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 February 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

$235,300

$132/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$5,325(+2.3%)

Key Takeaway

Homes in Mobile have sold for 2.3% more than they did a year ago.

Summary: The median home sold price in Mobile was $235,300 in February 2024, up 2.3% from last year, and the median price per square foot was $132.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $199K$111.5K
-44.0%
2 $160.7K$152.4K
-5.2%
3 $204.7K$210K
+2.6%
4 $331.5K$329.9K
-0.5%
5+ $486.5K$445K
-8.5%

Summary: Mobile housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 44%, 2 bedroom homes decreased by 5.2%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 8.5%.

Median Sold Price Compared To Nearby Cities

Mobile
+2.3%
Tanner Williams
0.0%

Housing Supply in Mobile, AL

How many homes are available in Mobile, AL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
653909+39.2%

Summary: The Mobile real estate market had 909 homes for sale in February 2024, a 39.2% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 1112
+9.1%
2 5588
+60.0%
3 321446
+38.9%
4 210292
+39.0%
5+ 5671
+26.8%

Summary: The Mobile housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 60%, 3 bedroom homes increased by 38.9%, 4 bedroom homes increased by 39%, and 5+ bedroom homes increased by 26.8%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3846+21.1%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

9 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. 65.8% of homes here sold below asking price last month.

Summary: A total of 46 homes were sold or pending in Mobile in February 2024, up by 21.1% month-over-month. Of the 38 sold homes, 66% were sold under asking, 11% were sold at asking, and 24% were sold over asking.

Days on Market for Mobile, AL

We’re sorry, we don't have information for this market at the moment

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

Report Updated 27 Days Ago

Newest Listings in Mobile, AL

Nearby Markets to Mobile, AL

What housing markets are near Mobile, AL?