Mobile Area 2023 End of Year Residential Market Report

MOBILE COUNTY, Ala. — The real estate market in Mobile County has demonstrated resilience and growth in 2023, as shown by data from the Gulf Coast Multiple Listing Service compared to 2022.

One of the most notable improvements is seen in the median days on the market, which has significantly decreased to 20 days in 2023, compared to 34 days in 2022. This indicates a faster turnover of properties, reflecting increased demand and efficiency in the real estate transactions within the county.

The total number of sold listings in 2023 reached 4,717, demonstrating robust real estate activity. While there is a slight decrease from the 5,246 recorded in 2022, the market remains vibrant and active, showcasing consistent buyer-seller engagement.

Despite a marginal decrease in the number of sold listings, the total dollar volume for real estate transactions in Mobile County for 2023 stands at an impressive $1.2 billion. Although slightly lower than the $1.4 billion recorded in 2022, this figure underscores the significant financial impact of the real estate sector on the local economy.

The number of new listings in 2023 is reported at 6,261, reflecting a more focused and strategic approach to the real estate market compared to the 10,461 new listings recorded in 2022. This shift suggests a more balanced and sustainable growth in the real estate landscape.

“Mobile County’s real estate market in 2023 paints a picture of resilience, adaptability, and sustained growth,” GCMLS President Ivy Thompson said. “This data signifies a healthy and dynamic real estate environment, making Mobile County an attractive destination for homebuyers and investors alike.”

About the Gulf Coast Multiple Listing Service

GCMLS is a state-of-the-art Multiple Listing Software System provided by Matrix™ from CoreLogic® that places equal emphasis on performance and functionality.