Mobile County Real Estate
2013
Market Activity Report
ounty Real Estate
Mobile County Real E Mobile County Real Estate Mobile County bile County Real Estate Mobile County Rea Mobile County Real Estate Mobile County Real Estate Mobile County Real Estate Center for Real Estate Studies
Mobile Single-Family Real Estate Center for Real Estate and Economic Development Mobile Area Multi-List Go to: http://cres.southalabama.edu for more data
Month of July, 2013
Mobile County Residential Market Prices: For the month of July, 2013, the average sales price increased from $127,576 in June to $136,313, a 6.85 percent change. The median sales price increased from $114,500 to $114,950 in the same period, showing an increase by 0.39 percent. Sales: The number of sales in July increased by 8.52 percent from June, having a total of 382 sales. Compared to July, 2012, total sales increased by 27.33 percent, or from 300 sales to 382 sales in July, 2013. Volume: Of the 382 total sales, 319 sales were under $200,000, representing 83.51 percent of the entire market. Of the 319 sales that were under $200,000, 28.21 percent of those sales occurred in the $100,000-$149,999 range. Compared to July, 2012, sales in the $150,000-$199,999 range increased by 40.00 percent, or from 40 to 56 sales. In the same time period, sales in the $300,000-$499,999 range increased by 53.85 percent, or from 13 sales to 20 sales in July, 2013. Months-to-Sell Inventory: The average number of months to sell the existing inventory of properties in July decreased by 9.73 percent, or from 8.74 in June to 7.89. Compared to July, 2012, the month’s inventory decreased by 25.07 percent, or from 10.53 to 7.89 in July, 2013. U.S.: The U.S. market in May showed a 13.2 percent increase in sales from April. Average sales price increased from $241,700 to $251,100, a 3.9 percent change. Median sales price increased by 5.9 percent, or from $191,800 to $203,100. The inventory month’ssupply decreased by 3.8 percent. Compared to May, 2012, inventory month’s supply decreased by 23.1 percent, or from 6.5 to 5.0. Overall Analysis: For July, the Mobile housing market showed increases in sales and sales price since May. Compared to the last three years, July, 2013, had the highest number of sales. Both the U.S. and Mobile markets increased in sales with months-to-sell inventory decreasing.
United States Existing Home Prices for All Housing Types
Median Sales Price
Time
Sales
Average Sales Price
Median Sales Price
Inventory Months Supply
May-12
448,000
$229,600
$180,300
6.5
$200,000
Apr-13
454,000
$241,700
$191,800
5.2
$190,000
May-13
514,000
$251,100
$203,100
5.0
$180,000
Vs. Last Month (%)
13.2
3.9
5.9
-3.8
$170,000
Vs. Last Year (%)
14.7
-23.1
$160,000 May-12
9.4
12.6
$210,000
Apr-13
May-13
Data Sources: All data taken from the Mobile Area Association of Realtors, Jeff Newman, Office: 251.479.8654; and the National Association of Realtors, www.realtor.org. Report by: Michelle Pinochet, Senior Research Analyst For additional information: Dr. Don Epley, Director, Center for Real Estate and Economic Development, Mitchell College of Business, University of South Alabama, Office: 251.460.6735, E-mail: depley@southalabama.edu. University of South Alabama 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.
July 2013 Mobile County Single-Family Residential Report Average Sales Price
$140,000 $135,000
$116,000
$130,000
$114,000
$125,000
$112,000
$120,000
$110,000
$115,000
$108,000
$110,000
Jul-10
Month
Jul-11 Avg. Sales $
Jul-12
Jun-13
vs. Last Year (%)
$106,000
Jul-13
vs. Last Month (%)
Jul-10
Jul-11
Jul-12
Month
Med. Sales $
Jul-10
$117,000
Jun-13
vs. Last Year (%)
Jul-10
$138,172
Jul-11
$122,286
-11.50
Jul-11
$110,000
-5.98
Jul-12
$137,239
12.23
Jul-12
$116,000
5.45
Jun-13
$127,576
Jun-13
$114,500
Jul-13
$136,313
Jul-13
$114,950
Annual 11 Annual 12
$126,182
Annual 11 Annual 12
$104,450 $105,000
$121,901
6.85 3.51
Number of Sales
500
Jul-13
vs. Last Month (%)
0.39 0.53
Month's Inventory
20.00
400
15.00
300
10.00
200
5.00
100 0
Median Sales Price
$118,000
Jul-10 Month
Jul-11
Jul-12
Jun-13
# Sales
vs. Last Year (%)
0.00
Jul-13
Jul-10
vs. Last Month (%)
Month
Jul-11
Jul-12
Month's Inventory
Jun-13 vs. Last Year (%)
Jul-10
279
Jul-10
14.97
Jul-11
301
7.89
Jul-11
12.07
-19.37
Jul-12
300
-0.33
Jul-12
10.53
-12.76
Jun-13
352
Jul-13
382
Annual 11
3397
Annual 12
3476
8.52 2.33
Jun-13
8.74
Jul-13
7.89
Annual 11
12.38
Annual 12
10.75
Jul-13 vs. Last Month (%)
-9.73 -13.17
Month
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Jul-10
113
67
47
34
14
4
Jul-11
139
71
41
39
9
2
Jul-12
132
74
40
36
13
5
Jun-13
155
93
43
41
19
1
Jul-13
173
90
56
38
20
5
