November Mobile County Area Residential Market Trends

The Gulf Coast Multiple Listing Service has released the residential real estate data for the Mobile County area for the month of November, revealing notable trends in key metrics.

The months of inventory for November stand at 2.74, showing a modest increase of 4.18 percent compared to October. This indicates a slight uptick in housing supply, potentially offering more options for prospective buyers.

The median sold price in November was $203,950, reflecting a marginal decrease of 0.51 percent when compared to October figures. Despite this slight decline, the market continues to show stability, and the median price remains within a competitive range.

The median days on market increased to 20 in November, marking a 17.65 percent rise from the previous month. While homes are spending a bit more time on the market, the real estate landscape remains dynamic, presenting opportunities for both buyers and sellers.

The list to sold percent for November reached 97.4 percent, indicating a positive shift of 0.62 percent compared to October. This improvement suggests that properties are aligning more closely with their listed prices, contributing to a healthier market balance.

The total number of properties in November was 1,159, showing a 5.2 percent increase from October. This rise in inventory offers a more diverse selection for home seekers and contributes to the overall vibrancy of the Mobile area real estate market. As we navigate through changing market dynamics, these trends signify the adaptability and resilience of the Mobile area’s real estate sector.

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