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Home sales, prices up on Coast compared to 2010

MISSISSIPPI GULF COAST — Mississippi Gulf Coast home sales finished 2011 on an upswing, with average sales prices up $8,000 in December and more homes sold than at the end of 2010.

The Mississippi Gulf Multiple Listing Service report showed the average sales price of a home in South Mississippi was $124,694 in December.

That was $2,000 below the average sales price a year earlier and up from a low of $111,738 in September.

Lance Nail, dean and professor of finance at the University of Southern Mississippi College of Business in Hattiesburg tells The Sun Herald one of the signs of economic recovery in the state has been a reduction in the number of homes for sale.

Nail said Mississippi is seeing home supply and demand starting to meet again.

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