Ann. 11
1652
790
448
344
124
39
Ann. 12
1664
794
496
364
106
52
200 180 160 140 120 100 80 60 40 20 0
Number
Over $500K
Price Range of Sales
Jul-10
Jul-11
Jul-12
Jun-13
Jul-13
Baldwin Residential Real Estate
Center for Real Estate & Economic Development Baldwin Multi List Go to: http://cres.southalabama.edu for more data
Report for the month of July, 2013
Baldwin County Residential Market
(Total, North, Eastern Shore, Central, South, Gulf Beach) Prices: The average sales price in Baldwin County increased 3.51 percent from $252,767 in June to $261,647 in July. Compared to last year, average sales price increased by 0.50 percent. Median sales price increased 2.65 percent from last month and 8.91 percent from last year. The average sales price rose in North Baldwin, Eastern Shore, South and Gulf Beach by 14.32 percent, 7.69 percent, 2.47 percent, and 4.82 percent, respectively, relative to June. Sales: Total sales in Baldwin County increased 2.74 percent from last month’s sales and 13.15 percent from last year. Sales decreased in South Baldwin by 5.33 percent and Gulf Beach by 7.28 percent compared to June. Compared to last year, sales increased in the following areas: Eastern Shore by 22.14 percent, Central by 75.00 percent, and Gulf Beach by 14.75 percent. Days on Market: Average days on the market between June and July, 2013, fell from 203 to 162 days, or 20.20 percent. Between July, 2012, and July, 2013, average days declined from 166 to 162 days, or 2.41 percent. Compared to June, North Baldwin increased 30.67 percent, Eastern Shore decreased 15.52 percent, Central decreased 8.97 percent, South showed no change, and Gulf Beach fell 31.80 percent. U.S.: U.S. sales increased 13.2 percent from April to May, 2013. Compared to last year, U.S. sales rose 14.7 percent. Average sales price increased 3.9 percent from last month, and 9.4 percent from last year. Median sales price increased 5.9 percent from April, and 12.6 percent relative to last year. The inventory month’s supply fell from last month by 3.8 percent and 23.1 percent from last year. Overall Analysis: For the month of July, the Baldwin residential market showed increases in sales and selling price with decreasing average days on the market. Eastern Shore and Gulf Beach had the most number of sales and Central Baldwin had the lowest average days on the market.
United States Existing Home Prices for All Housing Types Time
Sales
Average Sales Price
Median Sales Price
Inventory Months Supply
May-12
448,000
$229,600
$180,300
6.5
Apr-13
454,000
$241,700
$191,800
5.2
May-13
514,000
$251,100
$203,100
5.0
Vs. Last Month (%)
13.2
3.9
5.9
-3.8
$170,000
Vs. Last Year (%)
14.7
9.4
12.6
-23.1
$160,000 May-12
Median Sales Price $210,000 $200,000 $190,000 $180,000
Apr-13
May-13
Data Sources: All data taken from the Baldwin Multi-List, Martha Taylor, Office: 251.947.3777, and National Association of Realtors: www.realtor.com. Data gathered by: Michelle Pinochet, Senior Research Analyst For additional information: DeWayne Cochran, MLS Coordinator, Office: 251.947.3777 or Dr. Don Epley, Director, Center for Real Estate and Economic Development, Mitchell College of Business, University of South Alabama Office: 251.460.6735 or E-mail: depley@southalabama.edu. University of South Alabama 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.
Baldwin County Residential For the Month of July 2013 Baldwin County Areas Total County Jun-13 % vs prv mo % vs prv year
North Baldwin Jun-13 % vs prev mo % vs prev year
Eastern Shore Jun-13 % vs prev mo % vs prev year
Central Jun-13 % vs prev mo % vs prev year
South Jun-13 % vs prev mo % vs prev year
Gulf Beach Jun-13 % vs prev mo % vs prev year
Average Sale Price
Median Sale Price
Number of Sales
Average Days on Market
$261,647
$189,900
413
162
$252,767 3.51 0.50
$185,000 2.65 8.91
402 2.74 13.15
203 -20.20 -2.41
$116,071
$122,000
14
196
$101,533 14.32 29.49
$117,500 3.83 21.88
9 55.56 0.00
150 30.67 58.06
$273,610
$224,475
160
147
$254,066 7.69 -9.82
$210,000 6.89 6.89
143 11.89 22.14
174 -15.52 -9.26
$118,711
$118,950
28
142
$137,234 -13.50 -11.66
$128,500 -7.43 6.92
24 16.67 75.00
156 -8.97 -46.82
$152,238
$132,000
71
165
$148,575 2.47 6.00
$136,000 -2.94 5.60
75 -5.33 -13.41
165 0.00 -6.78
$346,607
$282,750
140
178
$330,664 4.82 5.45
$252,000 12.20 21.61
151 -7.28 14.75
261 -31.80 14.84
Areas Defined as: North Eastern Shore Central South Gulf Beach
Bay Minette, Stapleton, North Baldwin County Spanish Fort, Daphne, Fairhope Seminole, Loxley, Silverhill, Robertsdale, Summerdale Bon Secour, Gulf Shores N-ICW, Magnolia Springs, Foley, Lillian, Elberta Orange Beach, Gulf Shores S - ICW, Fort Morgan