(WKRG) — Home prices in Mobile increased 12.2 percent in the last year, according to a new survey, but they still are among the lowest in the nation for medium-sized metro areas.
The median home price in the Mobile metro area is now $145,252, compared to the national median of $281,370. Out of all 96 midsize U.S. metros, Mobile has the 11th least expensive real estate.
The Daphne-Fairhope area saw prices jump 11.6 percent to a median home value of $256,992. Prices jumped 12.5 percent in Pensacola, where median prices are now $218,789. The median home price in the Destin/Fort Walton Beach area is $327,297, up 12.4-percent.
The median home price in New Orleans is $231,224 (+9.1%) and in Birmingham is $195,643 (+10.7%).
The study was conducted by Inspection Support Network looking at new residential sales data from the U.S. Census Bureau. Nationwide, the percentage of homes under $300,000 dipped to 35.4 percent in 2021, a decrease of more than 46 percentage points from 2002, when 82 percent of new homes on the market cost less than $300,000.
See the full report here.