MOBILE MARKET WATCH
Mitchell College of Business
Center for Real Estate Studies
Mobile Residential Reports
Quarterly Price Appreciation % by Zone (2006 ‐ Current)
Winter 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.
"Data you can use."
"Education you can use."
This report is available at the Center for Real Estate Studies (CRES) website:
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 Mobile MSA (City + County) Market Residential Housing Market Watch
Quarterly Price Appreciation (%) by Zone
2006 ‐ Current
Winter 2008
Zone Average Median Year / Sale Price Sale Price %
Quarter
%
Average Days on Market
Number Sold
Mobile Metro Area
Annual 2008
‐3.7
‐1.4
85
4118
4
3
2
2008 1
‐10.5
‐0.02
‐0.76
‐4.95
‐10.4
1.7
‐1.1
‐0.8
78
83
88
89
778
1083
1256
955
Annual 2007
4
3
2
2007 1
Annual 2006
2.0
3.3
‐3.08
3.70
4.10
9.20
2.7
‐0.6
‐1.99
11.90
4.10
11.42
66
70
64
65
66
55
5096
1101
1,351
1,966
1,149
5,483
01‐ Downtown
Mobile Residential
Annual 2008
‐3.55%
0.56%
85
40
4
3
2
2008 1
‐10.65%
15.09%
‐12.72%
‐30.01%
‐61.96%
28.53%
‐28.63%
‐73.80%
37
107
76
131
9
7
15
9
Annual 2007
4
3
2
2007 1
Annual 2006
‐11.12%
3.94%
‐13.97
‐0.66
65.71
21.07
‐14.63%
11.77%
9.76
15.70
12.72
43.52
77
79
92
70
112
97
52
20
11
13
4
39
Page - 2
Price Appreciation % by Zone
Zone Average Median Year / Sale Price Sale Price %
Quarter
%
Average Days on Market
Number Sold
02‐ MidTown South
Annual 2008
4.75
5.48
68
51
4
3
2
2008 1
1.61
8.00
13.36
‐21.88
‐13.17
‐0.27
21.38
‐9.27
46
57
91
63
13
10
20
7
Annual 2007
4
3
2
2007 1
Annual 2006
‐3.67
‐7.25
‐11.13
15.92
12.16
16.21
‐9.86
‐13.81
‐0.14
8.22
25.00
14.48
54
60
64
55
64
79
62
19
14
13
16
265
03‐ Midtown East
Annual 2008
8.23
9.67
77
199
4
3
2
2008 1
6.12
9.08
7.45
6.75
‐13.04
11.18
11.33
13.34
72
86
82
69
34
54
64
43
0.68
2.42
2.14
6.31
‐10.86
21.46
0.67
2.40
7.04
2.49
6.07
18.96
67
70
80
55
64
53
294
59
75
96
62
307
Annual 2007
4
3
2
2007 1
Annual 2006
04‐ Dauphin Island Parkway ‐ North
Mobile Residential
Annual 2008
‐18.88
‐31.55
81
187
4
3
2
2008 1
‐16.78
‐10.17
‐19.25
‐29.63
‐18.32
‐14.58
‐36.49
‐36.05
85
79
88
84
41
54
45
39
Annual 2007
4
3
2
2007 1
Annual 2006
0.80
‐9.76
‐3.28
8.12
7.00
15.95
7.50
1.04
‐7.69
9.62
7.71
13.21
56
62
62
50
51
77
203
44
57
52
50
217
Page - 3
Price Appreciation % by Zone
Zone Average Median Year / Sale Price Sale Price %
Quarter
%
Average Days on Market
Number Sold
07‐ MidTown West
Annual 2008
8.71
3.15
67
124
4
3
2
2008 1
42.27
‐10.93
‐10.93
9.38
23.33
‐12.39
‐12.39
7.78
71
64
71
65
29
37
30
27
Annual 2007
4
3
2
2007 1
Annual 2006
