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 both Mobile County and Baldwin County from the April’s reporting period. Looking at the trends the number of units sold has decreased 7% in Mobile County in the past year. The number of sales have decreased 21% in Baldwin County in the past year. Here is this month’s data and charts:
| 200805 Mobile Baldwin MLS Trends : Units Sold |
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Median Sales Price
The median sales price in Mobile rose $1000 in the past month. In Baldwin County, there was a $5000 decrease in Median Sales Price. Overall Mobile has shown a 4% drop in median sales price from May 2007 to May 2008. In Baldwin County, the drop in prices is more dramatic. The $180000 figure is 10% lower than it was last year at this time.
| 200805 Mobile Baldwin MLS Trends : Median Sales Price ($,000) |
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Units Available
The Units Available data from the Mobile MLS where Units Available include Condominiums and Mult-Family Units. In Baldwin County Units Available is only Single Family Homes. With that being said, it is obvious there is a tremendous amount of inventory in Baldwin County. The inventory levels increase very slightly in the past month in both counties. In fact the increase was less than 1%. In looking at annual trends the inventory in Mobile is about 26% higher than it was in May 2007. In Baldwin County, inventory levels have increased around 3%.
| 200805 Mobile Baldwin MLS Trends : Units Available |
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Days on Market
The Days on Market field tells you on average how long it takes to sell a unit. The data only includes units sold, so unsold units are not part of the calculations. In Mobile we have seen the number of days increase significantly. This is to be expected as the inventory levels rise, the marketing days should also increase since there is more homes for buyers to choose from. In Mobile County, it is taking around 90 days to sell a property. This is up 33% from May 2007. In Baldwin County, the Days on Market is roughly 5 months, and that number is about 60% higher than it was at this time last year.
| 200805 Mobile Baldwin MLS Trends : DOM |
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Absortption Rate
The Absorption Rate data tells us how many months of inventory there is available. It is calculated by dividing the number of unit available by the number of units sold. In months where the sales numbers are up, the absortion rate will go down. This is what we saw in May of 2008. Units Available data from the Mobile shows a decrease of 15%. In Baldwin County, the drop was even more dramatic as there was a 20% drop. Both counties would be considered buyers markets because the number of months inventory is greater than 6 months.
| 200805 Mobile Baldwin MLS Trends : Absorbtion Rate |
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Please let us know if you have any questions regarding these statistics. You can click on the following link to e-mail us Click here to e-mail
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
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