Two municipalities and one community in Tate County are ranked among the top 50 areas in Mississippi with rapidly growing home prices.
The website Stacker.com compiled a list of municipalities and unincorporated communities with the fastest-growing home prices in the state using data from Zillow, an American tech real-estate marketplace company. They were ranked by the dollar change in the Zillow Home Values Index for all homes from the previous 12 months ending September 2023.
Coldwater was 17th with a typical home value of $209,925. The town had a one-year price change of +$7,142 (+3.5%) and a five-year price change of +$73,294 (+53.6%).
Senatobia was close behind at No. 18 with a typical home value of $222,320. The city had a one-year price change of +$7,094 (+3.3%) and a five-year price change of +$73,562 (+49.5%).
Sarah in western Tate County ranked 46th with a typical home value of $194,448. The unincorporated community had a one-year price change of +$2,750 (+1.4%) and a five-year price change of +$65,367 (+50.6%).
The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties.
The typical home value in the United States was $350,091 in September, 2.1% higher than the year before. Increasing mortgage rates have slowed growth, with prices even declining in some places.
But some areas are still seeing price jumps compared to the previous year. Several of those cities and towns are in close proximity to Tate County including:
• Oxford at No. 1 with a one-year price change of +$35,798 (+12.2%)
• Como at No. 31 with a one-year price change of +$4,450 (+3.1%)
• Horn Lake at No. 35 with a one-year price change of +$4,251 (+2.3%)
• Batesville at No. 38 with a one-year price change of +$4,123 (+2.4%)
• Hernando at No. 47 with a one-year price change of +$2,649 (+0.8%)
• Nesbit at No. 48 with a one-year price change of +$2,639 (+2.0%)
• Sardis at No. 49 with a one-year price change of +$2,639 (+2.0%)
