MOBILE MARKET WATCH
Mitchell College of Business
Center for Real Estate Studies
Mobile Residential Reports
Price Trends by Zone
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.
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
Winter 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
Annual 2008
2008 4
2008 3
2008 2
2008 1
153,000
142,257
156,047
162,801
144,326
133,850
122,500
137,900
138,975
129,000
83
76
85
86
81
85
78
83
88
89
4118
778
1,083
1,256
955
41.36
34.45
37.48
43.23
48.80
93
86
96
96
91
31.84
35.22
35.83
31.37
25.24
83
80
84
84
82
19.57
23.52
19.02
17.99
18.95
59
52
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
145,851
141,146
150,469
143,985
150,076
133,500
63,900
144,600
164,650
169,900
109
76
110
115
130
85
37
107
76
131
40
9
7
15
9
52.5
11.11
71.42
60.00
66.67
136
227
143
128
128
7.5
22.22
0.00
6.67
0.00
48
48
0
48
0
35
55.56
28.57
33.33
22.22
76
58
29
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
169,716
186,212
168,408
175,085
118,286
142,500
145,000
129,750
145,600
117,500
79
75
85
84
57
68
46
57
91
63
51
13
10
20
7
58.82
30.77
60.00
75.00
57.14
97
124
92
99
64
13.73
15.38
30.00
5.00
14.29
87
89
91
96
64
27.45
53.84
10.00
20.00
28.57
36
43
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
01-Downtown
Annual 2008
2008 4
2008 3
2008 2
2008 1
02-MidTown South
Annual 2008
2008 4
2008 3
2008 2
2008 1
Mobile Residential
Page - 2
Price Trends by Zone
Price Trends by Zone
Winter 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.
03-MidTown East
Annual 2008
2008 4
2008 3
2008 2
2008 1
180,820
176,436
187,299
188,662
160,098
164,500
130,000
168,960
174,450
144,400
97
90
97
96
100
77
72
86
81
69
199
34
54
64
43
57.29
44.12
59.25
53.13
69.77
102
95
99
103
103
36.13
20.59
22.22
28.13
11.63
97
94
96
98
98
27.73
23.53
12.96
17.19
16.28
78
73
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
04-Dauphin Isnd Pkwy / North
2008
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
50
50,775
,775
46,910
54,900
57,996
42,332
44
44,150
,150
43,700
51,250
47,000
36,900
38
36
40
43
32
81
85
73
88
84
187
41
54
45
39
19.25
21.95
0.09
24.44
28.21
36
31
34
45
32
22.46
21.95
33.33
98.87
10.26
61
60
62
60
61
52.94
56.09
53.70
46.67
51.28
28
29
27
30
28
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
94,900
111,000
85,000
96,681
93,000
72
77
71
71
68
67
71
64
71
65
124
29
37
30
27
40.32
37.93
27.03
46.67
51.85
77
90
74
58
73
32.26
24.14
51.35
26.67
22.22
78
82
77
74
83
22.58
31.03
18.91
20.00
22.22
52
58
48
58
40
92,000
90,000
72
72
47
48
127
35
66.14
51.43
77
76
9.45
17.14
80
83
18.90
20.00
54
56
36,000
37,900
35,000
35,000
36,250
33
31
35
32
34
72
34
96
83
72
85
17
17
24
26
28.24
35.29
11.76
25.00
38.46
37
23
18
57
39
21.18
23.53
41.18
16.67
11.54
55
62
58
43
54
43.53
29.41
41.18
54.17
46.15
20
22
20
17
23
07-Mid Town West
Annual 2008 113,844
2008 4 147,420
2008 3 99,482
2008 2 98,666
2008 1 117,192
Annual 2007 104,721
2007 4
103,620
09- MidCentral
Annual 2008
2008 4
2008 3
2008 2
2008 1
46,160
44,638
53,485
44,967
43,934
Mobile Residential
Page - 3
Price Trends by Zone
Price Trends by Zone
Winter 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.
09- MidCentral - Continued …
Annual 2007
2007 4
55,273
58,735
48,500
62,000
40
43
58
57
104
26
42.31
34.62
47
46
16.35
26.92
58
66
36.54
34.62
22
24
66,609
52,447
89,244
59,746
67,036
65,000
43,000
82,000
79,950
65,000
42
31
56
42
45
86
62
90
102
93
51
17
13
10
11
15.69
5.88
7.69
10.00
45.45
46
31
23
50
52
35.29
29.41
53.84
40.00
9.09
61
60
23
55
84
43.14
58.24
30.77
40.00
36.36
25
19
40
20
28
80,601
60,449
72,000
47,895
53
39
56
48
57
14
54.39
42 86
42.