9.57
‐1.56
‐31.17
‐18.22
34.28
29.35
5.88
0.00
‐59.35
‐19.36
46.39
29.41
47
48
62
59
40
76
127
35
20
16
17
51
09‐ MidCentral
Annual 2008
‐16.49
‐25.77
72
85
4
3
2
2008 1
‐24.00
‐4.83
‐10.34
‐13.43
‐38.87
‐5.56
‐22.22
‐1.43
34
96
83
72
17
17
24
26
Annuual 2007
4
3
2
2007 1
Annual 2006
‐15.99
‐16.98
‐31.17
‐18.22
34.28
29.35
‐13.39
83.70
‐59.35
‐19.36
46.39
29.41
58
57
62
59
40
76
50
26
20
16
17
51
10‐ Eight Mile/Pritchard
Mobile Residential
Annual 2008
‐17.36%
‐9.72%
86
51
4
3
2
2008 1
‐13.24%
11.68%
‐27.84%
‐1.40%
‐10.22%
9.33%
‐8.10%
‐16.87%
62
90
102
48
17
13
10
14
Annual 2007
4
3
2
2007 1
Annual 2006
‐2.39%
30.67%
46.65
‐19.99
‐9.65
46.01
‐1.02%
44.95%
50.05
‐19.58
1.53
54.76
56
48
44
51
88
80
57
14
28
24
24
91
Page - 4
Price Appreciation % by Zone
Zone Average Median Year / Sale Price Sale Price %
Quarter
%
Average Days on Market
Number Sold
11‐ Chickasaw
Annual 2008
‐2.05
‐5.43
70
89
4
3
2
2008 1
‐6.92
1.33
12.88
‐15.13
‐12.96
‐4.15
7.24
‐15.13
58
84
52
89
25
13
22
28
Annual 2007
4
3
2
2007 1
Annual 2006
‐0.18
8.47
‐7.17
‐15.30
21.43
17.02
8.83
12.15
‐1.81
7.39
19.17
12.28
61
60
61
44
84
81
114
29
25
34
25
120
14‐ Munipcal Park / West Ctrl
Annual 2008
‐10.38
‐11.82
77
267
4
3
2
2008 1
‐18.40
‐3.73
‐8.26
‐14.39
‐19.05
‐5.14
‐8.03
‐17.10
72
71
76
87
44
62
83
74
Annual 2007
4
3
2
2007 1
Annual 2006
‐3.30
‐7.00
‐9.09
‐5.81
5.34
23.18
3.73
6.33
‐6.60
4.88
14.72
18.11
59
72
59
62
51
47
298
67
83
78
79
357
15‐ Springhill/USA
Mobile Residential
Annual 2008
‐4.29
‐2.91
85
194
4
3
2
2008 1
‐11.20
‐13.02
10.15
‐24.43
‐1.71
0.94
‐13.65
7.28
124
67
95
66
31
49
60
50
Annual 2007
4
3
2
2007 1
Annual 2006
10.18
30.22
‐17.25
14.90
18.81
15.37
17.45
29.73
‐5.18
31.60
‐0.67
5.36
73
75
78
75
72
68
253
47
72
72
59
301
Page - 5
Price Appreciation % by Zone
Zone Average Median Year / Sale Price Sale Price %
Quarter
%
Average Days on Market
Number Sold
16‐ Cottage Hill North
Annual 2008
‐9.60
‐4.67
82
306
4
3
2
2008 1
‐23.23
‐20.66
‐4.00
‐11.67
‐10.84
11.55
‐3.62
16.44
75
89
87
72
57
82
101
64
Annual 2007
4
3
2
2007 1
Annual 2006
7.75
21.07
‐0.33
2.49
16.20
12.77
5.19
18.78
‐11.51
13.60
‐8.85
14.32
68
67
57
72
80
61
408
97
94
119
86
389
17‐ Cottage Hill South
Annual 2008
1.23
‐6.25
82
242
4
3
2
2008 1
2.37
3.31
5.04
‐8.43
‐6.22
‐8.26
‐8.53
‐4.31
61
74
86
95
39
57
81
63
Annual 2007
4
3
2
2007 1
Annual 2006
13.69
20.63
4.56
‐2.65
27.08
16.01
8.14
2.59
9.69
4.23
15.40
18.40
62
73
56
55
69
42
275
48
65
85
81
340
18‐ West Mobile
Annual 2008
Mobile Residential
2.82
‐4.32
81
454
4
3
2
2008 1
‐10.42
3.08
