Mobile home sales increase 5.9% year-on-year in September
Sales: According to the Mobile Area Association of Realtors, September home sales in the region were up 5.9% year-on-year, from 460 to 487 closed deals. Following seasonal trends, sales were down 10.5% compared to August. Sales are up 12.1% year-to-date. Two other resources to consult: Quarterly report and Annual Report.
For all the data on housing in mobile areas, click here.
Inventory: Enrollment in September (649) was down 6.4% from August and 1.8% from a year ago. At the current selling rate, all active inventory in the market would sell in 1.3 months, unchanged from August and down from 1.5 months in September 2020. The breakeven point where buyers and sellers sellers have roughly equal bargaining power is 6 months supply.
Price : The median selling price in September was $ 200,000, an increase of 11.7% from a year ago and a decrease of 1.2% from August. The different sample size (number of residential sales in comparative months) may contribute to statistical volatility, including pricing. ACRE recommends consulting a local real estate professional to discuss prices, as they vary from neighborhood to neighborhood.
Homes sold in September lasted an average of 16 days on the market, a record 28 days shorter than in September 2020.
Forecast: September sales were one unit, or 0.3%, lower than the Alabama Center for Real Estate (ACRE) monthly forecast. ACRE forecast 488 sales for the month, while actual sales were 487 units. ACRE has forecast a total of 4,397 residential sales since the start of the year, while there were 4,589 actual sales through September, a difference of 4.4%.
New construction: The 23 new homes sold represented 4.7% of all residential sales in the region in September. Total sales decreased 32.4% year-on-year. The median selling price in September was $ 277,900, an increase of 6.1% from a year ago and a decrease of 12.2% from August.
Click here to view the full monthly report.
The monthly residential mobile report is produced in conjunction with the Association of real estate agents of the mobile zone to better serve consumers in the region.
Editor’s Note: All information in this article reflects data provided to the Alabama Center for Real Estate from September 1 to September 30. Thus, the performance represented is historical and should not be used as an indicator of future results.