What a busy week it has been in real estate! Listings, closings, negotiations, and more of the same this weekend. So while the weekly market update is late getting to you, here it is.
The graphic above shows the closings for Hinds, Madison, and Rankin counties in Central MS for the week of July 30 - August 5. The number of closings appear on the left; median sales price, current inventory, list to sale price ratio, and supply of homes are shown on the right.
Keep in mind this is a snapshot of one weeks performance. You would want to look back at previous weeks to see the trends, and some of the prior weekly reports are shown below.
It is important to note that inventory has ticked up ever so slightly, with a supply between 1 to 1 1/2 months. This remains a strong sellers market.
I'd like to share something new today, and that's the number of pending sales in the pipeline for Central MS. Hinds County, which consists of the City of Jackson, Byram, Raymond, Clinton and Terry, has 308 PENDING sales in the pipeline. Madison County has 278 pendings, and Rankin County (Brandon, Flowood, Pearl, Florence, Richland) has 383 pending sales as of today's date. That's almost 1,000 homes waiting for new owners to move in. Homes are selling, people are buying, and interest rates are still very low.
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 previous reports: