5811 USA Drive South | Mobile, AL 36688
http://creed.southalabama.edu
Telephone: (251) 460-6735
Mobile County, AL
Quarterly Residential Housing Update
2014 | Quarter 1
Mobile Area Association of REALTORS®
2827 Airport Blvd. | Mobile, AL 36606
www.mobilerealtor.com
Telephone: (251) 479-8654
Mobile Quarterly Residential Housing Update
Table of Contents
Mobile County Sales Data ................................................................................................................................... 2
Sales Data Summary by MLS Zones .................................................................................................................... 4
Price Trends: MLS Zone 01 – Downtown ............................................................................................................ 5
Price Trends: MLS Zone 02 – Midtown South..................................................................................................... 5
Price Trends: MLS Zone 03 – MidTown East....................................................................................................... 5
Price Trends: MLS Zone 04 – Dauphin Island Pkwy North .................................................................................. 6
Price Trends: MLS Zone 07 – MidTown West ..................................................................................................... 6
Price Trends: MLS Zone 09 – MidCentral............................................................................................................ 6
Price Trends: MLS Zone 10 – Eight Mile/Prichard .............................................................................................. 7
Price Trends: MLS Zone 11 – Chickasaw ............................................................................................................. 7
Price Trends: MLS Zone 14 – Municipal Park/West Central ............................................................................... 7
Price Trends: MLS Zone 15 – Springhill/USA ...................................................................................................... 8
Price Trends: MLS Zone 16 – Cottage Hill North................................................................................................. 8
Price Trends: MLS Zone 17 – Cottage Hill South................................................................................................. 8
Price Trends: MLS Zone 18 – West Mobile ......................................................................................................... 9
Price Trends: MLS Zone 19 – Tillman’s Corner ................................................................................................... 9
Price Trends: MLS Zone 20 – Western Bay Shores ............................................................................................. 9
Price Trends: MLS Zone 21 – Dauphin Island Pkwy South .................................................................................. 10
Price Trends: MLS Zone 22 – South Mobile County/Theodore .......................................................................... 10
Price Trends: MLS Zone 23 – Grand Bay North................................................................................................... 10
Price Trends: MLS Zone 24 – West Mobile County............................................................................................. 11
Price Trends: MLS Zone 25 – West Mobile/Semmes .......................................................................................... 11
Price Trends: MLS Zone 26 – Semmes/Wilmer/Lott Rd ..................................................................................... 11
Price Trends: MLS Zone 27 – Saraland ................................................................................................................ 12
Price Trends: MLS Zone 28 – Saraland/Satsuma/Axis/Creola ............................................................................ 12
Price Trends: MLS Zone 29 – NorthEast Mobile County/Mt. Vernon................................................................. 12
Price Trends: MLS Zone 30 – Dauphin Island...................................................................................................... 13
Price Trends: MLS Zone 31 – NorthWest Mobile County/Citronelle .................................................................. 13
Credentials and Contact Information ................................................................................................................. 14
2014 | Quarter 1
1
Mobile Quarterly Residential Housing Update
Mobile County Sales Data
Total unit sales for the first quarter of 2014 in Mobile County were 863. Compared to the first quarter of 2013,
total unit sales decreased by 3.03% in the first quarter of 2014. Most residential properties sold in the $0-$99,999
price range. However, unit sales in this price range fell 11.90% compared to the first quarter of 2013. The most
significant increase in a price range occurred in the $300,000-$499,999 price range, where there were a total of
42 unit sales in the first quarter of 2014, or a 50.00% increase from 28 unit sales in the first quarter of 2013.
Total Unit Sales by Price Range
Price Range
2013 - Q1
2014 - Q1
Change
$0-$99,999
$100,000-$199,999
$200,000-$299,999
$300,000-$499,999
$500,000-$999,999
Over $1 million
462
300
90
28
9
1
407
308
96
42
9
1
-11.90%
2.67%
6.67%
50.00%
0.00%
0.00%
Total
890
863
-3.03%
Total Unit Sales
Unit Sales by Sold Terms | 2014 - Q1
950
3%
890
900
863
1%
5% 1%
Auction
0%
Cash
6%
837
850
- 3.03%
800
Conventional
38%
19%
FHA
FHA-203K
742
750
Other
27%
USDA
700
V/L
650
2011 - Q1
2012 - Q1
2013 - Q1
VA
2014 - Q1
Average days on the market (DOM) for the first quarter of
2014 were 116 days. Compared to the first quarter of 2013,
average DOM increased by 9.43%.
