The Mobile real estate market, though cooling after a record couple of years, still remained a seller’s market in April, new data from the Alabama Center for Real Estate shows.

“We’re still in a seller’s market because we don’t have enough supply,” Charlie Plyler, president of the Mobile Area Association of Realtors, said.

In April, the total number of residential sales in Mobile was 386, a decline of 22.3% from the previous year. Prices remained high, though stable: the median sales price for a home was $225,000, the same median price as one year prior. The five-year average of the median home price from April 2018-April 2022 is $176,030.

Inventory remained low, with 1.7 months of housing supply available in April. That is an increase from the previous year, when there was 1.5 months of supply, but still far from where the market would be considered “neutral.” Plyler says that’s about 4-5 months of supply.

All signs point to a seller’s market, even if sales aren’t happening at the rate they were in 2021, Plyler says. Demand is still high, but supply isn’t able to keep up, because there are fewer homeowners willing to sell their homes, he says.