Central MS Market Snapshot as of July 22, 2021

By
Real Estate Agent with Front Gate Real Estate Broker 11085

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:

Third Week of June, 2021

Fourth Week of June 2021

First Week of July, 2021

Second Week of July, 2021

 

Comments (6)

Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

With the levels of inventories being so low, sellers can expect to sell quickly and get a good price for their homes as well, provided they have made it attractive for buyers

Jul 28, 2021 07:16 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Pat - those numbers and your explanation tells the story of razor thin inventory.

Jul 29, 2021 03:51 AM
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Pat

First time I seen your market reports. They are good and I am sure your readers enjoy them, cheers cvc

Jul 29, 2021 08:26 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Pat... we are seeing the same here for quite some time now... less than on month's worth of inventory. I've probably said it before, but will say it again... love you graphic.

Jul 29, 2021 09:42 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Pat Starnes-Front Gate Realty this is great information for both Buyers and Sellers in your area.  I love the infographic.

Jul 29, 2021 02:41 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Pat, excellent market update for Central MS, and shows you know exactly what is happening in this market.

Aug 03, 2021 01:17 PM