FOR IMMEDIATE RELEASE
Nita Wingard
601-948-1332 ext. 12
[email protected]
04/10/15
February 2015 Residential Real Estate Market Report
New Listings in the Jackson Region increased 7.6 percent to 653 units.
JACKSON, MS (April 10, 2015)-- Home sales are widely expected to increase this spring. New Listings in the Jackson region increased 7.6 percent to 653. At the same time, prices continued to gain traction. The Median Sales Price increased 2.3 percent to $153,500. February Pending Sales were down 32.0 percent to 289. The good news for sellers is that inventory levels fell 8.6 percent to 2,984 units yielding a 7.0 month supply of inventory. Even better, Days on Market were down 0.7 percent to 113 days and the percent of list price received is up to 95.5 percent. That marks a 1.2 increase from this same, date last year!
In national news, Federal Reserve Chair Janet Yellen prepares to raise interest rates for the first time since 2006. A drastic change is not on the immediate horizon and the pace of increase should depend on how markets react to the initial moves.
Here's a snapshot YTD overview of the Jackson Metro Area:
| County |
New Listings YTD |
Closed Sales YTD |
Median Sales Prices YTD |
Inventory |
Months Supply |
| Hinds |
445 |
187 |
$94,865 |
1,145 |
8.2 |
| Madison |
351 |
138 |
$221,500 |
764 |
6.8 |
| Rankin |
392 |
198 |
$157,000 |
772 |
5.1 |
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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