The statistics have been tabulated for all residential sales in Mobile and Baldwin County.  For Mobile County, data was derived from the Gulf Coast MLS system for all single family and condominiums sold in Mobile County.  For Baldwin County, a residential unit is defined as single family and data was derived from Baldwin County Association of Realtors MLS system.

It appears that the market has slowed dramatically in Mobile and that there are signs of market improvement in Baldwin County.  

Units Available

The number of available units in Mobile continued to rise in July.  This trend has been the same for about 17 months.  When compared to last year, July's number of 3,392 available residential units for sale represents a 19% increase.  The inventory levels in Baldwin County continue to drop as we are seeing a market correction.  In Baldwin County, the number of available homes (3,283) has decreased 11% from July 2007.  Here is the charts. 

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Units Sold

The activity in Mobile County for the summer is way down compared to last year.  There was 395 residential units sold in July of 2008 which represents a 24% decrease.  In Baldwin County, the decrease is not as dramatic.   There were 193 single family homes sold in July 2008, which is 10% lower than it was last July.

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Median Sales Price

The median sales price was down in both countes. In Mobile, the median sales price of a home was $139,400 for all homes sold in July of 2008. This represents a 4% decrease from th same period last year. In Baldwin County, the median sales price was $192,000 which is a 1% decrease from last year.

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Days on Market

The number of days to sell a home has increased over the past year in both counties. This is to be expected when the quantity of of sales decreases. There are more homes available on the market for buyers to review. The number of days of marked for sold homes in Mobile County in July 2008 was 82. That number is almost double in Baldwin County.

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Absorption Rate

The absorption rate has remained relatively static in Baldwin County for past 3 month, though having 17 months worth of inventory is very high. In Mobile, the absorption rate has been increasing for past year. Anything over 6 months, denotes a buyer's market which is what we have in both counties.

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Please visit our website for a summary of monthly MLS statistics for Mobile and Baldwin County and other real estate information about our area. Our website address is www.GulfRegionProperties.com