5811 USA Drive South | Mobile, AL 36688
http://creed.southalabama.edu
Telephone: (251) 460-6735
Mobile County, AL
Quarterly Residential Housing Update
2014 | Quarter 4
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 4
1
Mobile Quarterly Residential Housing Update
Mobile County Sales Data
Total unit sales for the fourth quarter of 2014 in Mobile County were 904. Compared to the fourth quarter of
2013, total unit sales increased by 6.98% in the fourth quarter of 2014. Most residential properties sold in the $0$99,999 range, however, decreasing 2.96% compared to the fourth quarter of 2013. The most significant increase
in price range occurred in the $100,000-$199,999 range, where there was a 25.26% increase, from the fourth
quarter of 2013.
Total Unit Sales by Price Range
Price Range
2013 - Q4
2014 - Q4
$0-$99,999
$100,000-$199,999
$200,000-$299,999
$300,000-$499,999
$500,000-$999,999
Over $1 million
406
285
97
46
10
1
394
357
116
29
7
1
-2.96%
25.26%
19.59%
-36.96%
-30.00%
0.00%
Total
845
904
6.98%
Unit Sales by Sold Terms | 2014 - Q4
Total Unit Sales
920
900
880
860
840
820
800
780
760
740
720
Change
904
0%
4%
Cash
3% 1%
Conventional
6%
33%
845
+ 6.98%
816
FHA
23%
Lease Pur
784
Other
30%
USDA
V/L
2011 - Q4
2012 - Q4
2013 - Q4
VA
2014 - Q4
Average days on the market (DOM) for the fourth quarter of
2014 were 103 days. Compared to the fourth quarter of 2013,
average DOM decreased by 0.96%.
Avg. DOM
110
105
104
105
103
100
96
95
- 0.96%
90
2011 - Q4
2012 - Q4
2013 - Q4%% 2014 - Q4
2014 | Quarter 4
2
Mobile Quarterly Residential Housing Update
Mobile County Sales Data (continued)
Average sales price in Mobile County decreased to $129,513 in the fourth quarter of 2014, a 0.42% change from
the fourth quarter of 2013. Median sales price was 6.19% higher in the same period. Average sales price has
decreased since the fourth quarter in 2012, while median sales price has increased since the 2013 fourth quarter.
Quarterly Average & Median Sales Price by Year
$140,000
- 0.42%
$130,000
$120,000
$110,000
$100,000
+ 6.19%
$90,000
$80,000
Average Sale Price
Median Sale Price
2011 - Q4
$114,150
$93,000
2012 - Q4
$130,612
$110,000
2013 - Q4
$130,058
$105,000
2014 - Q4
$129,513
$111,500
Total Sold Dollar Volume
$120,000,000
$117,080,437
$115,000,000
$109,899,677
$110,000,000
+ 6.53%
$102,400,219
$105,000,000
%
$100,000,000
$95,000,000
$93,146,426
$90,000,000
$85,000,000
$80,000,000
2011 - Q4
2012 - Q4
2013 - Q4
2014 - Q4
Avg. Price per Square Foot
$70
$63
$65
$60
$66
$64
$59
+ 3.13%
$55
$50
2011 - Q4
2012 - Q4
2013 - Q4
2014 - Q4
2014 | Quarter 4
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
10
5
51
19
24
8
15
14
45
40
61
65
89
34
26
25
47
22
69
77
45
41
32
10
18
12
1.11%
0.55%
5.64%
2.10%
2.65%
0.88%
1.66%
1.55%
4.98%
4.42%
6.75%
7.19%
9.85%
3.76%
2.88%
2.77%
5.20%
2.43%
7.63%
8.52%
4.98%
4.54%
3.54%
1.11%
1.99%
1.33%
$415,471
$338,400
$7,495,575
$394,478
$1,973,600
$159,951
$418,067
$597,800
$2,963,199
$9,099,200
