Mobile Area Association of REALTORS®

Mobile Area July Residential Market Trends

MOBILE COUNTY, Ala. — As the summer progresses, the Mobile County real estate market displays its resilience and stability, offering valuable insights for both buyers and sellers. The data from the Gulf Coast Multiple Listing Service for July highlights key indicators that depict the current trends and dynamics within the market.

With a months of inventory figure of 2.14, July saw an increase of 3.88% compared to the previous June. This statistic speaks to the equilibrium between supply and demand in the Mobile County real estate landscape, offering a range of options for those seeking to make property investments.

The median sold price for properties in Mobile County stood at $225,000 in July, experiencing a slight decline of 2.17% in comparison to June. This adjustment showcases the market’s adaptability in the face of changing conditions while maintaining overall stability.

July witnessed an extension in the median days on the market to 16 days, marking a 33.3% increase from the previous month. This shift provides potential buyers with an extended timeframe to explore available properties, fostering more considered decisions. Sellers are advised to anticipate a slightly longer selling process.

The list to sold price percent edged up to 98% in July, reflecting a slight improvement of 0.21% from June. This statistic signifies that properties are being accurately priced, resulting in prices that are closely aligned with the final negotiated sale prices. Both buyers and sellers can benefit from this increased pricing accuracy.

The number of properties listed in Mobile County experienced steady growth in July, with a 2.8% increase, totaling 872 properties. This growth underscores the sustained interest in the Mobile County real estate market and underscores its appeal to a wide range of buyers and sellers.

“Mobile County real estate market’s performance in July showcases its resilience and adaptability,” GCMLS Board President Timothy Mills said. “The steady growth in property listings and improvements in key indicators like the list to sold price ratio indicate a market that responds well to evolving dynamics. This provides both buyers and sellers with confidence and options.”

As the Mobile County real estate market moves ahead, it continues to hold appeal for investors and homeowners. The July data underscores the market’s capacity to maintain a balanced and dynamic real estate environment, offering opportunities for various preferences and goals.

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.