Mobile Residential Sales Report February 2019

Transcription

1 Mobile Residential Sales Report February 2019 Total Residential Sales Current Month February Mobile residential* sales for February '19 totaled 343 units, an increase of 12.1 percent when compared to last year. By Product Type (% of Total Sales) Existing SF: 311 (91%) 280 (92%) Condo: 6 (1%) 9 (2%) New Const. 26 (8%) 17 (6%) *Residential = existing single family, condo, & new construction vs. Prior Month January % vs. Last Year February % vs. 5-Yr Avg February 14-' % vs. Peak February % vs. Trough February % Year to Date February vs.prior Year February % Mobile: Total Residential Sales ACRE Commentary Historical data indicates that February sales on average ( 14-18) increase 7.4 percent from January. The current month's sales increased 47.2 percent from the prior month. Historical Residential Sales February Graph: February February (By Month) February February February Year Avg: Year Avg: 282 Median Sales Price Current Month February ,500 The median sales price in Mobile in vs. Prior Month January , % February 2019 was $143,500, vs. Last Year February , % representing a 1.0 percent decrease vs. 5-Yr Avg February 14-'18 125, % from last year. By Product Type (Y-O-Y Comparison) Existing SF: $138,500 $140,000 Condo: $213,500 $145,000 New Const: $205,900 $219,000 Year to Date February , vs.prior Year February , % Median Peak February , % Trough February , % $160,000 $150,000 $140,000 $130,000 $120,000 $110,000 $,000 $90,000 $80,000 Mobile: Median Sales Price 145, , ,500 90,000 ACRE Commentary Historical Median Selling Price Graph: February Historical data indicates that February median sales prices on (By Month) February ,000 average ( 14-18) increase 9.7 percent from January. The current month's median price decreased 1.0 percent from the February ,000 prior month. February ,450 February ,450 February , Year Avg: 125, Year Avg: 130,150 Page 1 of 5

2 Average Sales Prices Current Month February ,357 The average sales price in Mobile for vs. Prior Month January , % February 2019 was $161,357, a 5.0 vs. Last Year February , % percent decrease from last year. vs. 5-Yr Avg February 14-'18 146, % By Product Type (Y-O-Y Comparison) Existing SF: $155,708 $166,715 Condo: $222,417 $158,444 New Const: $214,840 $228,592 Year to Date February ,179 vs.prior Year February , % Average Peak February , % Trough February , % $180,000 $170,000 $160,000 $150,000 $140,000 $130,000 $120,000 $110,000 Mobile: Average Sales Price 169, , , ,658 ACRE Commentary Historical data indicates that February average sales prices on Historical Average Selling Price Graph: February (By Month) average ( 14-18) increase from January by 7.7 percent. The February ,909 current month's average sales price decreased 1.0 percent from February ,949 the prior month. February ,149 February ,328 February ,223 5-Year Avg: 146, Year Avg: 152,336 Days on Market (DOM) Current Month February The average number of days that a Mobile home was on the market in February 2019 was 70 days, representing a decrease of 30 days on market from last year. By Product Type (DOM Comparison) Existing SF: Condo: New Const: vs. Prior Month January % vs. Last Year February % vs. 5-Yr Avg February 14-' % Year to Date February vs.prior Year February % Mobile: Average Days on Market ACRE Commentary Historical Average DOM Graph: February "Historical data indicates that February average days on market on average ('14-'18) increases 6.6 percent from January. The current month's DOM average decreased 1.4 percent from the previous month. DOM is anticipated to remain within the current range (40 90 days) for the foreseeable future. February 2018 (By Month) February February February February Year Avg: 106 Page 2 of 5

3 Total Homes Listed for Sale Current Month February ,352 Mobile homes available for sale in February vs. Prior Month January , % 2019 decreased by 231 units when vs. Last Year February , % compared to the same period last year. vs. 5-Yr Avg February 14-'18 2, % Mobile: Total Homes Listed 3,800 3,457 3,300 3,145 By Product Type (Inv, Comparison) Existing SF: 1,187 1,400 Condo: New Const.: Inventory Peak February , % Trough February , % 2,800 2,300 1,800 1,352 1,300 ACRE Commentary Historical Total Homes Listed Graph: February Historical data indicates that February inventory on average ( 14-18) increases 0.4 percent from January. The current month's inventory decreased 3.0 percent from the prior month." February ,583 (By Month) February ,880 February ,184 February ,565 February ,619 5-Year Avg: 2,166 Inventory-to-Sales Ratio Current Month February The inventory of homes for sale divided vs. Prior Month January % by the current monthly sales volume vs. Last Year February % equals the # of months of housing supply vs. 5-Yr Avg February 14-' % (market considered to be in balance at approximately 6 months). Mobile currently has 3.9 months of housing supply, down from 5.2 months of supply one year ago. I/S Ratio Peak February % Trough February % Mobile: Months of Supply ACRE Commentary Historical I/S Ratio Graph: February "February's 3.9 months of supply is well below the 5-year average of 50.4 months. Mobile's inventory-to-sales ratio is 2.1 months below equilibrium, indicating that sellers have elevated bargaining power." February (By Month) February February February February Year Avg: Year Avg: 6.7 NOTE: This representation is based in whole or in part on data supplied by the reporting boards/associations of REALTORS or their Multiple Listing Service. The Alabama Center for Real Estate does not guarantee and is in no way responsible for its accuracy. Any Market data maintained by the Center does not necessarily include information on listings not published at the request of the seller, listings of brokers who are not members of a local board/association or MLS, unlisted properties, rental properties, etc. The statistics included in this report reflect the residential sales of houses, condominiums, and town homes. Historical Monthly Housing Statistics are available on the web at Alabama Center for Real Estate's homepage - Page 3 of 5

4 Residential Sales: February Sales ,700 1,650 1,600 1,550 1,500 1,450 1,400 1, 1,300 1, 1,200 Inventory Mobile Sales Mobile Inventory Historical Residential Sales in February of Each Year Sales ,700 3,200 2,700 2,200 1,700 1,200 Inventory Mobile Sales Mobile Inventory Page 4 of 5

5 Average Days on the Market & Median Sales Price Average Days on Market , , , , ,000,000 90,000 80,000 Median Sales Price Mobile DOM Mobile Median Sales Price This report is compiled and brought to you by ACRE Research. You should not treat any information expressed in ACRE Reports as a specific inducement to make a particular investment or follow a particular strategy. The Alabama Center for Real Estate (ACRE) and/or its partners/work product sponsors does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. ACRE will not be liable for any loss or damage caused by your reliance on information contained in ACRE Reports. Page 5 of 5