Natchez one of state’s most expensive housing markets

Published 12:00 am Sunday, September 26, 2010

Natchez — Coldwell Banker Real Estate LLC recently released its Home Listing Report, a snapshot survey of U.S. four-bedroom, two-bathroom home listings,

The report found a $1.7 million difference between America’s most expensive and most affordable housing markets. Newport Beach, Calif., led the list of most expensive real estate markets in America, with an average home listing price of approximately $1.83 million for property listings meeting the subject home criteria. By contrast, America’s most affordable housing market was Detroit, with an average home listing price of approximately $68,000.

The HLR provides the average home listing price of more than 18,000 four-bedroom, two-bathroom properties on coldwellbanker.com that were listed between February and August 2010 from nearly 300 select U.S. markets where Coldwell Banker Real Estate has a presence. The U.S. average for the surveyed listings was approximately $353,000. Markets included in this report were required to have at least six properties fitting the above criteria within the relevant timeframe.1

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Home listing prices in Natchez average $ 222,893, making Natchez one of the most expensive markets in the state. Natchez compares to the average listing price of homes in Baton Rouge, which had a home price average of $246,106 and Gulfport, where the average was $223,525.

Baton Rouge and Gulfport are each state’s most expensive housing market, according to the report.

In Mississippi, Jackson is the state’s most affordable housing market with an average of $149,288. For Louisiana, New Orleans is the state’s most affordable market, with an average price of $166,009.

“The HLR is a great way for people who are curious about home listing prices to get a glimpse of various markets,” said Butch Stewart, owner and broker of Coldwell Banker Stewart Realty. “By reviewing the report data, people can truly recognize the local nature of real estate.”