August and September 2021 have been a whirlwind of real estate activity. Many of you enjoy Central Mississippi's weekly report, so I am sharing the stats so you can tell at a glance how the month of August shaped up.
The graph shows the number of listings taken each week per county, the number of closings, median sales price, and list to sale ratios.
Also shown is the supply of homes on the market for sale, the "inventory", and if no other homes came on the market, the "supply" of homes before we are completely sold out.
Inventory changes constantly. Realtors check the hotsheet daily to see what new listings are available. It isn't unusual for a home to sell the first day with multiple offers.
If a buyer says they can only look on the weekend, but a new listing hits the market on Tuesday, I encourage them to meet me after work or take a long lunch break, if possible.
August numbers remain strong, with low inventory and a low supply of homes.
The volume of closings increase the last two weeks of the month. Many homeowners decide to schedule their closings toward the end of any given month, in part due to daily interest being collected from the date of closing til the end of the month.
In Madison County, 229 homes are currently under contract awaiting closing. Hinds County has 291 pending sales, and Rankin County has 372 sales in the pipeline awaiting closing.
Interest rates remain low and it continues to be a good time to buy or sell.
If I can be of assistance, please reach out to me.