April Mobile Real Estate Update

According to the Mobile Area Association of REALTORS and reported by the Alabama Real Estate Journal, April home sales increased 12.2% year-over-year from 386 to 433. Sales increased 5.6% from March. Sales are down 3.8% year-to-date. April listings (1,037) increased 4.7% from March and increased 53.4% from last year. The median sales price in April was $234,900, up 4.4% from a year ago and an increase of 6.8% from March. Homes sold in April averaged 45 days on the market, seven days slower than in April 2023. The 51 new homes sold represent 11.8% of all residential sales in the area in April. Total sales increased 18.6% year-over-year. The median sales price in April was $306,095, an increase of 7.4% from a year ago and a decrease of 3.1% from March.