
61
60
114
29
64.91
44.83
58
66
14.91
34.48
70
68
17.54
17.24
38
47
11-Chickasaw
Mobile Residential
Page - 3
Price Trends by Zone
Price Trends by Zone
Summer 2008
Zone
Year /
Quarter
Avg Sale
Price
Median Sale
Price
Avg Sales Avg Days Number Conventional
Price S.F. on Market
Sold
as % of Total
Conv
FHA as % FHA Sales Cash as % Cash Sales
Sales
of Total
Price S.F.
of Total
Price S.F.
Price S.F.
14-MunPark / West Ctrl
2008 3
2008 2
2008 1
101,636
103,260
96,827
104,250
102,000
95,250
69
68
69
71
76
87
62
83
74
20.97
22.89
37.84
69
72
70
48.39
44.58
41.89
72
76
79
20.97
26.51
16.22
53
50
46
Annual 2007
2007 4
108,968
105,290
110,000
105,000
71
69
59
72
299
67
66.56
53.73
73
67
15.05
23.88
79
80
12.37
11.94
54
66
15-Springhill / USA
2008 3
2008 2
2008 1
211,277
295,778
212,391
171,500
176,150
162,000
109
123
110
67
95
66
49
60
50
51.02
58.33
70.00
119
171
113
20.41
21.67
6.00
98
101
100
26.53
15.00
24.00
97
171
105
Annual 2007
2007
2007 4
256
25
6,314
260,795
175
75,000
175,000
112
114
73
73
75
253
25
3
47
72.73
72
73
65.96
111
109
3 56
3.5
6
6.38
103
106
22.92
25.53
115
128
16- Cottage Hill North
2008 3
2008 2
2008 1
179,908
159,591
160,098
145,950
139,900
152,500
89
89
87
89
87
72
82
101
64
54.88
50.50
57.81
98
92
89
26.83
32.67
17.19
82
86
84
12.41
11.88
17.19
74
91
86
Annual 2007
2007 4
181,376
202,312
149,900
166,000
89
92
68
67
408
97
73.77
70.10
90
94
8.58
13.40
87
88
14.71
11.34
89
99
17-Cottage Hill South
2008 3
2008 2
2008 1
196,828
210,970
187,523
150,000
149,100
153,000
91
94
86
74
86
95
57
81
63
47.36
45.68
52.38
97
100
91
38.60
34.57
26.98
85
82
83
14.04
9.88
14.29
87
81
79
Annual 2007
2007 4
196,339
192,735
160,000
148,750
91
91
62
73
275
48
76.00
72.92
93
94
9.09
12.50
86
84
10.91
10.42
83
86
18- West Mobile
2008 3
2008 2
2008 1
191,576
201,670
183,602
162,000
169,000
151,000
98
98
94
73
92
77
117
158
99
41.88
58.23
62.63
103
102
97
37.61
21.52
20.20
95
93
90
12.82
10.76
11.11
90
89
82
Annual 2007
2007 4
185,454
189,988
162,000
170,450
97
97
64
80
587
120
76.32
74.17
97
98
10.05
13.33
94
95
8.69
8.33
96
94
Mobile Residential
Page - 4
Price Trends by Zone
Price Trends by Zone
Summer 2008
Zone
Year /
Quarter
Avg Sale
Price
Median Sale
Price
Avg Sales Avg Days Number Conventional
Price S.F. on Market
Sold
as % of Total
Conv
FHA as % FHA Sales Cash as % Cash Sales
Sales
of Total
Price S.F.
of Total
Price S.F.
Price S.F.
19-Tillman's Corner
2008 3
2008 2
2008 1
125,991
147,151
127,201
123,425
131,000
130,000
79
82
72
91
85
94
40
40
29
30.00
35.00
39.93
71
82
73
37.50
47.50
39.93
92
83
81
30.00
12.50
6.90
72
66
31
Annual 2007
2007 4
123,298
120,383
120,450
119,750
80
76
53
57
162
32
66.67
56.25
81
81
16.05
15.63
80
76
7.41
12.50
75
79
20-Western Bay Shores
2008 3
2008 2
2008 1
150,525
202,259
165,240
110,000
170,000
118,500
76
95
86
83
146
186
30
26
10
43.33
50.00
40.00
91
105
122
26.67
23.08
30.00
71
76
67
30.00
26.92
30.00
59
91
58
Annual 2007
2007
2007 4
185,996
185
188,500
137,95
137
950
0
160,500
99
111
81
63
108
18
68 52
68.52
72.22
101
131
9 26
9.26
5.56
70
74
19.44
16.67
104
65
21-Dauphin Isnd Pkwy/ South
2008 3
2008 2
2008 1
97,385
94,087
94,495
51,500
82,375
72,000
65
53
63
98
89
109
32
29
29
21.85
27.59
41.38
142
61
72
21.85
31.03
27.59
54
60
77
46.88
41.38
20.70
35
43
32
Annual 2007
2007 4
114,182
118,677
79,900
73,950
70
73
84
75
171
30
57.89
43.33
79
92
13.45
16.67
72
79
24.56
30.00
51
45
22-South Mobile County / Theodore
2008 3
2008 2
2008 1
105,452
112,250
103,386
111,750
117,900
114,300
72
75
71
74
74
74
52
61
48
26.92
19.67
29.17
74
77
84
42.31
40.98
39.58
80
85
83
23.08
24.59
25.00
54
49
42
Annual 2007
2007 4
126,059
135,181
119,600
121,202
80
78
55
64
243
46
59.26
47.83
84
86
20.16
21.74
80
75
13.58
23.91
64
72
2008 3
2008 2
2008 1
143,609
120,542
121,444
155,000
124,000
100,525
83
79
64
71
89
59
19
25
14
42.11
40.00
35.71
90
86
94
36.84
36.00
14.29
91
88
47
15.79
16.00
35.71
37
43
51
Annual 2007
2007 4
159,208
131,743
161,187
139,575
84
71
55
60
243
28
59.26
46.43
84
87
20.16
21.43
80
71
13.58
21.43
64
39
23-Grand Bay
Mobile Residential
Page - 5
Price Trends by Zone
Price Trends by Zone
Summer 2008
Zone
Year /
Quarter
Avg Sale
Price
Median Sale
Price
Avg Sales Avg Days Number Conventional
Price S.F. on Market
Sold
as % of Total
Conv
FHA as % FHA Sales Cash as % Cash Sales
Sales
of Total
Price S.F.