Avg. DOM
120
116
115
113
108
110
106
105
+ 9.43%
100
2011 - Q1
2012 - Q1
2013 - Q1
2014 - Q1
2014 | Quarter 1
2
Mobile Quarterly Residential Housing Update
Mobile County Sales Data (continued)
Average sales price in Mobile County increased to $128,738 in the first quarter of 2014, an 8.52% change from the
first quarter of 2013. Median sales price was 9.10% higher in the same period. Both average and median sales
price have been on an increasing trend since the first quarter of 2012.
Quarterly Average & Median Sales Price by Year
$140,000
+ 8.52%
$130,000
$120,000
$110,000
$100,000
+ 9.10%
$90,000
$80,000
Average Sale Price
Median Sale Price
2011 - Q1
$121,705
$109,250
2012 - Q1
$116,598
$90,411
2013 - Q1
$118,626
$96,700
2014 - Q1
$128,738
$105,500
Total Sold Dollar Volume
$111,100,963
$115,000,000
$110,000,000
$105,577,173
$105,000,000
+ 5.23%
$97,593,099
$100,000,000
$95,000,000
$90,305,436
$90,000,000
$85,000,000
$80,000,000
2011 - Q1
2012 - Q1
2013 - Q1
2014 - Q1
Avg. Price per Square Foot
$65
$64
$62
$60
$60
$57
+ 6.67%
$55
$50
2011 - Q1
2012 - Q1
2013 - Q1
2014 - Q1
2014 | Quarter 1
3
Mobile Quarterly Residential Housing Update
Sales Data Summary by MLS Zones
Zone
01
02
03
04
07
09
10
11
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Downtown
Midtown South
MidTown East
Dauphin Island Pkwy North
MidTown West
MidCentral
Eight Mile/Prichard
Chickasaw
Municipal Park/West Central
Springhill/USA
Cottage Hill North
Cottage Hill South
West Mobile
Tillman's Corner
Western Bay Shores
Dauphin Island Pkwy South
South Mobile County/Theodore
Grand Bay North
West Mobile County
West Mobile/Semmes
Semmes/Wilmer/Lott Rd
Saraland
Saraland/Satsuma/Axis/Creola
NorthEast Mobile County/Mt. Vernon
Dauphin Island
NorthWest Mobile County/Citronelle
Totals
Unit
Sales
% of Total
Total Sold
Dollar Volume
% of Total
4
8
29
22
25
20
18
11
45
46
55
63
83
41
19
18
45
18
75
71
33
37
29
8
26
14
0.46%
0.93%
3.36%
2.55%
2.90%
2.32%
2.09%
1.27%
5.21%
5.33%
6.37%
7.30%
9.62%
4.75%
2.20%
2.09%
5.21%
2.09%
8.69%
8.23%
3.82%
4.29%
3.36%
0.93%
3.01%
1.62%
$751,900
$914,600
$4,379,342
$626,670
$1,392,119
$521,100
$546,772
$488,080
$2,912,016
$13,015,801
$7,631,600
$7,738,213
$13,434,405
$3,830,070
$3,310,450
$1,357,059
$3,853,047
$2,011,700
$13,726,328
$9,089,431
$3,255,890
$4,012,978
$4,463,448
$410,900
$6,287,400
$1,139,644
0.68%
0.82%
3.94%
0.56%
1.25%
0.47%
0.49%
0.44%
2.62%
11.72%
6.87%
6.97%
12.09%
3.45%
2.98%
1.22%
3.47%
1.81%
12.35%
8.18%
2.93%
3.61%
4.02%
0.37%
5.66%
1.03%
863
100.00%
$111,100,963
100.00%
2014 | Quarter 1
4
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 01 – Downtown
2013 - Q1
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
9
$370,750
$41,194
$19,750
266
$21
2014 - Q1
4
$751,900
$187,975
$219,700
73
$114
Change
-55.56%
102.81%
356.32%
1012.41%
-72.56%
442.86%
Price Trends: MLS Zone 02 – Midtown South
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
14
$2,276,050
$162,575
$132,500
130
$69
2014 - Q1
8
$914,600
$114,325
$39,500
152
$46
Change
-42.86%
-59.82%
-29.68%
-70.19%
16.92%
-33.33%
2014 - Q1
29
$4,379,342
$151,011
$136,000
91
$74
Change
-23.68%
4.03%
36.31%
73.25%
8.33%
25.42%
Price Trends: MLS Zone 03 – MidTown East
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
38
$4,209,751
$110,782
$78,500
84
$59
2014 | Quarter 1
5
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 04 – Dauphin Island Pkwy North