6.88
3.40
‐18.16
‐1.82
5.96
‐5.71
80
73
92
77
76
117
158
99
Annual 2007
4
3
2
2007 1
Annual 2006
‐2.02
‐3.06
8.74
2.68
‐8.50
‐8.58
3.51
‐2.06
10.24
‐0.38
2.28
6.63
64
80
61
61
72
68
587
120
88
80
71
350
Page - 6
Price Appreciation % by Zone
Zone Average Median Year / Sale Price Sale Price %
Quarter
%
Average Days on Market
Number Sold
19‐ Tillman's Corner
Annual 2008
7.81
2.12
90
140
4
3
2
2008 1
3.98
‐1.73
7.31
21.20
‐11.36
‐4.25
2.65
30.00
93
91
85
94
29
40
40
29
Annual 2007
4
3
2
2007 1
Annual 2006
4.57
‐6.44
8.74
2.68
‐8.50
‐8.58
6.31
2.49
10.24
‐0.38
2.28
6.63
53
57
61
61
72
68
162
32
88
80
71
350
20‐ Western Bay Shores
Annual 2008
‐8.56
‐9.39
117
86
4
3
2
2008 1
‐14.34
7.37
‐16.41
‐25.30
‐52.02
10.55
5.26
5.80
89
83
146
186
16
30
26
10
Annual 2007
4
3
2
2007 1
Annual 2006
15.97
27.47
‐12.33
62.01
15.19
‐20.45
13.64
81.04
3.59
38.09
15.25
‐28.22
88
63
83
82
130
82
129
19
46
36
23
169
21‐ Dauphin Island Parkway ‐ South
Mobile Residential
Annual 2008
‐22.82
‐14.27
95
106
4
3
2
2008 1
‐48.95
‐8.38
4.27
‐2.33
‐20.89
‐35.62
0.87
‐13.25
82
98
89
109
19
32
29
29
Annual 2007
4
3
2
2007 1
Annual 2006
7.46
39.33
12.45
‐7.97
17.82
‐0.26
3.06
3.89
‐7.94
6.42
10.67
14.08
78
75
68
89
81
76
150
30
43
47
35
126
Page - 7
Price Appreciation % by Zone
Zone Average Median Year / Sale Price Sale Price %
Quarter
%
Average Days on Market
Number Sold
22‐ S Mobile County / Theodore
Annual 2008
‐13.87
‐4.68
78
212
4
3
2
2008 1
‐19.55
‐21.43
‐6.13
‐10.68
‐6.77
‐10.60
0.79
‐3.54
92
74
74
74
49
52
61
48
Annual 2007
4
3
2
2007 1
Annual 2006
0.26
5.19
15.53
‐1.15
‐16.50
15.20
4.96
5.12
12.36
2.70
3.72
18.82
55
64
56
52
50
52
243
46
74
64
59
254
23‐ Grand Bay North
Annual 2008
‐19.40
‐23.07
79
70
4
3
2
2008 1
‐5.41
7.23
‐28.19
‐31.43
‐34.62
8.46
‐24.45
‐39.42
88
71
89
59
12
19
25
14
Annual 2007
4
3
2
2007 1
Annual 2006
4.54
‐24.21
‐12.87
18.72
27.26
7.53
1.04
‐20.65
‐10.49
5.12
22.00
21.91
55
60
63
37
73
41
134
28
15
52
39
138
24‐ West Mobile County
Mobile Residential
Annual 2008
‐4.63
‐1.58
97
359
4
3
2
2008 1
‐12.88
‐8.53
1.78
2.05
‐7.07
‐3.93
6.70
‐0.58
91
81
96
102
48
125
124
80
Annual 2007
4
3
2
2007 1
Annual 2006
8.36
3.60
14.01
7.36
11.14
13.40
8.89
6.32
16.44
5.95
15.02
7.45
64
68
66
65
59
38
501
120
130
149
103
528
Page - 8
Price Appreciation % by Zone
Zone Average Median Year / Sale Price Sale Price %
Quarter
%
Average Days on Market
Number Sold
25‐ Semmes
Annual 2008
11.98
12.68
66
290
4
3
2
2008 1
21.93
2.16
2.75
7.36
35.06
7.71
9.69
13.96
56
61
80
80
60
66
73
70
Annual 2007
4
3
2
2007 1
Annual 2006