of Total
Price S.F.
Price S.F.
24- West Mobile County
2008 3 211,543
2008 2 205,209
2008 1 213,529
199,000
191,950
188,450
99
99
100
81
96
102
125
124
80
40.80
50.81
66.25
99
102
103
37.60
33.06
21.25
100
96
95
4.80
4.84
5.00
90
69
82
215,488
222,437
189,900
193,700
104
106
64
68
501
120
78.44
79.17
106
110
8.78
9.17
99
102
5.79
41.67
93
77
2008 3
155,305
153,750
90
61
66
34.85
95
43.94
91
7.58
40
2008 2
2008 1
151,947
147,212
148,900
139,000
84
84
80
80
73
70
42.47
44.29
53
91
36.99
37.14
82
83
10.96
10.00
53
63
Annual 2007
2007
2007 4
147,65
147
658
8
153,921
135,700
135
700
142,900
84
85
68
79
268
52
65.67
65
67
57.69
87
89
17 91
17.
26.92
83
83
8 58
8.5
8
9.62
63
72
Annual 2007
2007 4
25-Semmes
26-Semmes / Wilmer / Lott Road
2008 3
2008 2
2008 1
148,071
136,607
124,810
137,500
141,825
127,350
81
76
72
81
83
123
53
62
49
33.96
38.71
30.61
88
82
89
47.17
30.65
42.86
84
79
71
11.32
20.97
22.45
54
52
46
Annual 2007
2007 4
138,963
138,118
133,530
135,000
78
79
80
92
245
49
70.20
77.55
83
82
12.65
6.12
81
81
11.84
8.16
49
84
2008 3
2008 2
2008 1
153,900
143,476
134,741
119,800
132,000
123,500
77
83
82
99
89
80
29
33
27
41.38
27.27
22.22
77
50
78
34.48
57.57
40.74
82
85
98
20.69
15.15
29.63
63
96
64
Annual 2007
2007 4
151,593
145,941
134,900
135,000
85
82
61
67
133
33
63.91
60.61
86
85
15.04
24.24
84
75
17.29
12.12
76
86
27-Saraland
28-Saraland / Satsuma / Axis / Creola
2008 3
2008 2
2008 1
157,431
171,661
161,207
150,000
154,450
140,555
84
90
89
87
100
108
29
42
34
41.38
40.48
50.00
83
91
92
37.93
33.33
23.53
93
90
95
17.24
11.90
14.71
67
90
76
Annual 2007
2007 4
166,237
147,672
147,500
141,700
91
93
66
73
161
34
69.57
58.82
93
99
12.42
14.71
93
98
14.29
17.65
75
80
Mobile Residential
Page - 6
Price Trends by Zone
Price Trends by Zone
Summer 2008
Zone
Year /
Quarter
Avg Sale
Price
Median Sale
Price
Avg Sales Avg Days Number Conventional
Price S.F. on Market
Sold
as % of Total
Conv
FHA as % FHA Sales Cash as % Cash Sales
Sales
of Total
Price S.F.
of Total
Price S.F.
Price S.F.
29-NE Mobile City / Mt. Vernon
2008 3
2008 2
2008 1
84,800
128,636
111,524
79,500
110,000
119,500
56
77
67
59
90
155
6
7
7
33.33
14.29
28.57
52
55
45
50.00
42.86
57.14
69
90
84
16.67
42.86
14.29
26
55
43
Annual 2007
2007 4
106,047
73,667
83,700
50,000
58
49
75
34
43
9
53.49
44.44
72
51
6.98
22.22
76
74
34.88
33.33
29
29
30-Dauphin Island
2008 3
2008 2
2008 1
304,855
351,841
322,774
273,235
345,000
247,500
219
230
225
431
149
220
14
11
10
42.86
63.63
70.00
251
219
218
0.00
0.00
0.00
0
0
0
35.71
36.36
20.00
180
250
294
Annual 2007
2007
2007 4
327,317
327
261,923
265,000
265
240,000
266
192
177
177
201
39
7
56.41
56
71.43
255
183
0 00
0.
0.00
0
0
41.03
28.57
271
27
1
214
31-NW Mobile City / Citronelle
2008 3
2008 2
2008 1
135,547
100,400
111,026
126,250
74,000
113,605
72
63
66
78
84
77
16
10
8
18.75
30.00
37.50
93
43
81
31.25
50.00
37.50
72
89
68
31.25
20.00
12.50
44
28
43
Annual 2007
2007 4
115,849
130,191
121,750
125,000
71
80
114
90
54
11
64.81
81.82
78
87
12.96
0.00
68
0
18.52
9.10
54
72
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 - 7
Analysis completed by:
Center for Real Estate Studies
Mitchell College of Business
University of South Alabama
Price Trends by Zone