Jackson Market Report – May 2023

The spring real estate market is here, but it’s unlike any we’ve seen before. Buyer activity picking back up, properties are spending more time on the market, prices are still trending upward, but total closed sales are down. Read on for details about what I’m seeing here in the Jackson market right now.

Days on Market are Increasing Again

In April we saw the median days on market for sold properties in Jackson increase slightly to 28, up from the 25 days on market we saw in March. In the 1^st quarter of this year, we’ve seen days on market holding steady in the 20s, which is significantly longer than the single digit days on market we experienced in the 1^st quarter of 2022. As days on market continue to trend upward, it is increasingly important to have a strategic pricing and marketing plan in place to ensure your home sells for top dollar in the fewest days on market.

Number of Properties Sold is Declining

In April 2023, just 24 properties sold in the Jackson market during the month, which is down significantly from 37 sold in March 2023 and only half the number of properties that were sold in April of 2022.  This is due in large part to the shortage of new properties coming on the market. This year, we saw only 34 new listings come on the market in Jackson for the month of April, which is less than half of the 81 new listings we saw in April 2022. Last month it appeared that listings were beginning to pick up for the spring selling season, but these new numbers show us that is not currently the case. As supply remains low, it provides an opportunity to maximize your sale price by properly pricing and positioning your property to stand out in the market. 

Sale Prices have Increased Again

The median sale price in Jackson rose to $295k in April 2023, which is the highest median price we’ve seen all year. This is also a year over year increase from the median sale price of $269k in April 2022. Decreased supply is putting upward pressure on prices, even though properties are taking longer to sell. In this environment, it is increasingly important to make sure you’re using a data driven pricing strategy to ensure your property sells for the best possible price, getting you the return on investment you deserve.

As a homeowner, what does this mean for you?

If you’re thinking about selling in the next 12 months, now is the time to start preparing for market.

Yes, real estate transactions can be complicated. But they don’t have to feel that way. When we work together, I use a proven system to get you from consultation to closing without unnecessary stress & worry. You deserve an agent who thoroughly understands your unique needs and can confidently guide you seamlessly through your real estate transaction—so you can focus on living your life!

This is why my clients have trusted me to guide them through their biggest financial transactions since 2013. My step-by-step process has been carefully developed to get you the best price, within your ideal timeline, with the least amount of stress.

If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 770-630-8394

We will talk in detail about your goals and my proven strategy for getting you the best price within your ideal timeframe, and with the least amount of stress.

Call Today → 770-630-8394