How Is the Gulf Coast Housing Market Right Now?

By Bryan David

Bryan David is one of the best REALTORS® serving Ocean Springs, Biloxi, Gulfport and the entire coast. He is a Biloxi native, military veteran and retiree, and a multi-year top-producing agent with hundreds of satisfied clients.

Is now a good time to buy or sell a home? I get this question a lot. The truth is, the market isn’t what it was during the pandemic. Homes aren’t flying off the market in bidding wars, but we’re also not heading for a crash. If you’re thinking about making a move in 2025, here’s what you need to know.

For the first time in years, we have more homes for sale. Inventory is back to pre-pandemic levels. That means buyers finally have options again. If you’ve been waiting to buy, now might be your chance. More homes mean less competition, and sellers are starting to adjust their prices.

Sellers, this also means you need to be smart. Overpricing your home will only hurt you. Buyers have more choices now, so if your home sits too long, people start wondering, What’s wrong with it? Price it right from the start, and you’ll sell faster.

For the last few years, home prices on the Gulf Coast have hovered around $275,000. But now, prices aren’t rising like before. In real estate, when prices stop climbing, a small drop usually follows. I don’t expect a crash, but slight price declines are likely.

A lot of factors will impact the market this year, including interest rates, new policies, labor shortages, even natural disasters. Buyers, be careful not to overpay. Make sure your agent does a full market analysis before you make an offer. Sellers, set your price just below mid-market to attract buyers and avoid sitting on the market too long.

There are three things that sell a home—price, location, and condition. You can’t change your location, but you control the other two. Homes that are clean, updated, and move-in ready sell the fastest.

Insurance is also a big deal right now. If your home has an old roof, expect questions. Insurance companies are charging higher rates for older homes. If you can’t replace your roof, have a plan. Offer buyers a credit or be upfront about the costs.

Not every market is the same. One part of the coast may be booming, while another is slowing down. If you’re thinking about buying or selling, you need to know what’s happening in your zip code.

We can help. Let’s talk about your goals and make a plan that works for you. Call us at 228-215-1861 or email bhgre@expectrealty.com today.