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Waterfront homes and lots for sale in Biloxi & Gulfport MS have been slow selling over the past year. To date (15 March 2010), from a year ago, only 7 waterfront homes have sold in the Biloxi/Gulfport area compared to 24 for the prior year period.
Prices have fallen considerably in the waterfront homes market, making some of the most desirable real estate on the Mississippi Coast within reach of many more buyers, and offering the ability to see an outstanding increase in value over the coming years.
Waterfront lots, including lots on the bay, bayou, canals, and rivers, have seen similar impacts. Some waterfront lots are seeing closed prices in the $10,000 range – unheard of. This is attributed to a huge supply, as well as a slight stigma from Hurricane Katrina. Many of these properties will see great appreciation rates in the coming years as waterfront development starts to spur again.
There are an abundance of deals in the MS Gulf Coast waterfront market. Whether you are looking for a waterfront lot, waterfront home, or a nice condo overlooking the bayou – there really has been no better time to buy.
Contact me if you have any questions about the MS Gulf Coast Real Estate Market.