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Tracy Kirkley, a top-producing real estate agent in North Mississippi and the Greater Memphis Region, has released her comprehensive report on the 2024 DeSoto County real estate market. As the #1 Crye-Leike agent, Kirkley offers valuable insights for buyers, sellers, and investors navigating the local market.
With over 22 years of experience, Kirkley provides a unique perspective on the market's trends and predictions. In 2024, DeSoto County saw steady sales with 2,682 homes sold, matching the total from 2023. Home prices increased by 1.3% for existing homes and 2.4% for new construction.
Key highlights include:
* Olive Branch: Sales volume remained flat, with a 2.1% year-over-year price increase.
* Southaven: Sales declined by 6%, with a slight increase in price per square foot.
* Hernando: Sales rose by 2%, driven by high demand and new construction.
* Horn Lake: Sales surged by 22%, driven by affordability, with an average home price of $235,000.
Kirkley forecasts a steady year ahead:
* Sales volume is expected to remain flat at 2,600-2,800 homes sold.
* Price growth is projected to increase by 2-3%.
* Interest rates will likely hover in the mid-6% - 7% range.
* Sellers are expected to offer concessions such as closing cost assistance and rate buy-downs to address affordability concerns.
"Affordability is a key challenge, especially for first-time buyers," said Kirkley. "Sellers who offer creative solutions and price their homes competitively will have an edge in this market."
As the top Crye-Leike agent, Kirkley leverages cutting-edge technology and local expertise to help buyers and sellers achieve their real estate goals. With over two decades of experience, she is a trusted resource for navigating the changing market.
