Jackson Market Report – July 2024

We’ve made it to the heart of summer & the summer heat is in full swing. The year is halfway over, and if you’re hoping to make a move this year, it could be time to stop waiting for the perfect time and start putting a plan into action.

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

Over the past 3 months, median days on market for sold properties in Jackson have been steadily decreasing. From 43 days in April, to 21 in May, and just 18 days in June. In contrast, the average days on market for all available properties (those that haven’t sold yet) has been steadily increasing during that same time. As interest rates and prices both remain high, buyers are being more selective overall.  This highlights the importance of sellers having 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 Decreased

April and May both showed small increases in the number of homes sold here in Jackson. However, there was a sharp decrease in sales for the month of June. Meanwhile, the total number of available properties decreased slightly in each of the last 3 months. The number of new properties coming onto the market is trending downward as well. However, ongoing challenges with affordability for buyers is impacting demand too.  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 Increased

Despite the sharp decrease in the number of properties sold in June, those that did sell sold at the highest median price we’ve seen all year. For the 1^st time since November 2023, we saw the median sale price exceed $300k, coming in at $304,500. This median sale price reflects 95% of sellers’ asking prices for that period, suggesting that fewer buyers are making full-price offers on properties. It’s important for sellers to work with an agent who is monitoring these shifts to set appropriate prices and expectations from the start to 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