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
31
$866,259
$27,943
$23,900
85
$21
2014 - Q1
22
$626,670
$28,485
$27,000
96
$19
Change
-29.03%
-27.66%
1.94%
12.97%
12.94%
-9.52%
2014 - Q1
25
$1,392,119
$55,684
$53,000
131
$40
Change
-16.67%
-31.01%
-17.21%
-24.18%
31.00%
-9.09%
2014 - Q1
20
$521,100
$26,055
$22,500
71
$18
Change
100.00%
191.12%
45.56%
38.46%
-8.97%
50.00%
Price Trends: MLS Zone 07 – MidTown West
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
30
$2,017,812
$67,260
$69,900
100
$44
Price Trends: MLS Zone 09 – MidCentral
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
10
$179,000
$17,900
$16,250
78
$12
2014 | Quarter 1
6
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 10 – Eight Mile/Prichard
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
14
$578,901
$41,350
$18,950
162
$23
2014 - Q1
18
$546,772
$30,376
$18,500
105
$20
Change
28.57%
-5.55%
-26.54%
-2.37%
-35.19%
-13.04%
2013 - Q1
15
$599,503
$39,966
$30,000
99
$27
2014 - Q1
11
$488,080
$44,370
$25,000
108
$28
Change
-26.67%
-18.59%
11.02%
-16.67%
9.09%
3.70%
Price Trends: MLS Zone 11 – Chickasaw
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
Price Trends: MLS Zone 14 – Municipal Park/West Central
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
46
$3,029,480
$65,858
$61,000
97
$39
2014 - Q1
45
$2,912,016
$64,711
$55,600
96
$40
Change
-2.17%
-3.88%
-1.74%
-8.85%
-1.03%
2.56%
2014 | Quarter 1
7
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 15 – Springhill/USA
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
40
$9,663,925
$241,598
$149,250
129
$90
2014 - Q1
46
$13,015,801
$282,952
$226,250
177
$100
Change
15.00%
34.68%
17.12%
51.59%
37.21%
11.11%
2014 - Q1
55
$7,631,600
$138,756
$125,000
147
$67
Change
-9.84%
7.74%
19.50%
27.55%
33.64%
9.84%
2014 - Q1
63
$7,738,213
$122,828
$103,815
87
$61
Change
53.66%
48.55%
-3.32%
3.92%
-29.84%
7.02%
Price Trends: MLS Zone 16 – Cottage Hill North
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
61
$7,083,122
$116,116
$98,000
110
$61
Price Trends: MLS Zone 17 – Cottage Hill South
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
41
$5,209,096
$127,051
$99,900
124
$57
2014 | Quarter 1
8
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 18 – West Mobile
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
80
$11,322,498
$141,531
$123,900
102
$71
2014 - Q1
83
$13,434,405
$161,860
$149,900
100
$75
Change
3.75%
18.65%
14.36%
20.98%
-1.96%
5.63%
2014 - Q1
41
$3,830,070
$93,416
$87,000
131
$55
Change
-10.87%
-12.47%
-1.80%
1.75%
36.46%
1.85%
2014 - Q1
19
$3,310,450
$174,234
$125,000
140
$70
Change
-17.39%
-22.22%
-5.84%
8.70%
-6.67%
-9.09%
Price Trends: MLS Zone 19 – Tillman’s Corner
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
46
$4,375,860
$95,127
$85,500
96
$54
Price Trends: MLS Zone 20 – Western Bay Shores
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
23
$4,255,921
$185,040
$115,000
150
$77
2014 | Quarter 1
9
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 21 – Dauphin Island Pkwy South
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
25
$1,875,498
$75,019
$36,000
160
$39
2014 - Q1
18
$1,357,059
$75,392
$51,179
106
$42
Change
-28.00%
-27.64%
0.50%
42.16%
-33.75%
7.69%
Price Trends: MLS Zone 22 – South Mobile County/Theodore
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
56
$4,734,735
$84,548
$77,500
100
$49
2014 - Q1
45
