Mississippi Real Estate Trends - A New Way to Look at Mississippi Realty

Recent trends in Mississippi real estate indicate that prices have evened out as buyer’s and seller’s negotiate a new understanding of the value of property in the modern economic climate. Between the end of 2011 and April of 2012, the average price for a condo or townhouse in Mississippi went from $145,000 to $152,000. Single family homes, both in and out of the city, averaged a list price of $208,000 at the end of last year and seller’s are now asking an average of $215,000. With approximately 60% of the market share, single family homes and townhouses/condos constitute the foundation of the Mississippi real estate market.

While the seller’s of single family homes and condos/townhouses seem to have agreed upon the correct price point for Mississippi real estate, evidence indicates that buyer’s still expect to get great value for their money. Over the past 5 months, the average sale price of a single family home in Mississippi has been $115,000, 45% below the average list price. In the condominium market, the average sale price is $129,000, almost 14% below the asking prices.