Jackson Market Report – September 2024

Dear Neighbor,

Welcome to September & the official beginning of fall. Last week, we saw interest rates begin to fall to the lowest levels we’ve seen in years. As we head into the next few weeks, the temperatures will begin to cool…but there is speculation that the real estate market may be heating up due to the improved rates. Only time will tell.

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 Increased

In August, the median days on market for sold properties here in Jackson increased to 35 from 16 days in July. This significant increase indicates that most properties are taking weeks, rather than days, to sell.  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

Following the highest number of sales we’ve seen all year in July, August saw less than half as many sales, with just 20 properties sold.  This was the lowest number seen since February. Meanwhile, new listings for the same period increased to 68, which is the highest number all year. If these numbers continue trending in this way, we could see a shift from the seller’s market we’ve had for years now, to a buyer’s market. Now more than ever, 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

In August, the median sale price in Jackson dropped from $305k to $288k, bringing the price back in line with what we experienced in May of this year. During this same period, the median list price also decreased from $325k to $296k. As a result, we saw properties selling at 97% of their original list price, which is the highest percentage since May. 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