Report: Home prices were up in South Mississippi in May

MISSISSIPPI GULF COAST — The average sales price of a home in South Mississippi rose again in May to the highest level of the year.

The price increased to $122,293. That’s according to a report from the Mississippi Gulf Coast Multiple Listing Service.

That was just $1,000 shy of the average price a year ago and $5,000 higher than in April.

After starting the year at a post-Hurricane Katrina low of $103,000, the average sales price of a home in South Mississippi jumped to $114,000 in February.

The Sun Herald reports 16 more homes were sold this May compared to a year ago. Since the start of the year, 1,286 homes were sold through MLS, an increase of 82 over the first five months of 2011.