The Mobile County and Baldwin County MLS Statistics and Trends have been calculated based on closed transactions in the month of April 2008. The following charts show units sold, the median sales prices of homes sold, the number of units available for purchase at the beginning of the month, the days on market for homes sold, and absorption rate which is the number of months of inventory. The Mobile real estate market is much more active that its corresponding market in Baldwin County.

The trends shown on the following spreadsheets and charts are for sales that have occurred in the entire county reported. The numbers in certain neighborhoods or portion of a county could be much better than what is shown on these reports.

Units Sold.
There was an increase in the number of sales in Mobile County from the previous month. In Baldwin County the number of sales decreased by 6 from the previous month. Looking at trends the number of units sold has decreased 16% in Mobile County in the past year. The number of sales decreased 40% in Baldwin County in the past year. Here is this month’s data and charts:

. Jul 2006 Aug 2006 Sep 2006 Oct 2006 Nov 2006 Dec 2006 Jan 2007 Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007 Jan 2008 Feb 2008 Mar 2008 Apr 2008 . Mobile 468 497 379 425 369 371 308 364 465 460 499 511 519 459 360 392 362 335 280 327 346 387 . Baldwin 197 245 196 198 178 199 152 184 225 248 237 251 215 220 166 156 127 151 101 149 155 149

Median Sales Price
The Median Sales price in Mobile has increased 1% in the past year. The Median Sales Price in Baldwin County has decreased 8% in the same time period. Here is this month’s data and charts:

200804 Mobile Baldwin MLS Trends: Median Sales Price ($,000)

. Jul 2006 Aug 2006 Sep 2006 Oct 2006 Nov 2006 Dec 2006 Jan 2007 Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007 Jan 2008 Feb 2008 Mar 2008 Apr 2008 . Mobile 138 140 134 142 135 135 131 131 130 136 144 146 145 133 127 129 149 140 120 135 133 137 . Baldwin 207 185 206 198 190 194 188 189 197 200 200 200 194 197 201 190 186 182 177 183 186 185

Available Units.
The Inventory levels are a major influence on prices and marketing time it takes to sell a home. As inventory increases, prices drop. In Mobile and Baldwin County, we have seen an increase in inventory for the past 2 years. In Mobile the amount of homes has increased 29% in the past year. A portion of this increase is due to the lower than normal inventory levels a year ago, but there is no doubt that the number of homes for sale has increased in Mobile. There has not been a drop in prices because there has been a relative demand for homes. In Baldwin County, there is a tremendous amount of inventory available. There has been a 6% increase in the last year in the amount of inventory. Prices have been dropping (and as you will see in the following charts – Days on Market has increased). Here is this month’s data and charts:

200804 Mobile Baldwin MLS Trends: Units Available

. Jul 2006 Aug 2006 Sep 2006 Oct 2006 Nov 2006 Dec 2006 Jan 2007 Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007 Jan 2008 Feb 2008 Mar 2008 Apr 2008 . Mobile 2005 2141 2220 2195 2149 2134 2200 2294 2357 2514 2582 2698 2855 2959 3007 3030 2991 2894 3036 3067 3124 3244 . Baldwin 2998 3030 3001 2922 2864 2764 3028 3147 3222 3151 3257 3267 3815 3319 3392 3299 3238 3137 3146 3125 3246 3343

Days on Market.
This data element shows the average number of days it takes to sell a property. In Mobile, it is taking about 17% longer to sell a home. In Baldwin County, the number is staggering. The 178 days (roughly 6 months) is an increase of about 59% in the past year. Here is this month’s data and charts:

200804 Mobile Baldwin MLS Trends: DOM

. Jul 2006 Aug 2006 Sep 2006 Oct 2006 Nov 2006 Dec 2006 Jan 2007 Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007 Jan 2008 Feb 2008 Mar 2008 Apr 2008 . Mobile 47 53 56 56 50 66 63 66 68 70 61 63 70 61 59 67 70 76 89 92 84 82 . Baldwin 85 94 101 109 118 130 120 116 102 112 99 109 127 122 129 113 123 131 170 176 169 178

Absorption Rate.
This data element shows the number of months of inventory is available. The rate is calculated by dividing the number of available homes by the number of homes sold. Traditionally the absorption rate is a measuring stick for determining if the market is a buyer or sellers market. If the absorption rate is greater than 6 months it is considered a buyers market. That is the case for both Mobile and Baldwin County. The absorption rate has increased 53% in the past year in Mobile. The absorption rate has increased 31% in Baldwin County. Here is this month’s data and charts:

200804 Mobile Baldwin MLS Trends: Absorbtion Rate

. Jul 2006 Aug 2006 Sep 2006 Oct 2006 Nov 2006 Dec 2006 Jan 2007 Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007 Jan 2008 Feb 2008 Mar 2008 Apr 2008 . Mobile 4.28 4.31 5.86 5.16 5.82 5.75 7.14 6.30 5.07 5.47 5.17 5.28 5.50 6.45 8.35 7.73 8.26 8.63 10.84 9.37 9.02 8.38 . Baldwin 10.08 12.55 15.22 12.37 15.31 14.76 16.09 13.89 19.92 17.10 14.32 12.71 13.74 13.02 17.74 15.09 20.43 21.47 25.50 20.77 20.94 22.46

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There is a snapshot of this month’s MLS Statistics available on our website. Please click on following link This Month’s MLS Summary Statistics