$8,161,728
$8,935,618
$13,568,868
$3,749,904
$3,808,650
$1,329,019
$4,337,716
$3,091,600
$12,687,044
$12,253,771
$4,826,553
$5,334,267
$4,750,750
$1,137,502
$3,720,950
$1,530,756
0.35%
0.29%
6.40%
0.34%
1.69%
0.14%
0.36%
0.51%
2.53%
7.77%
6.97%
7.63%
11.59%
3.20%
3.25%
1.14%
3.70%
2.64%
10.84%
10.47%
4.12%
4.56%
4.06%
0.97%
3.18%
1.31%
904
100.00%
$117,080,437
100.00%
2014 | Quarter 4
4
Mobile Quarterly Residential Housing Update
Price Trends: MLS Zone 01 – Downtown
2013 - Q4
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
6
$453,977
$75,662
$20,888
73
$39
2014 - Q4
10
$415,471
$41,547
$14,835
62
$24
Change
66.67%
-8.48%
-45.09%
-28.98%
-15.07%
-38.46%
2014 - Q4
5
$338,400
$67,680
$37,500
82
$53
Change
-54.55%
-76.64%
-48.60%
-57.63%
-12.77%
-17.19%
2014 - Q4
51
$7,495,575
$146,972
$123,000
101
$72
Change
112.50%
140.54%
13.20%
2.76%
18.82%
12.50%
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 - Q4
11
$1,448,400
$131,672
$88,500
94
$64
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 - Q4
24
$3,116,150
$129,839
$119,700
85
$64
2014 | Quarter 4
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 - Q4
26
$738,104
$28,388
$20,500
89
$20
2014 - Q4
19
$394,478
$20,762
$16,000
29
$16
Change
-26.92%
-46.56%
-26.86%
-21.95%
-67.42%
-20.00%
2014 - Q4
24
$1,973,600
$82,233
$63,950
147
$51
Change
-4.00%
4.92%
9.29%
6.58%
-9.82%
13.33%
2014 - Q4
Change
0.00%
-37.69%
-37.69%
-46.42%
11.34%
-21.74%
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 - Q4
25
$1,881,088
$75,243
$60,000
163
$45
Price Trends: MLS Zone 09 – MidCentral
2013 - Q4
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
8
$256,697
$32,087
$28,750
97
$23
8
$159,951
$19,993
$15,404
108
$18
2014 | Quarter 4
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 - Q4
12
$479,880
$39,990
$28,830
70
$23
2014 - Q4
15
$418,067
$27,871
$19,000
81
$20
Change
25.00%
-12.88%
-30.31%
-34.10%
15.71%
-13.04%
2013 - Q4
15
$577,698
$38,513
$25,500
109
$22
2014 - Q4
14
$597,800
$42,700
$26,250
98
$31
Change
-6.67%
3.48%
10.87%
2.94%
-10.09%
40.91%
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 - Q4
44
$2,630,414
$59,782
$55,000
115
$37
2014 - Q4
45
$2,963,199
$65,848
$69,500
92
$41
Change
2.27%
12.65%
10.15%
26.36%
-20.00%
10.81%
2014 | Quarter 4
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 - Q4
52
$14,226,186
$273,580
$251,800
91
$103
2014 - Q4
40
$9,099,200
$227,480
$153,450
99
$90
Change
-23.08%
-36.04%
-16.85%
-39.06%
8.79%
-12.62%
2014 - Q4
61
$8,161,728
$113,798
$125,000
139
$66
Change
0.00%
12.76%
-4.09%
13.74%
51.09%
3.13%
2014 - Q4
65
$8,935,618
$137,471
$109,000
76
$61
Change
20.37%
10.77%
-7.97%
-13.66%
-22.45%
-7.58%
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 - Q4
61
$7,238,022
$118,656
$109,900
92
$64
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 - Q4
54
$8,066,750
$149,384
$126,250
98
$66
2014 | Quarter 4
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 - Q4
86
$13,942,561
$162,122
$139,950
99
$74
2014 - Q4
