2019 Jackson Annual Report

Jackson Annual Report

2019 is now over and we are excited to release our 2019 Jackson Annual Report. Understanding what’s going on in the market allows us to equip our clients to make confident, informed decisions. It also gives us an idea of what the future holds.

As 2019 information continues to pour in, we thought we’d take a look at the trends that we’ve been seeing in the national housing market overall. The most compelling shift we have seen is in housing affordability.

While home prices have increased throughout the year, the actual affordability of homes has improved due to changes in real wages and lower interest rates.

Jackson Annual Report

Low inventory continues to stifle growth in sales volume. In every region of the U.S., we are seeing year over year increases in sales based on slight increases in supply, but the low inventory has also caused the prices of homes to increase throughout the U.S.

In 2019, the Central West Tennessee market saw more than 5,300 listings with an average sales price of $153,000. Days on market for sold properties was roughly 78 days. The number of listings was slightly up from just 5,100 in 2018 with an average sales price of $144,000. The market continues to be a seller’s market, with 864 single-family homes currently available.

Jackson Annual Report

Quick Takeaways

  • Total sales increased more than 12% year-over-year across the Jackson MSA last year. Total sales were 1,996, a 12.32% increase from 2018, when there were 1,777 total sales. 
  • The median sales price in 2019 was $142,000, a 5.19% increase over 2018’s median sales price of $135,000.
  • In the Jackson MSA, average days on market dropped 21.62% to 58. Medina had the lowest average days on market within the Jackson MSA at 46 days.

Be sure to check out the full 2019 Jackson Annual Report here for more info on how the market performed last year. Have questions? Contact your Nest Broker today to find out what this report means for you and to discuss your real estate goals. Interested in what’s happening in other markets? Check out all our 2019 Annual Reports here.

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