The Al & Dee Real Estate Group
Market Conditions - June 2010

We see significant progress in the housing economic recovery underway. And although unemployment rate is still around two-digits, interest rates continue to be at near-record lows which encourage growth during 2010. Average 30-year fixed rates are now just under 5 percent, according to the Mortgage Bankers Association, and as the economy rebounds rates could rise by another quarter of a point in the coming months. November and December 2009 produced the best evidence when new home starts jumped by 9 percent, according to the Commerce Department. So if you're timing the sale or purchase of a home, keep a special watch on interest rates.

A big chunk of the gain was attributed to apartment project starts, while only 2.1 percent were for detached single family homes. More noteworthy were the new permits builders pulled for future starts of new homes -- they jumped 5.3 percent. Meanwhile, sales and prices in major markets were positive for the month of November and December.

Check out the chart below for current and past comparative sales* 

	June 10 Listing**	Avg. List Price	June 10 Closed	Avg. Closed Price	Avg. Days on Market	List/Sell %
Long Beach	38	$139,538	8	$105,641	118	88%
N. Gulfport	91	$126,706	34	$146,021	168	96%
SW Gulfport	16	$94,547	7	$89,379	135	89%
SE Gulfport	39	$164,053	10	$117,490	150	92%
Saucier/Lzna	25	$154,514	7	$164,686	99	94%
Biloxi	26	$178,859	4	$160,120	111	94%
N. Biloxi	16	$214,506	8	$163,410	109	105%
d’Iberville	23	$136,613	2	$168,206	275	98%
Wlmkt/E. Hrsn	10	$235,671	3	$281,733	285	95%
W. Jackson	1	$874,900	0	$0	0	0
St. Martin	46	$146,771	12	$140,692	145	93%
Ocean Springs	93	$167,502	25	$176,248	142	94%
Vancleave	16	$171,322	2	$239,950	376	100%
Gautier	42	$148,979	4	$116,325	211	96%
Pascagoula	24	$136,630	2	$95,500	209	95%

 * Gulf Coast Multiple Listing Service, Dec 09.  ** Number of Listings Entered in one Month  

Bottom line N. Biloxi homes sold brought in more money than the listings price while homes in ong Beacg brough in less. More homes sold in N. Gulfport followed by Ocean Springs at 25. There were no homes sold in West Jackson County. Homes stayed on the market longer in Vancleave (376 days) and homes in Saucier/Lzna sold faster. 

Of the people that you know, who do you think needs to buy or sell a home? Please let us know and it’ll be our pleasure to assist them.