We have tabulated our monthly statistics derived from the Mobile Area Association of Realtors and Baldwin County Association of Realtors. This is a monthly analysis that shows a 2 year trend for Homes for Sale, Homes Sold, Median Sales Price, Absorption Rate, Days on Market for Sold Homes, and Number of New Foreclosure Listings. In this blog entry, we will analyze the Median Sales Pricein Mobile County and in Baldwin County. We will show a spreadsheet that contains the Median Sales Price for the homes sold in each specific month for past two years. Due to space restrictions, the Median Sales Price is shown in hundreds of thousands of dollars. Under the spreadsheet, there will be a trending chart reflective of the data shown on the spreadsheet.
The biggest take away from looking at the spreadsheet and the chart is that Median Sales Price is higher in Baldwin County than in Mobile County. That has been true for as long as we have been analyzing the sales data in both counties. The second point to make is that prices have fallen drastically in Baldwin County. So what was at one time very large price descrepancies between the two counties is shrinking.
For the homes sold in Mobile County, the Median Sales Price in April 2010 was $130,000. This amount represented a 9% increase over the Median Sales Price of $119,200 in March 2010. We theorize that much of this increase could be due to the current home owners planning to get the $6,500 tax incentive as part of the government stimilus buying more expensive homes. The Median Sales Price has been suppressed for last 4 month in Mobile County. For annual comparison, the Median Sales Price of $130,000 in April 2010 repesented a 4% increase as compared to April of 2009 when the Median Sales Price was $124,900.
For homes sold in Baldwin County, the Median Sales Price in April 2010 for homes sold was $151,000. In Baldwin County that represents a 5% decrease from the Median Sales Price in March 2010 when the figure was $159,588. In April of 2009 the Median Sales Price was $150,000 so the $151,000 figure in April 2010 represents a 1% increase. Please feel free to contact me if you have any questions.
- Steve Shaw
- Gulf Region Properties Team
- Keller Williams Realty
- My Website: http://www.GulfRegionProperties.com
- Home Search Tool: http://www.HomeSearchGadget.com/
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