89
$13,568,868
$152,459
$136,000
95
$78
Change
3.49%
-2.68%
-5.96%
-2.82%
-4.04%
5.41%
2014 - Q4
34
$3,749,904
$110,291
$93,600
111
$63
Change
-5.56%
6.29%
12.55%
6.67%
26.14%
16.67%
2014 - Q4
26
$3,808,650
$146,486
$107,750
98
$65
Change
18.18%
15.37%
-2.38%
29.62%
-2.00%
1.56%
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 - Q4
36
$3,527,917
$97,997
$87,750
88
$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 - Q4
22
$3,301,216
$150,055
$83,126
100
$64
2014 | Quarter 4
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 - Q4
18
$1,970,800
$109,488
$38,000
110
$47
2014 - Q4
25
$1,329,019
$53,160
$39,000
158
$37
Change
38.89%
-32.56%
-51.45%
2.63%
43.64%
-21.28%
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 - Q4
73
$7,182,343
$98,388
$85,000
101
$53
2014 - Q4
47
$4,337,716
$92,291
$77,000
94
$54
Change
-35.62%
-39.61%
-6.20%
-9.41%
-6.93%
1.89%
2014 - Q4
22
$3,091,600
$140,527
$146,950
59
$71
Change
83.33%
187.67%
56.91%
41.98%
3.51%
31.48%
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 - Q4
12
$1,074,717
$89,559
$103,500
57
$54
2014 | Quarter 4
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 - Q4
61
$10,559,941
$173,113
$160,000
109
$79
2014 - Q4
69
$12,687,044
$183,870
$174,000
89
$83
Change
13.11%
20.14%
6.21%
8.75%
-18.35%
5.06%
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 - Q4
55
$7,082,983
$128,781
$128,000
126
$68
2014 - Q4
77
$12,253,771
$159,139
$131,900
125
$76
Change
40.00%
73.00%
23.57%
3.05%
-0.79%
11.76%
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 - Q4
41
$4,986,059
$121,611
$115,000
97
$63
2014 - Q4
45
$4,826,553
$107,256
$94,900
89
$58
Change
9.76%
-3.20%
-11.80%
-17.48%
-8.25%
-7.94%
2014 | Quarter 4
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 - Q4
26
$3,277,048
$126,040
$109,490
107
$65
2014 - Q4
41
$5,334,267
$130,104
$110,000
110
$66
Change
57.69%
62.78%
3.22%
0.47%
2.80%
1.54%
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 - Q4
33
$5,075,749
$153,810
$145,600
103
$72
2014 - Q4
32
$4,750,750
$148,460
$145,000
67
$78
Change
-3.03%
-6.40%
-3.48%
-0.41%
-34.95%
8.33%
Price Trends: MLS Zone 29 – NorthEast Mobile County/Mt. Vernon
2013 - Q4
Unit Sales
Total Sold Dollar Volume
Average Sales Price
Median Sales Price
Average DOM
Average Price / Sq. Ft.
6
$414,500
$69,083
$66,500
82
$37
2014 - Q4
10
$1,137,502
$113,750
$84,250
161
$58
Change
66.67%
174.43%
64.66%
26.69%
96.34%
56.76%
2014 | Quarter 4
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 - Q4
21
$4,790,847
$228,135
$215,000
209
$146
2014 - Q4
18
$3,720,950
$206,719
$210,700
167
$160
Change
-14.29%
-22.33%
-9.39%
-2.00%
-20.10%
9.59%
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 - Q4
17
$1,599,630
$94,095
$94,900
97
$47
2014 - Q4
12
$1,530,756
$127,563
$129,500
181
$69
Change
-29.41%
-4.31%
35.57%
36.46%
86.60%
46.81%
2014 | Quarter 4
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:
Paul Leon, 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 4
14