Business

June home sales on Coast are strongest since 2007

South Mississippi’s real estate market heated up in the summer of 2017, with more homes sold in June than any other month this decade and at the best average monthly price since 2007.
South Mississippi’s real estate market heated up in the summer of 2017, with more homes sold in June than any other month this decade and at the best average monthly price since 2007. meperez@sunherald.com

The real estate market is hot in South Mississippi, with more homes selling and at a higher average price in June.

The last time the average monthly sales price of a home in South Mississippi topped $165,000 was 10 years ago in December 2007, which was two years after Hurricane Katrina.

In fact, June’s average price of $165,949 was only the third time since 2007 that the average monthly sales price was above $160,000. The other times came in July 2013, June 2009 and June 2008.

Not only are prices up. Mississippi Gulf Coast Multiple Listing Service reported Thursday that 540 homes were sold in June — the highest total sold in one month in South Mississippi in the last decade.

Homeowners are taking advantage of the higher sales price and listing their homes for sale. For the first half of the year, 4,246 were listed compared to 3,665 for the first six months of 2016 and 3,748 for the first half of 2015.

Sun Herald

Home sales

for counties in South Mississippi

Real Estate

June 2017

May 2017

June 2016

Houses sold

540

513

486

Average price

$165,949

$153,815

$153,807

New listings

717

743

640

Source: Mississippi Gulf Coast Multiple Listing Service

  Comments