Wow! The Oxford Mississippi real estate market is definitely heating back up. We (Brokers & Property Owners) can take a deep breathe of relief as the Spring rolls upon us and contracts start procuring.
Disregard what the national news headlines read and understand that there is no such thing as a ‘National Market.' All real estate markets are local, and thank The Lord for Ole Miss and the rapid growth of the Oxford, MS area. I feel that a good way to judge the growth (health) of Oxford is to stay in tune with what the University of Mississippi's game plan is.
The University is building the largest dorm they have ever built, that will incorporate student and professor living all in the same building, the Ole Miss Rebels basketball team is building a state of the art practice facility to go along with the all ready unbelievable football practice facility, the University has also just completed the major additions to the Alumni hotel just off of the coveted Grove, not to mention the award winning Law School that is projected to be completed in the next year or so.
With all of the growth of the University, it is hard to image that the University does not have major expansion and admission expansion plans.
Re/Max Legacy, my new home, has closed nearly 20% up compared to January 2008. With the phones starting to ring and internet traffic steadily picking up, it is going to be hard not to believe that the Spring of 2009 will be much better than that of 2008.
For all of you interested or (thinking about getting interested) buyers out there, please go to www.OleMissRealEstate.com to view free pictures and mortgage calculations on all properties in the Oxford MS MLS database.