Jackson Market Report – June 2024

We’re well into June & I hope your summer is off to a great start!

Our homes serve us well over the years, but as life changes, you might decide it’s time to move. The idea of moving into the home that fits your lifestyle now sounds appealing. But first, you know you want to maximize your sale price.

You’ve put too much into your home over the years to leave money on the table. As you consider selling, you deserve insight and guidance from an expert in your local market. Here are the top things to know about the Jackson area real estate market right now:

Days on Market have Decreased

In May, we saw the median days on market for sold homes cut in half, decreasing from 43 days to just 21. Even so, it’s important to keep in mind that this is simply the median. While half of the homes sold in May spent fewer than 21 days on market, the other half lingered longer. As the pace of sales has slowed down from the fever pitch we experienced when interest rates were low, it is becoming increasingly important for sellers to have the right strategy in place to prepare, price, and position their home in order to attract buyers’ attention and sell quickly.

Number of Properties Sold has Increased

There were 38 closed sales in May, an increase of just 1 from 37 closed sales in April. During this same time period, we also saw the total number of available properties decrease by 5.  With fewer available properties, buyers’ choices remain limited. However, ongoing challenges with affordability for buyers is impacting demand as well.  In the current market, sellers should focus on making sure they’re working with a professional that knows the local market and will ensure their home is positioned in a way that reaches and appeals to as many potential buyers as possible.

Median Sale Price has Decreased

With increased pressures from interest rates and inflation, May brought a decrease in the median sale price. Last month, the median sale price in Jackson decreased to $288k from $295k the month before. This median sale price reflected 98% of seller’s asking prices, suggesting that lower initial pricing resulted in sales prices close to asking price. It’s important for sellers to work with an agent who is monitoring these shifts, so they can set the right price from the start and maximize sales price while minimizing days on market.

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