Biloxi Mississippi Real Estate Market Soaring
With changes in gaming regulations in Mississippi allowing land based casino gaming, Biloxi is having a huge surge in real estate prices. The city is poised to experience a housing and gaming boom during the hurricane rebuilding going on. Going through the horror of the hurricane, it is nice to see the residents have a chance for a financial windfall if they choose to sell.
Real estate experts say Biloxi’s market hasn’t been this hot since gambling was legalized in the state more than a decade ago. New developers and those already in the Biloxi market plan to rebuild casinos damaged by Hurricane Katrina and create resorts with hotels and condominiums.
A change in the state’s gaming law, which now allows land-based casinos, has helped spark interest in coastal properties.
Kopszywa believes she and almost all her neighbors eventually will move.
Traffic steadily flowed this week in front of the travel trailer parked on her driveway. Cars and tour buses headed to the Palace Casino Resort at the end of the street.
“It’ll be asphalt and concrete. They’ll use it as a parking lot,” Kopszywa said as she looked at her 13,000-square-foot property.
Areas near the Back Bay of Biloxi, including east Biloxi and D’Iberville, are expected to see the most growth, said Len Blackwell, a former Mississippi Gaming Commission chairman. But Bay St. Louis and Waveland also will thrive, he said.
“You’re not going to see casinos on every corner,” Blackwell said. “You’re not going to see a great expansion. You’ll see development in places where you could legally have casinos anyway, especially on the Back Bay.”
Chevis Swetman, president/chairman and CEO of the Peoples Bank in Biloxi, said at $40 to $50 per square foot, some property owners stand to make $2 million on an acre of property. Prices were closer to $10 to $15 per square foot before the storm. via The Clarion-Ledger.
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
I see the question I have, but no response. I do not have a for sale sign up ...
I'll add mine to the list too. This is happening in Kansas City, Missouri as well now.
We already knew ...
Comment by Amy Olier, Realtor on 3 August 2007:
Biloxi is the place to buy real estate. Even though the market has cooled off a little bit since Hurricane Katrina, the rebuilding effort are staggering. New casino developments are still in the works, in Biloxi and D’Iberville. Currently, I have a house listed that has been zoned gaming with very motivated sellers. The approximate appraised value is over $150,000 and the list price is $143,000. Like I said “Very Motivated.” The house is beautiful, 3 bedrooms/2 baths, tray ceilings, custom cabinets and the list goes on. I detail in residential, commercial, flipping, GO ZONE, etc. – Your one stop shop for real estate on the Mississippi Gulf Coast. I work very hard for my clients, dedicated to finding them exactly what they need and want. If you would like to speak to me about Mississippi Gulf Coast Real Estate opportunities – please email me at amyolier72@yahoo.com. Thank you, Amy Olier – Realtor Century 21 Bay South Realty, Inc – Biloxi, MS
Comment by Kendra Orr on 31 May 2008:
I am a realtor in Florida. I am looking for investment opportunities. I do not have clients trying to move to Mississippi.
If you have other properties, please let me know.
Comment by Kendra Orr on 31 May 2008:
I am a realtor in Florida. I am looking for investment opportunities. I do not have clients trying to move to Mississippi.
If you have other properties, please let me know.