Brandon, MS: Castlewoods ~ Market Conditions Report
September 20, 2010
As of September 20, 2010, there are 71 properties for sale in Castlewoods Subdivision, ranging in price from $79,900 to $510,000.
$100,000 - $200,000 35 homes for sale
$200,001 - $300,000 23 homes for sale
$300,001 - $400,000 10 homes for sale
$400,001 & up 2 homes for sale
Ten properties are shown as either "contingent" or "pending".
Five homes closed during the 50 days from August 1 to present; three in August, and two so far this month. Seven homes expired from the market; in other words, the market rejected their price.
Homes are staying on the market longer and home values have adjusted downward due to the decline in sales. Sales in Castlewoods reached its' peak in June, thanks primarily to the Homebuyer's Tax Credit. Fourteen homes closed in June. Since that time, the number of transactions has decreased. At the current rate of closings, it will take roughly 24 months to deplete the current housing inventory in Castlewoods.
This trend is not indicative of Castlewoods alone. In fact, these results should prove true throughout the metro Jackson area.
Certainly, we are in a buyer's market, and have been for a while. Sales do take place, even in these tough times. Buyers and sellers should look to their neighborhood expert for guidance and advice.
If you have any questions regarding this Market Conditions Report, please let me know.