Mobile 2Q home sales up 8 percent over same period in 2015

The median sales price for homes in Mobile increased 5.5 percent from the second quarter of 2015. (iStock)
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The Mobile area had another productive quarter for home sales from April through June.

Residential sales during the second quarter in Mobile rose 8.3 percent over the same period in 2015.
According to data from the Gulf Coast Multiple Listing Service, 1,296 homes were sold in Mobile during the second quarter, representing an 8.3 percent rise from the second quarter in 2015 (1,197).
From 2011 through 2015, Mobile averaged 1,033 homes sold during the second quarter, 25 percent lower than 2016 sales.
Home sales during the second quarter peaked during 2006 at 2,004, but those numbers dropped off during the recession, hitting a trough at 875 homes sold during 2010.
Since 2012, Mobile has been in a state of recovery, for the most part gaining in home sales each of the past five second quarters.
Home prices were also on the rise during the second quarter, hitting $135,383, compared to $128,333 during the second quarter of 2015. This is just 4 percent off the 2008 peak of $141,583.
Supply is also down favorably in Mobile, with 2,153 units sitting on the market in any given month during the second quarter. This is down 17 percent over last year.
Mobile was one of Alabama’s most balanced markets during the second quarter, with 4.9 months of housing supply on the market. This is down 24 percent from 2015.
The Mobile Area Residential Monthly Report is developed in conjunction with the Mobile Area Association of Realtors to better serve Gulf Coast consumers.