The October MLS statistics show that 41 homes have sold in the Downtown/ Midtown area of Mobile with an average sales price rising negligibly to $141,077. The median sales price was $126,000, a 9% loss. On the bright side, these homes were on the market on average only 59 days. This is very quick in this housing market.   19 homes have sold in the Municipal Park area of Mobile with an average sales price of $77,542, down 21% since September figures. The median sales price of $75,000 is down significantly as well. These homes were on the market for an average of 85 days prior to being sold, up 24 days over September’s quick pace.

The Springhill/USA area of Mobile has seen 9 homes sold with an average sales price of $199,333, down 22% after a 35% gain from August to September. The median sales price of $182,500 is down 5.5% compared to September. These homes are averaging 122 days on the market, 29 days longer than in September.  36 homes have sold in the Cottage Hill area of Mobile last month, with an average sales price of $151,518, down by 10% from September prices. The median sales price of $139,950 was down nearly 7%. These homes were on the market an average of only 61 days, 40 days more quickly than in September.

In October, 27 homes sold in the West Mobile area with an average sales price of $202,539 and a median price of $165,200, both up over September. These homes sold after an average of 85 days on the market.  October 2008 MLS statistics for the W. Mobile County area show 20 homes have sold in with an average sales price of $213,786 (up nearly 2%) and a median sales price of $229,614 (up 6%). These prices are overall very strong and the days on the market averaged a mere 47 days!

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