Is Jackson, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Jackson is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Jackson was a Buyer's Market.

Key Takeaway

Jackson is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Jackson, TN

How much do homes in Jackson, TN cost?

Median Sold Price

$189,000

$77/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

-$109,000(-36.6%)

Key Takeaway

Homes in Jackson have sold for 36.6% less than they did a month ago.

Summary: The median home sold price in Jackson was $189,000 in May 2024, down 36.6% from last month, and the median price per square foot was $77.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 -$30K
N/A
3 $215K$189K
-12.1%
4 $346K$301.5K
-12.9%
5+ -$1.6M
N/A

Summary: Jackson housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 12.1%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes did not change.

Housing Supply in Jackson, TN

How many homes are available in Jackson, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5661+8.9%

Summary: The Jackson real estate market had 61 homes for sale in May 2024, a 8.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 810
+25.0%
3 2326
+13.0%
4 1412
-14.3%
5+ 1113
+18.2%

Summary: The Jackson housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 13%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 18.2%.

Number of Homes Sold

Apr 2024May 2024CHANGE
711+57.1%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Jackson, you may be able to get a good deal. 90.9% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Jackson in May 2024, up by 57.1% month-over-month. Of the 11 sold homes, 91% were sold under asking, 9% were sold at asking, and 0% were sold over asking.

Days on Market for Jackson, TN

How long does it take to sell a home in Jackson, TN?

Average Sale Time

Apr 2024May 2024CHANGE
87 Days30 Days-65.5%

Summary: Homes in Jackson had an average of 30 days on market in May 2024, down by 65.5% compared to last month.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Jackson are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 11 homes were sold in Jackson; 64% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Jackson, TN

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