Information on Oxford MS Real Estate Market

The city of Oxford is part of Lafayette County in the great state of Mississippi. Oxford MS is a great location to purchase real estate, because of the current downturn in the Real Estate market.

Oxford MS, was founded in 1835 and was named after the famous British university town of Oxford, boasts a population of about 20,000 residents and is home to the University of Mississippi, better known as Ole Miss. The name for the city was chosen in hopes that the US government will build a university here.

One of the most notable celebrities/athletes that attended the University of Mississippi is the 2008 Super Bowl winner Eli Manning of the New York Giants. The famous author John Grisham and William Faulkner have lived in the city of Oxford Mississippi.

In the last decade, Oxford has gone through sweeping changes in terms of new commercial and home construction. Many Oxford landmarks such as “The Hoka” and “The Gin” have been destroyed to make room for new construction, and the majority of these new constructions have been luxury condos and selling prices are typically in the 6 figures. The area surrounding the Square is considered to be the best/most expensive real estate. Homes in the square typically cost two to three times more than a similar home would cost in the rest of Oxford. Commercial rental is also considerably more expensive than a comparable sized property outside of the square.

Because of the nearby expensive “Square” buying Real Estate in Oxford MS is one of the best real estate investments one can make. Real estate prices have come down considerably because of the “credit crunch” and currently the average price of a home in Oxford MS (outside of the square) is $188,000. Because of the square, the rest of the properties in Oxford are more attractive to buyers.

Because of the location of the University of Mississippi in Oxford, the prices of homes are surely to increase as the United States economy starts to recover in the coming months/years. Don’t miss your chance at owning real estate in a great location with great prices.