High rise condo sales showing signs of recovery - WLOX.com - The News for South Mississippi

High rise condo sales showing signs of recovery

BILOXI, MS (WLOX) -

You've probably seen the signs along the coast:  Luxury condos for sale.

The high rise condominium market on the Mississippi coast has seen a lot in the past decade, going from boom to bust.

Beau View condominium in Biloxi attracts attention with waving signs and an open house. Potential buyers are often enticed by the beautiful view from these tower homes.

"The properties here range from about $250,000 on up. And that's usually for a two bedroom, two bath unit, 1400 square feet. We go as large as a three bedroom, three bath 2300 square feet," said Tashia McGinn.

McGinn has been helping market Beau View since day one in November of 2007.  After a series of ups and downs with the condo market, this year is looking decent.

"Actually, we've seen that the inventory on the gulf coast has gone down quite a bit and because of that we're seeing property values rise," she said.

Buyers of high rise condos range from retirees to young professionals to investors. They're finding the coast market rather inviting these days.

"The developers have brought their product in line with today's market. And when that happens, you see a surge of potential buyers. We have certainly had a lot of activity here at Ocean Club," said Timothy Casano with Coldwell Banker Alfonso Realty.

And while many prospective buyers are looking for a primary residence, the investment buyer is also interested.

"In today's market, it's not uncommon for someone to own more than one unit in a building. We have certainly seen that here at Ocean Club and several other developments that we handle," said Casano.

Attractive pricing on the coast is luring out of state buyers.

"Prices may not be high, but people from other states are coming in and saying, you know, you may not have the pretty blue water that we have in Destin, but I still like the view. I can see a sunrise and a set. And the price is just right," said realtor, Albert Allegue, who owns Remax by the Gulf.

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