Rankin County Market Report

Market Report for Rankin County

Reservoir

Flowood & Pearl

Crossgates & Brandon

Richland & Florence

-For the four areas of Rankin County we see a drop from one year ago in the number of new listings.

-We see a significant drop from one year ago in the average list price and average sales price.

-Mixed results in the number of houses that are pending. Reservoir saw a decrease, Flowood/Pearl and Richland/Florence are about the same, and Crossgates/Brandon actually increased.

-The decreases in the pending list prices from one year ago are not as severe as the decreases in new list price. This shows that the houses are being prices more realistically on the front end.

-Number of houses closed is also mixed with some areas up from this time last year, some about the same and some down.

-The ratio of sales price to list price has not changed very much.

-Average Days on Market has increased significantly for all areas except Richland and Florence.

      We are definitely in a down market and if you do not have do sell right now it may be in your best interest to sit tight for a while. However, often times we have not real choice or perhaps the benefits of moving out way the potential lose. If you do need to sell it is more important than ever that you find a quality Realtor to help you though the process. Even in this slow market homes that are well maintained, clean, properly staged, and price right are still selling quickly. There are buyers out there but they have more options right now and they do not have to accept some of the things they had to a year ago. Find a quality realtor to make sure your house wins both the beauty contest and the price contest.