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South Mississippi homes sold for much more in July

Rocking chairs are lined up on the porch of a Pass Christian home for sale. The average sales price of a home in South Mississippi hit its highest point in July since the end of 2007, two years after Hurricane Katrina and before the national recession hit the Coast.
Rocking chairs are lined up on the porch of a Pass Christian home for sale. The average sales price of a home in South Mississippi hit its highest point in July since the end of 2007, two years after Hurricane Katrina and before the national recession hit the Coast.

Those who sold their South Mississippi homes in July earned an average of $30,000 more than if they had sold it a year ago.

The average sales price in July was $166,675 — the highest monthly average since December 2007.

Year to date, the average sales price is $155,000 compared to $143,000 for the first seven months of 2016 and $117,000 for the same period five years ago in 2012 during the recession.

As the prices climb, more homeowners are listing their properties for sale. Realtors in South Mississippi had 121 more new listings to show in July than a year ago, according to the numbers released Thursday by the Mississippi Gulf Coast Association of Realtors.

Home sales for South Mississippi counties

Real Estate

July 2017

June 2017

July 2016

Houses sold

485

540

487

Average price

$166,675

$165,949

$136,279

New listings

714

717

593

Source: Mississippi Gulf Coast Multiple Listing Service

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