SE Gulfport MS, Harrison County *13 Closings in the last 90 Days*

I apologize that this is informative rather than fun. I am working on a fun way to report market data.

141 Active MLS Lot listings ranging in price from $10,000 to $1, 100,000. Some of these are tax deed properties.

17 condo rent/lease units ranging from $800 a month to $1500 a month. (Some units may actually be duplexes or town homes). Some units come fully furnished, some with appliances only.

142 active MLS units listed as condos ranging from $74, 900 to $750,000.00

274 SF listings, some of which may still be Katrina gutted.

Price range is from $40,000 to $3, 900,000. (1 bed/1bath 740sf to 7,762 sf 6 bed/7 full and 2 half baths on 12 acres).

Keeping in mind we have extreme highs and lows, the average listed home for SE Gulfport is a 3bed, 2151 sf, listed at $271, 324.

The last 90 day closings have a different twist.

The Low: Originally listed 10/16/08 for $22,000.00. It went to pend status 11-04-08 and closed 12-02-08 for $24,000.00. (cash sale).

The High: Originally listed 2/27/07 @ $765,000.00, expired 11/21/07, re-listed 12/13/07 at $699,000, 06/05/08 reduced to $670,000.00. Pending date was 8/19/08 with closing 09/30/08 at $630,000.00 with a conventional loan.

The Average Closing: 1860 sf, sale price: $161, 795. with 146 dom.

Interesting that the average listed home is $109, 529 more than the average sold home.

I have had information requests in the $89,000 to $150,000 range. So, let's take a general look.

Active listings =80. The average is a 2bed, 1394 sf listed at $123, 423 for an average of $92.05 SF.

There were 13 MLS reported closings in the last 90 days. The high in this price range was 4bed/2,300 sf closing at $147,000 at 547 days on the market. The low was a 2 bed/1000 sf, $85,000 sale price, 9 dom. The average: 3 bed;1692 sf, sale price $117,040, 120 dom.

Please keep in mind that SE Gulfport is a tiny portion of the Mississippi Gulf Coast and Harrison County. The nearest other MLS areas are Long Beach and SW Gulfport. Often, buyers will not have a specific area in mind. It seems that being close to work is advantageous, but not as interesting as a great deal on a home.

I am happy to do extensive research for a buyer or seller client, including specific property visits, photos, etc.