62
34
12.28
14.29
68
60
28.07
28.57
29
32
Annual 2008
2008 4
2008 3
2008 2
2008 1
73,626
77,447
76,462
77,585
63,915
74,000
73,900
75,000
79,400
69,450
50
49
49
57
47
70
58
84
52
89
89
25
13
22
28
28.09
8
38.46
31.82
39.29
53
38
43
64
53
38.2
56
38.46
36.36
21.43
63
59
63
65
68
23.59
32
15.38
22.73
21.43
29
31
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
97,000
85,000
104,250
102,000
95,250
66
56
69
68
69
77
72
71
76
87
267
44
62
83
74
26.59
22.73
20.97
22.89
37.84
69
58
69
72
70
46.07
54.54
48.39
44.58
41.89
73
62
72
76
79
20.97
22.73
20.97
26.51
16.22
48
40
53
50
46
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
10-Eight Mile / Pritchard
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
11-Chickasaw
14-MunPark / West Ctrl
Annual 2008 97,661
2008 4 85,914
2008 3 101,636
2008 2 103,260
2008 1 96,827
Annual 2007 108,968
2007 4
105,290
Mobile Residential
Page - 4
Price Trends by Zone
Price Trends by Zone
Winter 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.
15-Springhill / USA
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
245,319
231,598
211,277
295,778
212,391
169,900
172,000
171,500
176,150
162,000
114
108
109
123
110
85
124
67
95
66
194
31
49
60
50
57.22
45.16
51.02
58.33
70.00
118
111
119
171
113
18.56
32.25
20.41
21.67
6.00
98
94
98
101
100
21.13
16.13
26.53
15.00
24.00
117
106
97
171
105
256,314
260,795
175,000
175,000
112
114
73
75
253
47
72.73
65.96
111
109
3.56
6.38
103
106
22.92
25.53
115
128
163,970
155,306
179,908
159,591
160,098
142,900
148,000
145,950
139,900
152,500
87
82
89
89
87
82
75
89
87
72
306
57
82
101
64
52.94
49 12
49.
54.88
50.50
57.81
91
85
98
92
89
27.45
29.82
26.83
32.67
17.19
86
93
82
86
84
14.71
19.3
12.41
11.88
17.19
79
65
74
91
86
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
198,760
197,300
196,828
210,970
187,523
150,000
139,500
150,000
149,100
153,000
89
84
91
94
86
82
61
74
86
95
242
39
57
81
63
46.69
41.03
47.36
45.68
52.38
95
91
97
100
91
34.29
38.46
38.60
34.57
26.98
83
84
85
82
83
13.63
17.95
14.04
9.88
14.29
78
68
87
81
79
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
155,000
139,500
162,000
169,000
151,000
86
93
98
98
94
81
80
73
92
77
454
76
117
158
99
51.76
39.47
41.88
58.23
62.63
100
98
103
102
97
27.09
31.58
37.61
21.52
20.20
92
87
95
93
90
12.77
19.74
12.82
10.76
11.11
89
93
90
89
82
16- Cottage Hill North
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
17-Cottage Hill South
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
18- West Mobile
Annual 2008
2008 4
2008 3
2008 2
2008 1
190,676
170,191
191,576
201,670
183,602
Mobile Residential
Page - 5
Price Trends by Zone
Price Trends by Zone
Winter 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.
18- West Mobile - Continued …
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
132,931
125,169
125,991
147,151
127,201
123,000
106,149
123,425
131,000
130,000
78
77
79
82
72
90
93
91
85
94
140
29
40
40
29
35.71
41.38
30.00
35.00
39.93
77
81
71
82
73
38.57
27.59
37.50
47.50
39.93
85
79
92
83
81
18.57
24.14
30.00
12.50
6.90
66
66
72
66
31
123,298
120,383
,383
120
120,450
119,750
80
76
53
57
162
32
66.67
56.25
56.25
81
81
16.05
15.63
15.63
80
76
7.41
12.50
12.50
75
79
170,073
161,469
150,525
202,259
165,240
125,000
77,000
110,000
170,000
118,500
83
80
76
95
86
117
89
83
146
186
86
16
30
26
10
46.51
50
43.33
50.00
40.00
101
97
91
105
122
20.93
6.25
26.67
23.08
30.00
71
51
71
76
67
32.56
43.75
30.00
26.92
30.00
66
64
59
91
58
185,996
188,500
137,950
160,500
99
111
81
63
108
18
68.52
72.22
101
131
9.26
5.56
70
74
19.44
16.67
104
65
19-Tillman's Corner
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
20-Western Bay Shores
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
21-Dauphin Isnd Pkwy/ South
Annual 2008
88,126
68,500
58
95
106
28.3
80
31.13
60
34.91
38
2008 4
2008 3
2008 2
2008 1
Annual 2007
60,589
97,385
94,087
94,495
58,500
51,500
82,375
72,000
41
65
53
63
82
98
89
109
19
32
29
29
10.53
21.85
27.59
41.38
38
142
61
72
47.37
21.85
31.03
27.59
51
54
60
77
43.11
46.88
41.38
20.70
31
35
43
32
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
2007 4
Mobile Residential
Page - 6
Price Trends by Zone
Price Trends by Zone
Winter 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.
