Sold! South Mississippi homes moving faster, at higher prices
Real estate statistics for the three Coast counties show:
-- The average sale price through August is up more than
-- A home is on the market an average of 155 days this year, compared with 168 days in 2014.
-- Inventory is shrinking.
-- Foreclosure rates are below the national average in all three Coast counties.
"I like where we're headed," Rogers said, "very much so."
He said the housing market is all about well-paying jobs -- something the Coast needs more of.
"We are seeing more movement," said
The cost of windstorm insurance, which skyrocketed after Hurricane Katrina, can make or break a real estate deal. Buyers also are wary of properties in flood zones, a big part of the coastal market.
Foreclosures can still be a damper on the market. They are trending back up in
"The good news is, this isn't a new way of distress," Blomquist said. "But foreclosures can have an effect on the market even if they're tied to old loans. When they're hitting the market, they're selling as a distressed sale."
Foreclosure sales can bring down appraised values for other sellers in the same area.
"We are definitely seeing a lot of low appraisals," said
It's still a buyer's market in many communities, but that's not always the case. Homes sell fast, for example, around the quaint downtowns of
"There's no exact science in this real estate business," Holliday said. "The market is very active right now. People have been sitting on the sidelines for years."
He said new attractions such as the minor-league baseball stadium in
"It's the whole package," he said. "The Coast is a very attractive place to own a home right now, and to own a second home."
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