Is Jackson, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Jackson has remained a Seller's Market.
Housing Prices in Jackson, MI
How much do homes in Jackson, MI cost?
Median Sold Price
$174,976
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Jackson was $174,976 in March 2024, up 26.7% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $71.9K | $72K | 0.0% |
2 Bedrooms | $113.9K | $127K | +11.6% |
3 Bedrooms | $143.2K | $176.3K | +23.1% |
4 Bedrooms | $195K | $245K | +25.6% |
5+ Bedrooms | $215K | $279.5K | +30.0% |
Summary: Jackson housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 25.6%, and 5+ bedroom homes increased by 30%.
Median Sold Price Compared To Nearby Cities
Jackson | $138.1K | $174.9K | +26.7% |
Summit Township | $190K | $216.5K | +13.9% |
Leoni Township | $197.5K | $214.9K | +8.8% |
Blackman Charter Township | $179K | $180K | +0.6% |
Housing Supply in Jackson, MI
How many homes are available in Jackson, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
295 | 301 | +2.0% |
Summary: The Jackson real estate market had 301 homes for sale in March 2024, a 2.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 57 | 60 | +5.3% |
3 Bedrooms | 155 | 144 | -7.1% |
4 Bedrooms | 56 | 63 | +12.5% |
5+ Bedrooms | 24 | 29 | +20.8% |
Summary: The Jackson housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 5.3%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 20.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
87 | 77 | -11.5% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 77 homes were sold or pending in Jackson in March 2024, down by 11.5% month-over-month. Of the 77 sold homes, 45% were sold under asking, 30% were sold at asking, and 25% were sold over asking.
Days on Market for Jackson, MI
How long does it take to sell a home in Jackson, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
34 Days | 66 Days | +94.1% |
Summary: Homes in Jackson had an average of 66 days on market in Mar 2024, up by 94.1% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
23 Homes Were Sold
Over 90 Days
Summary: During March 2024, 77 homes were sold in Jackson; 30% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.