Re-blogged by 0 agents

Updated statistics for the Mississippi Gulf Coast

Hello Everyone,

On June 30th, I wrote a blog post about the closings for the month of June here on the Gulf Coast.

I stated that while I was writing on the 30th, and that there was still time for more closings to be reported, I estimated they wouldn't amount to more than 30 or so.

Boy was I wrong!

As of today July 6th, 2010 the Stats for the number of closings on the Mississippi Gulf Coast for the month of June is:   261

This is an increase from the number of closed properties from June 2009, but a decrease in the number of closed properties from May 2010.

The Median Sales price for June 2010 was $120,000  for June 2009 it was $142,000

The Average Sales price for June 2010 was $128,972- for June 2009 it was $158.811

A huge decline in a year! But, at least we are now selling more than we were last year, so are we starting to see a recovery? Or will the BP spill kill the recovery here on the coast (As indicated by the decrease in closings from May 2010 to June 2010)?

We will have to wait and see what July and August results are.

If you need any real estate information, from houses to Condos to Foreclosures, or commercial, contact  Gerard Maher with Gulf Coast Realty at 228-229-4685 or email at CallGman@yahoo.com

Gulf Coast Realty serving the Mississippi Gulf Coast for All your real estate needs

Housing Stats for the Mississippi Gulf Coast are the effected by the Oil Spill? (edit/delete)

Hi Everyone,

I just did some research on our Gulf Coast MLS system to compare stats for the Mississippi Gulf Coast Area for the months of May & June from 2007 till today.

What I have seen is a downward trend in the number of homes sold for each period.

In 2007 for the time of May 1 to May 30 there was 416 properties sold,

In 2007 for the time of June 1 to June 30 there was 465 properties sold

In 2008 from May 1 to May 30 there was 280 properties sold

in 2008 from June 1 to June 30th there was 354 properties sold

in 2009 from May 1 to May 30 there was 231 properties sold

in 2009 from June 1 to June 30th there was 230 properties sold

in 2010 from May 1 to May 30th there was 291 properties sold

in 2010 from June 1 to June 30th at noon, there were 190 properties sold.

There is still time for closings to be reported today and tomorrow for today, but I don't believe we will see more than 30 or so units added to this Junes number.  So this June has really differed from years past in that it has significantly decreased in closings as compared to the month of May.

I don't know of any factors that would contribute to that decline other than the BP Oil Spill in the gulf. Interest rates and prices of homes are both low, the economy while slow, is no longer dipping lower. While the tax credit ended in April and could be one of the factors, the sales to enjoy the tax credit don't have to close until the end of June (Now that might be changing too).  I am just speculating here and not trying to pin the blame on any one cause, but I do think further investigation should be pursued.  What do you think?

Gerard Maher  Gulf Coast Realty, serving the Missisippi Gulf Coast

Hello Everyone from Gulf Coast Realty!

Here are November's housing stat's for Biloxi and N. Biloxi combined from the Gulf Coast MLS.

The number of SOLD homes/Condos in Biloxi/North Biloxi that sold in November was  25

The Median Price of homes sold was:     $129,900
The Average Price of homes sold was:    $140,648

The Median Sq. footage was      1765 sq. ft
The Average Sq footage was      1695 sq/ ft

The Average Days on Market  was 189
The Median Days on Market was    134



The Number of Available or Active homes/condos for sale in Biloxi/N. Biloxi  in November was 496
The Average List Price of Active homes/condos was $250,693
The Median List Price of Active homes/condos was  $199,650
The Average Days on Market     238
The Median Days on Market       167



In November, the number of homes/condos that went under contract according to Gulf Coast MLS (usually under reported by agents) was   6

The Average List Price for homes/condos that went under contract was
$138,199

The Median List Price for homes/condos that went under contract was
$143,950

This is the market in November for Biloxi. We will compare over time the trends and fluctuations that occur in the course of the year.

Have a Safe and Happy Holiday Everyone!

If you would like information for your area, or would like to know about values of homes to sell or purchase, contact Gulf Coast Realty at 228-865-9998 or email us at Info@GulfCoastRealty.info