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.
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
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
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
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.