The Oxford Mississippi housing market is hot right now.
Buyers consist of first-time homebuyers, parents purchasing condos for their college students housing needs, and Ole Miss football fans who want a place to stay in the fall during the games. There are also families that just want a bigger home, rental property investors, homeowners who want to downsize, and workers relocating to the area for a new job.
Between 2013 and 2014, Oxford and Lafayette County was ranked the 15th fastest growing “micropolitan” area in the U.S., by the Census Bureau. And it is the fastest growing part of the state of Mississippi.
So many people are moving here or want to buy a place to stay when they visit. But we have a shortage of homes available leaving buyers scrambling to purchase what they can and what they need. With this comes even higher prices for housing (law of suppy and demand). I often hear renters and first-time buyers complain about the cost of housing. “There is no affordable housing in Oxford,” they say. Well, there is, but it gets snatched up so quickly when it comes on the market leaving wannabe first-time homebuyers scratching their heads.
My suggestion for those that want to purchase a home in Oxford is to be prepared: get your finances in order, have a plan, get a pre-qualification from your bank so you know how much you can borrow and in what price range you can search. Once you are on top of the money process, find a real estate agent to help you. Start a relationship with a local agent who will then know what you want, how much you can spend and how quickly you can jump on making an offer. In this market, if you take your time searching the internet and then have to find an agent to get the ball rolling, you might miss the opportunity.
So what do bunnies have to do with real estate? They represent homebuyers hopping on housing opportunities as fast as they can. Be a bunny!
Eileen Saunders, Realtor with Tommy Morgan Realtors~2092 Old Taylor Road, Oxford, MS 38655~662-404-0816, 662-234-5344. Equal Housing.
2015 Tommy Morgan Realtors Top Producer
2015 Tommy Morgan Realtors Multi-Million Dollar Producer