Mobile Area Residential Market Trends for January

MOBILE, Ala. — The Gulf Coast Multiple Listing Service (GCMLS) has released its data analysis for the Mobile Area’s residential real estate market in January, revealing notable trends that reflect the region’s dynamic housing landscape.

Months of Inventory, a key indicator of market supply and demand, stood at 2.58 in January, showcasing a 4.44 percent decrease compared to December. This decline suggests a tightening housing market, potentially indicating increased competition among buyers.

Despite a slight dip, the Median Sold Price for homes in January remained solid at $215,000. This figure reflects a 2.27 percent decrease compared to December, suggesting stability in the market as prices adjusted marginally.

The Median Days on Market experienced a noteworthy increase, reaching 39 days in January—a 39.29 percent surge from the previous month. This metric underscores the importance of strategic pricing and effective marketing strategies for sellers to navigate the evolving real estate landscape.

The List to Sold Percent, measuring the success rate of properties hitting the market, was 96.3 percent in January, indicating a resilient market despite a minor 0.38 percent decrease compared to December.

In terms of inventory, the total Number of Properties in January was 1,088, marking a 4.5 percent decline compared to December. This reduction suggests a potential adjustment in the overall housing supply, contributing to the nuanced market conditions.

These statistics underscore the ongoing resilience and adaptability of the Mobile Area’s real estate market. As we move forward into the new year, staying attuned to these trends will be crucial for industry professionals and consumers alike.