Hattiesburg-area home prices fall 14% in June, with houses for sale in high demand

Hattiesburg-area home prices fall 14% in June, with houses for sale in high demand

Roger Pettingell Sarasota Real Estate

A typical Forrest County home listed for $225,000 in June, down 14% from the previous month’s $261,500, an analysis of data from Realtor.com shows.

The median list home price in June was down about 6% from June 2021. Forrest County’s median home was 1,875 square feet for a listed price of $123 per square foot.

The Forrest County market was busy, with a median 31 days on market. A month earlier, homes had a median 24 days on market. The market added 96 new home listings in June, compared with the 72 added in June 2021. The market ended the month with some 80 listings of homes for sale.

The median home prices issued by Realtor.com may exclude much, or even most, of a market’s homes. The price and volume represent only homes that are single-family homes, condominums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.

Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.

Lamar County home prices rise 0.6% to $326,450

Lamar County’s home prices rose 0.6%, to a median $326,450, from a month earlier. The typical house was on the market for 34 days, from 29 days a month earlier. The typical 2,475-square-foot house had a list price of $148 per square foot.

Across metro Hattiesburg, median home prices fell to $298,900, down 0.3% from a month earlier. The median home had 2,172 square feet, at a list price of $135 per square foot.

Across all of Mississippi, median home prices were $269,900, rising 0.1% from a month earlier. The median Mississippi home for sale had 2,025 square feet at list price of $128 per square foot.

Across the United States, median home prices were $450,000, up 0.7% from a month earlier. The median American home for sale had 1,887 square feet, listed at $228 per square foot.

The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what’s happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

Central Mississippi Realtor Rick Henson of McIntosh and Associates said, in his opinion, business appears to be in similar standing as a the last few months.

“The market is slowing a little because of rising interest rates,” Henson said. “But we still have a shortage of homes. Inventory has not returned to normal since before COVID status.”

Henson also said foreclosures don’t appear to be any higher or lower than at any other time recently.

Clarion Ledger reporter Ross Reily contributed to this story. Reily can be reached by email at rreily@gannett.com. You can follow him on Twitter @GreenOkra1.

The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database.. The story was written by Mike Stucka and Sean Lahman.


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