Monday Market Update: Moving Dirt

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Word on the street…

Moving Dirt!! We are seeing a lot more of that here lately!  From the Sands on Front Beach, to the Inlets on Hwy 90 plus several in between like the previous home of Sassy Salads and a new community off of Government, we will give you the brief scoop here on what's happening. 

Well for starters, you might have noticed some activity on the beach?!?  This will be the new home of our first planned unit development in Ocean Springs.  The developer has set out to incorporate 41 homes into the community that is being referred to by planning as townhomes due to not having a category in our zoning.  The residence will share ownership of all of the land and common elements much like a condominium homeowners association structure, but will be single stand alone homes.  Homes start in the high $400’s and they have several presold. Jumping across the highway, Inlets Residences just released their first few condos to the market last week. These condos start in $160K range and will be part of a mixed use development with everything from retail to a dog park all overlooking Fort Bayou.  We have been sharing details on social media such as floorplans and pricing.

The construction you see right in the middle of downtown Ocean Springs on Washington will soon be a new site for retail opening to Washington and apartments up top, many times referred to as a live work. More to come in our next post on that one and this next one, which will be the site of several new construction homes off of Government near Oak Park school.  We would be happy to share more details on any of these development. Message us or call.

So we have some in-depth numbers for those of you that want to dig in, but for those of you that want us to give you the scoop... it’s looking like a pretty good 2018. The market has given us some improving stats thus far.  In April, we have had 25% more sales than in 2017; and there are 19% more homes pending. The average sales price is up 5% from 2017 and now at an average of $158,075. Also the days on market have decreased by over 9% and is now at an average of 100 days from time of listing to being sold.  All in all these are good signs for sellers and those of you wanting to build a little more equity in the properties you already own! Happy Home Selling and keep us in mind next time you are looking to do something in the real estate world. We basically do it all… sell, rent, buy, develop and manage.  

LINK TO STATS: for In-Depth Numbers
 

by: Roxy Condrey, Owner/Broker

 

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