Mobile County and Baldwin County Real Estate Statistics and Trends - October 2008

By
Real Estate Agent with Keller Williams Realty ARE# 84291-0

Mobile and Baldwin County Real Estate StatisticsThe statistics have been tabulated for residential sales that occurred in Mobile County and Baldwin County during the month of October according the Gulf Coast MLS data (Mobile Association of Realtors) and the MLS data from the Baldwin County Association of Realtors.   The results show that we felt the current uncertainty of our economy.  There was a decrease in the number of sales in both counties.  The number of buyers has decreased in the past month.  Fall is normally a time when we see a slow down in the number of sales, but the current economy also is leading to a smaller number of sales. 

 Mobile County Real Estate Market

 The inventory level is the highest that it has been in years.  One reason for the increased number of homes is the number of sales dropped in October to the lowest total in 2 years of tracking.  There are currently 3406 homes for sale in Mobile County.  That represents a 54% increase in the number of available homes in the past 2 years.  The median sales price of a home dropped drastically.  In looking at the actual homes sold, the number of foreclosures (46) was not high, but the percentage of foreclosed home sales vs. total homes sales (15%) was rather high.  The lower costs associated with the foreclosure sales was a major reason the median price of a home dropped so much.

Baldwin County Real Estate Market

The only good news is that the median price of home went up last month.  The number of sales (135) was very low.  It appears that there were a large number of more expensive homes sold in October.  The inventory levels are decreasing but not to the point where it should be. There remains almost 2 years of inventory on the market.

Please see the spreadsheets and charts below and let us know if you have any questions.  The summary of the statistics can be found on our MLS Stats Page.

 

Google Docs - 200810 Mobile Baldwin MLS Trends

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Jan 2007Feb 2007Mar 2007Apr 2007May 2007Jun 2007Jul 2007Aug 2007Sep 2007Oct 2007Nov 2007Dec 2007Jan 2008Feb 2008Mar 2008Apr 2008May 2008June 2008Jul 2008Aug 2008Sep 2008Oct 2008

.

Mobile2200229423572514258226982855295930073030299128943036306731243244326833773392337433473406

.

Baldwin3028314732223151325732673815331933923299323831373146312532463343334832833382327331943180
Google Docs - 200810 Mobile Baldwin MLS Trends

.

Jan 2007Feb 2007Mar 2007Apr 2007May 2007Jun 2007Jul 2007Aug 2007Sep 2007Oct 2007Nov 2007Dec 2007Jan 2008Feb 2008Mar 2008Apr 2008May 2008June 2008Jul 2008Aug 2008Sep 2008Oct 2008

.

Mobile308364465460499511519459360392362335280327346387463396395342346300

.

Baldwin152184225248237251215220166156127151101149155149188187193190169135
Google Docs - 200810 Mobile Baldwin MLS Trends

.

Dec 2006Jan 2007Feb 2007Mar 2007Apr 2007May 2007Jun 2007Jul 2007Aug 2007Sep 2007Oct 2007Nov 2007Dec 2007Jan 2008Feb 2008Mar 2008Apr 2008May 2008Jun 2008Jul 2008Aug 2008Sep 2008Oct 2008

.

Mobile135131131130136144146145133127129149140120135133137138144139137139123

.

Baldwin194188189197200200200194197201190186182177183186185180184192190170180
Google Docs - 200810 Mobile Baldwin MLS Trends

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Dec 2006Jan 2007Feb 2007Mar 2007Apr 2007May 2007Jun 2007Jul 2007Aug 2007Sep 2007Oct 2007Nov 2007Dec 2007Jan 2008Feb 2008Mar 2008Apr 2008
May 2008Jun 2008Jul 2008Aug 2008Sep 2008Oct 2008

.

Mobile6663666870616370615967707689928482909383818877

.

Baldwin13012011610211299109127122129113123131170176169178154145162179172185
Google Docs - 200810 Mobile Baldwin MLS Trends

.

Dec 2006Jan 2007Feb 2007Mar 2007Apr 2007May 2007Jun 2007Jul 2007Aug 2007Sep 2007Oct 2007Nov 2007Dec 2007Jan 2008Feb 2008Mar 2008Apr 2008
May 2008Jun 2008Jul 2008Aug 2008Sep 2008Oct 2008

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Mobile5.757.146.305.075.475.175.285.506.458.357.738.268.6310.849.379.028.387.058.538.599.869.6711.35

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Baldwin14.7616.0913.8919.9217.1014.3212.7113.7413.0217.7415.0920.4321.4725.5020.7720.9422.4617.8117.5617.5217.2318.8920.92
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Location:
Alabama
Tags:
mobile real estate
baldwin county real estate
real estate statistics
absorption rate
home price appreciation

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Additional Information

Everything about Mobile and Baldwin County, Alabama, with a focus on the Mobile area Real Estate Market, Home Sales, Homes for Sale in Mobile, as well as views and commentary on Mobile, Alabama.








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