$3,853,047
$85,623
$73,500
82
$49
Change
-19.64%
-18.62%
1.27%
-5.16%
-18.00%
0.00%
2014 - Q1
18
$2,011,700
$111,761
$125,000
103
$61
Change
20.00%
67.40%
39.50%
66.67%
255.17%
24.49%
Price Trends: MLS Zone 23 – Grand Bay North
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
15
$1,201,760
$80,117
$75,000
29
$49
2014 | Quarter 1
10
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 24 – West Mobile County
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
86
$14,022,896
$163,056
$159,275
96
$79
2014 - Q1
75
$13,726,328
$183,017
$158,000
126
$82
Change
-12.79%
-2.11%
12.24%
-0.80%
31.25%
3.80%
Price Trends: MLS Zone 25 – West Mobile/Semmes
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
75
$10,959,273
$146,123
$147,500
86
$73
2014 - Q1
71
$9,089,431
$128,020
$124,000
124
$68
Change
-5.33%
-17.06%
-12.39%
-15.93%
44.19%
-6.85%
Price Trends: MLS Zone 26 – Semmes/Wilmer/Lott Rd
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
26
$2,429,280
$93,433
$82,000
91
$52
2014 - Q1
33
$3,255,890
$98,663
$105,000
99
$57
Change
26.92%
34.03%
5.60%
28.05%
8.79%
9.62%
2014 | Quarter 1
11
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 27 – Saraland
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
37
$4,348,681
$117,531
$110,000
103
$60
2014 - Q1
37
$4,012,978
$108,458
$113,000
96
$62
Change
0.00%
-7.72%
-7.72%
2.73%
-6.80%
3.33%
Price Trends: MLS Zone 28 – Saraland/Satsuma/Axis/Creola
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
40
$5,161,220
$129,030
$119,900
108
$67
2014 - Q1
29
$4,463,448
$153,912
$148,900
105
$71
Change
-27.50%
-13.52%
19.28%
24.19%
-2.78%
5.97%
Price Trends: MLS Zone 29 – NorthEast Mobile County/Mt. Vernon
2013 - Q1
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
3
$181,750
$60,583
$26,750
184
$32
2014 - Q1
8
$410,900
$51,362
$41,200
185
$36
Change
166.67%
126.08%
-15.22%
54.02%
0.54%
12.50%
2014 | Quarter 1
12
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 30 – Dauphin Island
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
17
$3,597,599
$211,623
$210,000
113
$133
2014 - Q1
26
$6,287,400
$241,823
$227,250
141
$152
Change
52.94%
74.77%
14.27%
8.21%
24.78%
14.29%
Price Trends: MLS Zone 31 – NorthWest Mobile County/Citronelle
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
2013 - Q1
12
$1,026,553
$85,546
$81,250
173
$47
2014 - Q1
14
$1,139,644
$81,403
$67,500
195
$47
Change
16.67%
11.02%
-4.84%
-16.92%
12.72%
0.00%
2014 | Quarter 1
13
Mobile Quarterly Residential Housing Update
Credentials and Contact Information
Data Source:
All data is provided by the Mobile Area Association of REALTORS® Multiple Listing Service.
For further information about the data, contact the MAAR office at (251) 479-8654.
All inquiries regarding this report should be directed to:
Don Epley, Director
Center for Real Estate & Economic Development
Email: depley@southalabama.edu
Phone: (251) 460-6735
This report was prepared by:
Andrea Justiniano, Senior Research Analyst
Center for Real Estate & Economic Development
Mitchell College of Business
University of South Alabama
Disclaimer:
USA takes reasonable measures to ensure the quality of the data and other information produced. However,
warranty, expressed or implied, nor assumes any legal liability or responsibility for the accuracy, correctness, or
USA makes no 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.
2014 | Quarter 1
14