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Spring 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Ridgeland. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 601-750-9016
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| Average Home Price | $150,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 0-5% |
| Average Time on Market | 90-120 days |
| Best Selling Price Range | $100,000 - $149,000 |
| Worst Selling Price Range | $1,000,000+ |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | Decreasing |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Buyer Activity for the past 90 days in Ridgeland is | Increasing |
| Seller Activity for the past 90 days in Ridgeland is? | No Change |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | Foreclosed properties usually receive multiple offers and a few home owners receive 1 or more offers. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 10-15% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | For first time buyers, USDA loans are available on some homes in Madison County with near ’0’ down for qualified buyers. Grant funds and bond money make an FHA loan desirable for buyers with tight cash flow. |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Lower prices with good selection and competitive interest rates creates a perfect time to buy in Ridgeland! Step-up buyers with tight cash flow can now utilize grant funds or bond money with an FHA loan. |
| Nearest Metro Area | Jackson |
| Housing Hot Spots | Ridgeland and Madison are considered ’Housing Hotspots’ |
| Average Sold Price | $150,000 - View Graph Trend |
Ridgeland Local News
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
Contact Information
Susan Barrett ABR
601-750-9016
Request More Information Let me answer your questions!
Ask Me!
Blog Archives
Mortgage Rates
– May 28th, 2012 –
---------------------------------
30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
StreetZip Code
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Request More Information Let me answer your questions! Ask Me!
Susan Barrett ABR
Coldwell Banker Graham & Assoc., Inc.
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 601-750-9016
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