Mississippi's 3 coastal counties are: Hancock, Harrison, and Jackson.
Disclaimer:The following information is from The Gulf Coast Multiple Listing Service (MLS) and pertains to Harrison County only. Property listed under farms/acreage, land, multi-family, or commercial is not included in this information.
The Gulf Coast MLS, I, nor anyone else could guarantee the accuracy of information beyond that which we enter to the system individually.
The MLS is a wonderful tool undergoing constant change. Keep in mind that the MLS cannot measure all home sales, only those listed by members.
October 1st through October 31st, 2010: Harrison county Gulf Coast MLS Listings available for sell were: 2121, divided as 1806 single family homes and 315 condos.
Condo Scoop
2010: October produced 17 condo sales.The selling price range: $17, 500 to $235, 700. History shows the original list prices to be: $17,000 and $349, 900. 12 of the sales were cash, 3 conventional, 1 FHA, and 1 VA. Area breakdown was: 10 for SE Gulfport, 6 for Biloxi, and 1 for D'Iberville.
14 of the condos were listed as vacant. The 5th, 15th, and 27th tied as most popular closing dates, with 3 closings each.
2009: Closing prices ranged from $25,000 to $291,000. There were 9 condo sales, 7 were. cash, 2 conventional. All were listed as vacant.
2008: The closing price range was from $235,00 to $280,000. There were 6 condo sales: 1 cash, 1 conventional, 4 other.
Single Family Scoop
2010: 83 homes sold of the 1806 listed with the Gulf Coast MLS . Closing prices ranged from $16,500 to $405,000. Gulfport wins in closing popularity for October, 2010. Gulfport is divided as: Gulfport North--26, Gulfport SE--16, Gulfport SW--3. Other area sales for Harrison County were: Biloxi--9, Long Beach--8, Biloxi North--5, Saucier-Lizana--5, Woolmarket-E. Harrison County--4, West Harrison--2.
The purchase methods broke down as: Cash/20, FHA/13, Conventional/24, VA/21, Other/5
746 of the 1806 homes were listed as vacant. 45 of the 83 homes that closed were listed as vacant.
2009: The Gulf Coast MLS had 1796 single family homes listed for sale during October of 2009. 146 homes closed. The closing price range was$21,000 to $342,850. Area popularity: Gulfport North--10 sales, Gulfport SE--15 sales, Biloxi North--13, Bilxoi--16, D'iberville--11, Saucier-Lizana--4, West Harrison-5. Methods of purchase: Cash--33, conventional--50, FHA--35, VA--19, other--19. 745 of 1796 homes were listed as vacant. 70 of the 146 homes that sold were listed as vacant.
2008: There were 2110 homes listed for sale, 96 closed during October. Closing prices ranged from $21,000 to $385,000. Cash talked for 18 closings, Conventional--37, FHA--21, VA--16, other for the remainder. 745 of the 2110 homes were listed as vacant. 48 of the96 homes sold were listed as vacant.
What about November?
2009: 2109 Active listings: 315 Condos/1794 SF Homes
18 sold of 315 Condos: 2 Biloxi, 1 DiIberville, 10 Gulfport SE, 1 Gulfport N., 1 Pass Christian, 2 Long Beach. The closing price range was $27, 500 to $700,000. Method of purchase: cash/10, conventional/7, FHA/1. Occupancy: 15 of the 18 sold were listed as vacant.
165 of the 1794 single family homes sold: Pass Christian/7, Long Beach/15, Gulfport North/55, Gulfport SW/6, Gulfport SE/21, Saucier-Lizana/11, West Harrison County/3, Biloxi/25, Biloxi North/10, Diberville/13, Wookmarket-East Harrison/6.
Methods of purchase: Cash/29, Conventional/67, FHA/36, VA/26, Other/6.
85 of the 165 sold homes were listed as vacant.
2010: November 1 inventory showed 2287 listings SF/1915 and Condo/372. Closings as of the 8th are: 2 condos, 1 each in Pass Christian ($18,500) and SE Gulfport ($143,666) both cash. 1 of the 2 condos that sold were listed as vacant.
12 single family homes have closed. $39,900 to $166,590: Gulfport North/5, Gulfport SE/3, Long Beach/2, Biloxi/1, Biloxi North/1. Cash/6, FHA/2, VA/2, other/1, Owner/1. 8 of the 12 sales were listed as vacant.
Are there any trends?
IF November 2010 mirrors November 2009 it will lead in the number of homes sold by month for 2010. However, other months ranked higher in the dollars sold for the month.
2010 so far is trailing 2009 each month in dollar amount of sales. At the end of September, 2010 was 76 homes short of 2009 while 2010 is leading 2009 by 71 in new listings.
(The reason for including Vacancy status is that vacancy vs occupied for a listing is an oft discussed issue. I have been the listing agent for both occupied and vacant homes, as well as the selling agent for both. So, I thought perhaps tracking actual sales data might lead to a non-emotional decision. Buyers have often remarked that they prefer to view unoccupied, non-staged homes... yet, if they are attracted enough to a staged or occupied home their stance may change. The important thing as a seller of an occupied home is to try and make showings at the convenience of buyers, otherwise you may find your home on the market even longer.)
(The reason for tracking methods of purchase is to try and detect subtle changes in the financing environment.)
Why compare areas in a county?
It is useful to know what area is hot, and what areas are not. If possible, it also makes sense to determine "why" some areas may have more appeal than others; especially if you are a seller. Obviously, North Gulfport has sustained buyer interest for several years.
My chief rationale is because there are so many new home subdivisions and heavy competition. Plus the home owners insurance tends to be lower (please check yourself) in north of I-10 than South of I-10. Really, if you can get a nice, new home for $150K-$160K, your insurance and likely your taxes will be lower, plus the neighborhoods are appealing... Of course there are great deals on older homes as well.
To be fair, other areas are selling, too. It just depends on what appeals to you most. Personally, I would miss living so near HWY 90 and the beach.
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