Is Mobile, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Mobile was a Seller's Market.
Housing Prices in Mobile, AL
How much do homes in Mobile, AL cost?
Median Sold Price
$239,826
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Mobile was $239,826 in May 2024, up 3.8% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $111.5K | $139K | +24.7% |
2 Bedrooms | $160K | $160K | 0.0% |
3 Bedrooms | $205K | $215K | +4.9% |
4 Bedrooms | $325K | $337K | +3.7% |
5+ Bedrooms | $486.5K | $490K | +0.7% |
Summary: Mobile housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.7%, 2 bedroom homes did not change, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 0.7%.
Median Sold Price Compared To Nearby Cities
Mobile | $231.1K | $239.8K | +3.8% |
Theodore | $233.5K | $240K | +2.8% |
Tanner Williams | $255K | $255K | 0.0% |
Housing Supply in Mobile, AL
How many homes are available in Mobile, AL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
780 | 1,043 | +33.7% |
Summary: The Mobile real estate market had 1,043 homes for sale in May 2024, a 33.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 16 | +33.3% |
2 Bedrooms | 76 | 99 | +30.3% |
3 Bedrooms | 358 | 485 | +35.5% |
4 Bedrooms | 258 | 337 | +30.6% |
5+ Bedrooms | 76 | 106 | +39.5% |
Summary: The Mobile housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 30.3%, 3 bedroom homes increased by 35.5%, 4 bedroom homes increased by 30.6%, and 5+ bedroom homes increased by 39.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
79 | 91 | +15.2% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Summary: A total of 91 homes were sold or pending in Mobile in May 2024, up by 15.2% month-over-month. Of the 86 sold homes, 51% were sold under asking, 26% were sold at asking, and 23% were sold over asking.
Days on Market for Mobile, AL
How long does it take to sell a home in Mobile, AL?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 91 homes were sold in Mobile; 1% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.