Is Mobile, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$236,050
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mobile have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in Mobile was $236,050 in March 2024, up 2.6% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $129K | -4.4% |
| 2 Bedrooms | $159.9K | $155K | -3.1% |
| 3 Bedrooms | $204.7K | $215K | +5.0% |
| 4 Bedrooms | $325K | $335K | +3.1% |
| 5+ Bedrooms | $467.5K | $450K | -3.7% |
Summary: Mobile housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes decreased by 3.7%.
Median Sold Price Compared To Nearby Cities
| Theodore | $233.5K | $242.5K | +3.9% |
| Mobile | $229.9K | $236K | +2.6% |
| Tanner Williams | $255K | $252.5K | -1.0% |
Housing Supply in Mobile, AL
How many homes are available in Mobile, AL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 677 | 930 | +37.4% |
Summary: The Mobile real estate market had 930 homes for sale in March 2024, a 37.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 14 | +40.0% |
| 2 Bedrooms | 71 | 102 | +43.7% |
| 3 Bedrooms | 322 | 446 | +38.5% |
| 4 Bedrooms | 207 | 286 | +38.2% |
| 5+ Bedrooms | 67 | 82 | +22.4% |
Summary: The Mobile housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 43.7%, 3 bedroom homes increased by 38.5%, 4 bedroom homes increased by 38.2%, and 5+ bedroom homes increased by 22.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 47 | 64 | +36.2% |
Asking Price vs. Sold Price
36 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mobile, you may be able to get a good deal. 65.5% of homes here sold below asking price last month.
Summary: A total of 64 homes were sold or pending in Mobile in March 2024, up by 36.2% month-over-month. Of the 55 sold homes, 65% were sold under asking, 15% were sold at asking, and 20% 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
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mobile are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 64 homes were sold in Mobile; 3% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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