Jackson Market Report – August 2024

Can you believe that summer break is officially over & the kids have already headed back to school? Even though the weather definitely doesn’t feel like fall yet, we’re all starting to shift into our fall routines. With this fall transition, I tend to get a lot of questions from homeowners considering a move & wondering if they should wait to list until spring. My answer? Not necessarily. Spring/Summer may historically be the time that most people consider moving, but it’s not always the best time to sell. This year, for example, there was a spring/summer slowdown largely due to inflation & interest rates. In fact, I sold more homes from January-March than any other time so far this year.

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 July, the median days on market for sold properties here in Jackson decreased to 16 from 18 days in June. Likewise, the average days on market for all available properties (those that haven’t sold yet) decreased as well from 61 to 56. Although these decreases were both slight, if this trend were to continue, it could signal a shift toward a more competitive environment for buyers.  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 Increased

After the sharp decrease we saw in sales in June, the number of closed sales in July was the highest we’ve seen all year. Meanwhile, the total number of active listings remained fairly consistent with what we’ve seen in recent months. Increasing sales when combined with flat inventory is another factor that could prove beneficial for sellers.  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

In July, we saw the median sale price in Jackson increase (by $500) month over month. This marks the 3^rd month in a row where prices have increased. However, when paired with the median original list price for the same period (which increased by $5k), we saw the sale to list price ratio drop by 1%.  This indicates that many properties are being overpriced, as sellers anticipate prices rising more substantially than they actually are. 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

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