22-South Mobile County / Theodore
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
108,577
108,758
105,452
112,250
103,386
114,000
113,000
111,750
117,900
114,300
72
70
72
75
71
78
92
74
74
74
212
49
52
61
48
25
24.49
26.92
19.67
29.17
77
70
74
77
84
42.45
46.94
42.31
40.98
39.58
82
80
80
85
83
22.64
18.37
23.08
24.59
25.00
47
39
54
49
42
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
128,324
124,618
143,609
120,542
121,444
124,000
91,250
155,000
124,000
100,525
75
71
83
79
64
79
88
71
89
59
70
12
19
25
14
40
41.67
41
42.11
40.00
35.71
83
57
90
86
94
31.43
41.67
36.84
36.00
14.29
84
87
91
88
47
20
16.67
15.79
16.00
35.71
48
69
37
43
51
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
205,518
193,784
211,543
205,209
213,529
186,900
180,000
199,000
191,950
188,450
99
94
99
99
100
97
91
81
96
102
359
48
125
124
80
52.37
52.08
40.80
50.81
66.25
101
97
99
102
103
31.48
31.25
37.60
33.06
21.25
98
93
100
96
95
5.29
6.25
4.80
4.84
5.00
78
65
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
165,349
187,672
155,305
151,947
147,212
152,900
193,000
153,750
148,900
139,000
87
86
90
84
84
66
56
61
80
80
290
60
66
73
70
37.24
26.67
34.85
42.47
44.29
92
85
95
53
91
41.38
48.33
43.94
36.99
37.14
88
89
91
82
83
8.62
10
7.58
10.96
10.00
56
62
40
53
63
23-Grand Bay
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
24- West Mobile County
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
25-Semmes
Annual 2008
2008 4
2008 3
2008 2
2008 1
Mobile Residential
Page - 7
Price Trends by Zone
Price Trends by Zone
Winter 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.
25-Semmes - Continued …
Annual 2007
2007 4
147,658
153,921
135,700
142,900
84
85
68
79
268
52
65.67
57.69
87
89
17.91
26.92
83
83
8.58
9.62
63
72
26-Semmes / Wilmer / Lott Road
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
134,573
123,945
148,071
136,607
124,810
134,900
121,500
137,500
141,825
127,350
74
66
81
76
72
89
67
81
83
123
212
45
53
62
49
33.02
28.89
33.96
38.71
30.61
84
73
88
82
89
40.09
42.22
47.17
30.65
42.86
79
79
84
79
71
18.39
17.78
11.32
20.97
22.45
44
27
54
52
46
138,963
138,118
133,530
135,000
78
79
80
92
245
49
70.20
77 55
77.
83
82
12.65
6 12
6.12
81
81
11.84
8 16
8.16
49
84
141,192
132,421
153,900
143,476
134,741
122,900
121,000
119,800
132,000
123,500
80
76
77
83
82
83
66
99
89
80
120
29
29
33
27
31.67
37.93
41.38
27.27
22.22
78
65
77
50
78
45.83
48.28
34.48
57.57
40.74
87
83
82
85
98
18.33
6.89
20.69
15.15
29.63
60
64
63
96
64
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
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
28-Saraland / Satsuma / Axis / Creola
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
163,731
151,638
157,431
171,661
161,207
147,900
137,850
150,000
154,450
140,555
88
84
84
90
89
96
73
87
100
108
126
20
29
42
34
42.06
30
41.38
40.48
50.00
90
85
83
91
92
34.13
50
37.93
33.33
23.53
92
91
93
90
95
13.49
10
17.24
11.90
14.71
73
34
67
90
76
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 - 8
Price Trends by Zone
Price Trends by Zone
Winter 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
Annual 2008 97,339
2008 4 62,603
2008 3 84,800
2008 2 128,636
2008 1 111,524
Annual 2007
2007 4
83,000
59,000
79,500
110,000
119,500
59
35
56
77
67
99
86
59
90
155
27
7
6
7
7
29.63
42.86
33.33
14.29
28.57
54
45
52
55
45
37.04
0
50.00
42.86
57.14
81
0
69
90
84
33.33
57.14
16.67
42.86
14.29
38
28
26
55
43
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
333,560
385,000
304,855
351,841
322,774
280,000
225,000
273,235
345,000
247,500
229
255
219
230
225
294
364
431
149
220
41
6
14
11
10
58.54
66 67
66.
42.86
63.63
70.00
238
285
251
219
218
0
0
0.00
0.00
0.00
0
0
0
0
0
31.71
33.33
35.71
36.36
20.00
222
196
180
250
294
327,317
261,923
265,000
240,000
266
192
177
201
39
7
56.41
71.43
255
183
0.00
0.00
0
0
41.03
28.57
271
214
106,047
73,667
30-Dauphin Island
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
31-NW Mobile City / Citronelle
Annual 2008
2008 4
2008 3
2008 2
2008 1
Annual 2007
2007 4
121,762
134,917
135,547
100,400
111,026
107,210
84,000
126,250
74,000
113,605
67
62
72
63
66
88
139
78
84
77
40
6
16
10
8
32.5
66.67
18.75
30.00
37.50
69
61
93
43
81
35
16.67
31.25
50.00
37.50
78
85
72
89
68
20
0
31.25
20.00
12.50
40
0
44
28
43
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 - 9
Analysis completed by:
Center for Real Estate Studies
Mitchell College of Business
University of South Alabama
Price Trends by Zone