The statistics are in for the 3rd week of July, 2021. You may wonder how this data affects you if you are looking to buy or sell a home in Central MS. Let's see what the numbers mean.
Our primary market area is Hinds, Rankin, and Madison County. You can review the stats for the particular area you are interested in. While I'm not a math wiz (and you may not be either), the numbers are revealing.
Compare the number of closings vs the number of new listings. In each case, the weekly closings exceed the number of new listings. This tells me homes are selling as fast as they hit the market.
Look at the supply of homes. There is less than one months inventory. This equates to a strong sellers market with low inventory, homes that sell fast with multiple offers, at list price or above.
I must stress the importance of hiring a Realtor to represent you in a sellers market. While homes are selling quickly, an experienced Realtor knows how to maximize your exposure while maximizing your bottom line.
If you have questions about the real estate market in Central MS, feel free to reach out. I'm happy to help.
You may enjoy the previous weekly reports: