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Old 10-29-2005, 09:43 PM
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Lightbulb Residential Real Estate prices up in South Mississippi

Surging residential real estate prices and waiting national buyers possibly point to the fragile beginning of a land boom in South Mississippi, according to local housing market figures and people working with real estate.

"I've had lots of calls from lots of investors all over the country," said John Harris, a Hancock County real estate agent with Latter & Blum Realtors. "They're all on a list waiting for zoning to allow condos. It's a seller's market."

September figures released by the Mississippi Gulf Coast Multiple Listing Service show a spike in home prices but a drop-off in houses sold. The average home sold for almost $184,000 compared to almost $136,000 for the same month last year.

So far in 2005, homes are selling more than $18,000 higher than they were for the same period in 2004.

The numbers are gathered from 325 real estate agencies pooling their listings in South Mississippi.

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