FOR IMMEDIATE RELEASE
Nita Wingard
601-948-1332 ext. 12
[email protected]
04/17/15
March 2015 Residential Real Estate Market Report
Median Sales Prices increase by 17.1 percent reaching $164,000
 Jackson, MS (April 17, 2015)
Spring home sellers be encouraged as new listings, pending sales and inventory are all down. New listings in the Jackson region were down 2.3 percent to 755. Pending sales were down to 329 and inventory fell to 7.2 months. These stats indicate bidding wars maybe on the horizon.
Historically, employment driving homebuyer activity is a key indicator for the residential real estate market. According to the Bureau of Labor and Statistics, over the year, unemployment rates and the number of unemployed persons were down and Mississippi payrolls have increased the largest percent in three years. With that, it's widely expected that mortgage rates will remain low through the first two quarters of the year.
Median Sales Prices continued to shift upward reaching $164,000 -- an increase of 17.1 percent. At the same time, days on market decreased to 99 days. It's the right time to sell your home!
Here's a YTD snapshot of Hinds, Madison & Rankin Counties:
| County |
New Listings YTD |
Closed Sales YTD |
Median Sales Prices YTD |
Inventory |
Months Supply |
| Hinds |
719 |
341 |
$105,000 |
1,166 |
8.3 |
| Madison |
547 |
263 |
$224,000 |
782 |
6.9 |
| Rankin |
631 |
340 |
$163,000 |
814 |
5.6 |
About Central Mississippi MLS, Inc.
Central Mississippi MLS Inc. and Central Mississippi REALTORS? represent the largest real estate association in the state of Mississippi serving more than 1500 licensed real estate professionals across ten counties of Central Mississippi (Hinds, Madison, Rankin, Yazoo, Holmes, Attala, Leake, Scott, Simpson and Copiah). To learn more, visit centralmsrealtors.org, or call 601.948.1332.
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