1.74
5.13
6.11
12.00
26.33
28.32
5.28
11.00
4.59
6.15
25.39
24.09
68
79
63
64
77
58
268
52
74
85
63
300
26‐ Semmes / Wilmer Lott Rd
Annual 2008
4
3
2
2008 1
‐3.16
‐10.26
3.47
‐6.96
3.91
1.03
‐10.00
‐4.45
5.92
3.80
89
67
81
83
123
212
45
53
62
49
Annual 2007
4
3
2
2007 1
Annual 2006
‐1.49
‐14.60
0.90
‐0.20
‐30.96
11.91
2.72
‐4.93
10.39
0.43
‐20.11
7.77
80
92
84
78
72
77
245
49
68
69
39
185
27‐ Saraland
Mobile Residential
Annual 2008
4
3
2
2008 1
‐6.86
‐9.26
‐13.40
‐7.04
0.50
‐8.90
‐10.37
‐9.24
‐5.65
‐6.79
83
66
99
89
80
120
29
29
33
27
Annual 2007
4
3
2
2007 1
Annual 2006
8.09
5.26
9.49
5.79
‐4.12
13.88
8.40
10.29
2.96
‐4.55
14.26
7.56
61
67
71
52
55
69
133
33
35
36
46
201
Page - 9
Price Appreciation % by Zone
Zone Average Median Year / Sale Price Sale Price %
Quarter
%
Average Days on Market
Number Sold
28‐ Saraland / Satsuma Axis / Creola
Annual 2008
4
3
2
2008 1
‐1.51
2.69
‐13.38
‐7.68
5.81
0.27
‐2.72
‐9.27
‐0.87
‐0.10
96
73
87
100
108
126
20
29
42
34
Annual 2007
4
3
2
2007 1
Annual 2006
3.58
‐5.30
32.34
26.54
‐2.12
22.77
3.07
1.94
22.55
5.19
1.79
22.79
66
73
66
80
56
57
161
34
24
41
44
133
29‐ NE Mobile City / Mt Vernon
Annual 2008 ‐8.21145341 ‐0.83632019
4 ‐15.0189366
18
3
‐9.18%
6.00%
2
52.04%
38.71%
2008 1
‐47.29%
‐20.28%
99
86
59
90
155
27
7
6
7
7
Annual 2007
4
3
2
2007 1
Annual 2006
75
34
69
71
146
114
43
9
15
12
7
51
‐16.47%
‐46.89%
‐37.32
‐27.97
93.94
41.92
‐14.07%
‐54.65%
‐33.92
‐26.52
37.39
24.08
30‐ Dauphin Island
Mobile Residential
Annual 2008
4
3
2
2008 1
1.91
46.99
9.66
‐13.95
18.16
5.66
‐6.25
18.00
‐14.81
1.98
294
364
431
149
220
41
6
14
11
10
Annual 2007
4
3
2
2007 1
Annual 2006
‐19.65
‐20.50
‐35.98
‐3.96
‐35.80
7.44
‐27.79
‐4.95
‐20.34
‐5.59
‐32.40
‐2.13
177
137
67
210
171
145
39
10
4
16
12
56
Page - 10
Price Appreciation % by Zone
Zone Average Median Year / Sale Price Sale Price %
Quarter
%
Average Days on Market
Number Sold
31‐ NW Mobile City / Citronelle
Annual 2008
4
3
2
2008 1
5.10
3.63
25.64
0.52
17.93
‐11.94
‐32.80
23.77
‐26.22
‐14.26
88
139
78
84
77
40
6
16
10
8
Annual 2007
4
3
2
2007 1
Annual 2006
‐4.04
20.30
‐2.30
‐20.38
‐0.82
1.37
10.78
4.64
‐2.86
21.33
‐2.86
12.72
114
90
100
125
135
68
54
11
13
18
12
41
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 Q2 and 2007 Q2 equaled 15.7% change on the 13 sold properties.
For further information please contact:
Professor Don Epley, Director, Center for Real Estate Studies
E‐mail: depley@usouthal.edu Phone: 251.460.6735 or MLS Office: 251.479.8654
Mobile Residential
Page - 11
Price Appreciation % by Zone