McComb, MS, Residential Real Estate Market Report for August 2009

By
Real Estate Agent with Latter & Blum Hometown Realty ERA Powered Licensed in MS.

McComb, MS, Residential Real Estate Market Report for August 2009*

For the period August 1-31, 2009, seven homes were sold in McComb. During this same period there were 28 homes put on the market (four times as many new listings as homes sold!). At the time of this writing there are 138 residential listings. This means that we have a 19.7-month inventory of homes for sale. (Please see my most recent blog about the state of the market in McComb, Pike County, SW MS. Because of the ratio used to figure the number of months of inventory—number of active listings divided by number of homes sold in one month--when only a few houses are being sold, the number of months of inventory can change by several months even when the number of active listings stays the same.) We are aiming for a six months’ supply of homes for a healthy, balanced market. To do this, we need people to buy, buy, buy! Also of note, the average number of days on market of the sold homes was 296 days (about 9.87 months). Note that this statistic is only for homes that have sold during this time period—there are several homes still listed that have been on the market for over a year.

 Right now is a great time to buy a home! Why?

1. There are so many homes on the market in our area, you have, as they say, the pick of the litter! With so many homes to choose from, the chances are great that you will find one that very closely meets your needs and desires, whereas in a seller’s market, the pickings are slim, and if you really need to make a move, you may not be satisfied with what you can find!

2. Interest rates are at or near historic lows—visit Bankrate.com. Buy now before the rates rise again, and you may save many thousands of dollars over the life of your loan!

3. Because of the competition among sellers, prices are lower now than in a seller’s market. Buy now before prices rise again!

4. Because so many homes have been on the market for quite a while, many sellers who really need to sell may be willing to offer concessions they wouldn’t normally offer, such as help with closing costs. It never hurts to ask!

5. Regardless of what the stock market has done, home ownership is still the #1 way to build wealth over the long term. Real estate has delivered the most consistent positive return over any investment over the past 40 years. Did you know that 60% of the average homeowner’s total wealth comes from their home equity?!

Make Your Move with Morgan!

*Statistics are based on reports from the Southwest Mississippi Board of Realtors Multiple Listing Service, and are deemed to be correct, but are not guaranteed.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the robot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
ActiveRain Community
Location:
Mississippi Pike County
Groups:
City & State: Listings and Market Reports
Tags:
mccomb ms
pike county ms
southwest ms
residential
listings
market report
buy
home
real estate

Comments 2 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tag to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Ambassador
534,129
Frank Rubi
Homes for Sale Metairie, La.
Frank Rubi Real Estate, LLC.

Tom, thanks for sharing your market report. Interesting numbers on the inventory side. Keep us up on your trends.

September 04, 2009 10:30 AM
Rainer
33,939
Thomas "Tommy" Morgan
Latter & Blum Hometown Realty ERA Powered
Latter & Blum Hometown Realty ERA Powered Licensed in MS.

Thanks, Frank--I will definitely keep you in mind if I have clients wanting to make a move down your way!

March 08, 2010 12:29 PM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the camera to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
33,939

Thomas "Tommy" Morgan

Latter & Blum Hometown Realty ERA Powered
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pencil to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

real estate agent's blog. McComb, Mississippi, Pike County, Amite County, Walthall County, Lincoln County, Southwest Mississippi, SW MS, Summit, Magnolia, Tylertown, Brookhaven, Liberty, real estate, homes and land for sale.



Enter your Email


Preview | Powered by FeedBlitz

Clicky Web Analytics

Clicky