Mobile County Residential Market Trends for September
MOBILE COUNTY, Ala. – The Mobile County real estate market continues to be a seller’s market, according to the latest data from the Gulf Coast Multiple Listing Service.
“I’m pleased to see the market’s resilience in the face of changing conditions,” GCMLS Board of Directors President Timothy Mills said. “The market remains robust, with ongoing interest and ample opportunities. It’s an exciting time to be a Mobilian and we encourage all homeowners to stay informed and collaborate with REALTORS® to navigate our market.”
In September, the Mobile County residential market reported a Months of Inventory (MOI) of 2.38, marking a slight increase of 0.42% compared to August. This suggests that buyers still have a range of housing options, although competition is gradually intensifying. The median sold price in Mobile County for September stood at $233,625, reflecting a robust increase of 4.13% compared to August. This uptick indicates that property values are on the rise, and homeowners are benefiting from a healthier market.
One notable change in the market is the Median Days on Market, which increased to 18 days in September, representing a 20% increase from August. This longer time on the market could be attributed to a variety of factors, including changing buyer preferences and the evolving economic landscape.
The List to Sold Price Percent in Mobile County for September registered at 97.7%, marking a slight decrease of 0.45% compared to August. This suggests that sellers may be adjusting their pricing strategies to accommodate shifting market dynamics.
Despite some fluctuations, the number of properties available on the market remained resilient, with 1,002 properties listed in September. This reflects an increase of 0.6% compared to August, indicating ongoing interest in the Mobile County real estate market.
As the real estate market continues to adapt to changing conditions, both buyers and sellers should closely monitor these trends. While inventory levels remain relatively healthy, the increase in Median Days on Market suggests that buyers may be taking more time to make decisions. Meanwhile, the rising median sold price underscores the value of homeownership in Mobile County.
For more information on Mobile County’s residential market trends or to connect with local real estate experts, please visit our website here.