Jackson Market Report – July 2023

It has been an eventful summer in the Jackson real estate market. Here are some of the trends I’ve observed over the last month:

Days on Market have Decreased Again

In June, the median days on market for sold homes in Jackson dropped for the 2^nd straight month, to just 12 days. While this is still a year-over-year increase from 6 days in June 2022, the gap is quickly closing.  The ongoing inventory shortage continues to put pressure on home buyers to act quickly when properties come available, and the steady decrease we’re seeing in median days on market is evidence of this. Limited inventory & decreasing days on market provide an opportunity for sellers with a strategic marketing & pricing plan to maximize their sale price and sell in the fewest days possible.

Number of Properties Sold has Decreased

Just 36 homes sold during the month of June 2023, here in Jackson. This is ten fewer than were sold in June 2022, and a month-over-month decrease of three.  Coincidentally, only 36 new listings came on the market in Jackson during the same time period, compared to 69 new listings in June 2022.  As supply remains low, those who chose to list their home can maximize their sale price by properly pricing and positioning the property to stand out in the market.

Median Sale Price has Increased

Following last month’s skewed median price data, June’s median sale price has increased to $280k, which is in line with the numbers we were seeing earlier in the year. This is also up slightly year-over-year from $279k in June 2022.  It is also interesting to note that the median list price for June 2023 was also $280k, resulting in a sales-to-list price ratio of 100%. This ratio is actually up year-over-year from 98% in June 2022, showing that the market is still strong for sellers.

What to Expect When Selling Your Home

The real estate market is always changing—and you deserve to maximize your home sale no matter what. A proven marketing plan, data-driven pricing strategy, and detailed transaction management process are all necessary to maximize your home sale without unnecessary stress and worry.

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