Is Mobile, AL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mobile is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Mobile was a Seller's Market.

Key Takeaway

Mobile is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

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

+$8,701(+3.8%)

Key Takeaway

Homes in Mobile have sold for 3.8% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $111.5K$139K
+24.7%
2 $160K$160K
0.0%
3 $205K$215K
+4.9%
4 $325K$337K
+3.7%
5+ $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
+3.8%
Theodore
+2.8%
Tanner Williams
0.0%

Housing Supply in Mobile, AL

How many homes are available in Mobile, AL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7801,043+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

# BEDSApr 2024May 2024CHANGE
1 1216
+33.3%
2 7699
+30.3%
3 358485
+35.5%
4 258337
+30.6%
5+ 76106
+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 2024May 2024CHANGE
7991+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mobile, you may be able to get a good deal. 51.2% of homes here sold below asking price last month.

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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Mobile are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

Newest Listings in Mobile, AL

Nearby Markets to Mobile, AL

What housing markets are near Mobile, AL?