Natchez Real Estate Market Still Booming, Realtors Say – Mississippi’s Best Community Newspaper

NATCHEZ — Natchez real estate agent Janice Easom said last year she got him in.

“I sold 134 houses last year. I usually sell between 80 and 90 a year. Do not mistake yourself. I’m not complaining,” said Easom, who works at Paul Green and Associates Realtors, is a top real estate salesperson in the Natchez area.

Sue Stedman

Janice Easom

Despite inflation and rising interest rates, the housing market here is still strong, she said.

“Rising interest rates have slowed things down a bit. Some people can’t qualify now when they would have a year ago. However, that didn’t slow things down much. A few years ago, we had an inventory of about 600 houses. Now our inventory is reduced to between 200 and 300 properties.

Who buys? Easom said Natchez is seeing a huge influx of people from out of state.

“These are people who can work from home,” she said. These new Natchez residents are looking for smaller communities and a lower cost of living.

Sue Stedman, Realtor, Broker and Owner at Crye-Leike Stedman Realty in Natchez, is also a top salesperson and expert in commercial and residential real estate in the Natchez area. She agrees that the real estate market in Natchez continues to be healthy.

Stedman’s housing market numbers in Adams County alone are lower than Easom’s

“I pull numbers every week and in Adams County we have less than 100 homes on the market,” Stedman said. “And in the area that we consider downtown, there are only 27 or 28 homes on the market.”

Stedman also said many of those who buy homes in Natchez move from elsewhere.

“People who want to move here – and some of them are older – are leaving high-density urban areas that are becoming so overcrowded. And COVID has had a huge effect on people in those urban areas. They couldn’t get through their door. It was a different situation here and I think people realize that not being in such densely populated areas is not so bad,” she said.

Interest rate hikes have now halted home sales here, Stedman said.

“It may have slowed down a bit, but what happens is that when interest rates go up, it forces people to buy a cheaper house. Some of these real estate agents don’t remember when the interest rates were at 18 and 19%. People were still buying houses, but not as many houses,” she said.

The problem she sees with the Adams County real estate market right now is a lack of inventory, Stedman said.

“It’s so low. Of the 100 homes on the market, 55 or 60 are priced at $200,000 or less. People are in this market all the time, but when you look at what an average family is looking for, it’s homes between $250,000 and $350,000. These houses are quite difficult to find at the moment. If you have a nice house and it comes on the market and is priced right, it doesn’t last a week.

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