First Quarter 2022: Brisk Sales in Rankin - Madison County MS

By
Real Estate Agent with Front Gate Real Estate Broker 11085

We all know it is a strong sellers market. Rates are great, homes are selling like hotcakes, and buyers are throwing money at sellers hand over fist. 

Inventory nationwide is low, and that is true in Central MS as well. I reviewed our local Multiple Listing Service (MLS) this morning and was inspired to share this data.

Let's talk statistics.

 

Rankin County, MS includes the cities of Brandon, Flowood, Pearl, Richland, Florence, Pelahatchie and Puckett. 158 homes are currently available for sale and priced between $98,000 to $4 million. The median price for sale is $388,000. The number of homes priced below $500,000 is 120. Homes priced between $500k to $700k is 32. Homes priced under $250,000? 29 properties for the entire county. 312 properties are "pending closing", while 496 homes have closed in the First Quarter of 2022.

Rankin County, MS Closed Sales, First Quarter 2022

Rankin County Closed Sales first quarter 2022

As of this morning, Madison County MS, which includes Ridgeland, Madison, Canton and Flora, had 139 listings, ranging in price from $65,000 (a true fixer-upper) to $2.9 million dollars. 67 of these homes are priced below $500,000; 21 properties are between $500K - $700K; the rest are over $700,000. 200 homes are "pending closing" in Madison today, while 340 properties have closed year to date (First Quarter).

Madison County, MS Closed Sales, First Quarter 2022

Madison Co MS Closed Sales First Quarter 2022

Homes are closing on AVERAGE at 100%, but that doesn't mean you can offer full list price and win the home. Many homes are closing well over list price, as you can see in the charts above.

When you compare the available homes currently for sale with the number of pending sales and closed sales, you'll see that there is virtually no inventory, an extreme shortage of homes for sale, and homes selling in multiple offer situations.

If you are buying or selling ANYWHERE, you must have a strategy. There are ways to position your home for sale to maximize your profits, and there are ways to make your offer to purchase attractive to stand out against all others. In this strong sellers market, with high demand and low inventory, you need a qualified, experienced Realtor more than ever. Do not attempt to go it alone. You need a Realtor's guidance and advice now more than ever, whether buying OR selling.

Comments (5)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Pat - you have a variety here.  Looks good and buyers should set their strategy with you.

Apr 04, 2022 10:33 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Pat this is a crazy Sellers Market.  Around here homes are selling as soon as they hit the market for well over the listing price.

Apr 04, 2022 10:54 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Pat Starnes-Front Gate Realty  Inventory is scarce all over .Buyers and sellers would be wise to work with you .

Apr 04, 2022 11:11 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Hi Pat,
Thank you for sharing the Rankin / Madison County real estate information.
Buyers and sellers in your area will benefit from your expertise.
Wishing you continued success.
Bob

Apr 04, 2022 09:59 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Rankin home buyers and sellers are sure to value your real estate market report, Pat.

May 04, 2022 06:05 AM