Jackson Market Report – November 2023

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 October, the median days on market for sold homes in Jackson decreased to 11. This is a slight month-over-month decrease, as well as a more significant year-over-year decrease. As median days on market trend downward, sellers who have a strategic pricing and marketing plan are still in the best position to maximize the return on their investment in their homes.

Number of Properties Sold has Increased

Jackson had 22 closed home sales in October, which is an increase from the multi-year low of 14 we experienced in September. However, this is still a significant decrease when compared to August of this year. New listings were up as well month-over-month, but also not as high as in August. As inventory remains low, it offers the opportunity for properly positioned homes to stand out among the competition to attract the most buyers and sell quickly for top dollar.

Median Sale Price has Decreased

The median sale price for October 2023 in Jackson was $282K, which was a month-over-month decrease from the median of $320k in September. Although September’s median was the highest we’ve seen all year, our October numbers are more in line with previous months and reflect a modest increase when compared with August. With prices not showing a consistent trend in one directions or another, it’s important for sellers to keep informed of these shifts and have a strategic marketing plan to maximize their sale price and sell in the fewest days possible.