Click here to view or print the entire monthly report compliments of the ACRE Corporate Cabinet.

Sales: According to the Gulf Coast Multiple Listing Service, Mobile-area residential sales totaled 330 units during November, an increase of 15 percent from the same month last year (43 units). Year-to-date home sales through November rose 14 percent over last year. Two more resources to review: Quarterly Report and Annual Report.

For all of Mobile’s area housing data, click here. 

Mobile home sales through November are up 14 percent over the same period last year.

Forecast: November sales were 15 units, or 5 percent, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s year-to-date sales forecast through November projected 4,048 closed transactions, while the actual sales were 4,173 units, a favorable difference of 3 percent.

Supply: The Mobile-area housing inventory in November was 1,961 units, a decrease of 14 percent from November 2015. Inventory has now declined 43 percent from the November peak (3,429 units) reached in 2009. There were 5.9 months of housing supply last month (6 months represents a balanced market for this time of year) vs. 8 months of supply in November 2015, a favorable decline of 26 percent.

Demand: November sales increased 0.3 percent from October. This direction contrasts with historical data, which indicate sales, on average (2011-15), decreased from October by 10 percent.

Pricing: The Mobile-area median sales price in November was $130,000, up 5 percent from last November. The November median sales price decreased 4 percent when compared to October. This month-over-month direction contrasts with historical data (2011-15) indicating, on average, the November median sales prices increase from October by 9.4 percent. Pricing can fluctuate from month to month as the sample size of data is subject to seasonal buying patterns. ACRE highly recommends consulting with a local real estate professional to discuss prices, which can vary from neighborhood to neighborhood.

Click here to generate more graphs from the Mobile November Housing Report, including Total Sales, Average Sales Price, Days on the Market, Total Inventory and Months of Supply. 

The Mobile Area Residential Monthly Report is developed in conjunction with the Mobile Area Association of Realtors to better serve Gulf Coast consumers.