Jackson Michigan Real Estate Market update for January 2025

As you can see in the chart above, the average home sale price in Jackson, Michigan increased by 6.1% year over year from $228k in January 2024 to $242k in January 2025. Additionally, the homes on the market have increased from a total supply of 425 homes in January 2024 to 483 homes in January 2025, which is a 13.6% increase in homes. With that increase in homes on the market, the list to sales price ratio decreased from 96% in 2024 to 94% in 2025 (meaning that buyers are typically paying 94% of the list price on average) and the days on market has increased from 45 days in 2024 to 55 days in 2025.

The increase in the number of homes available on the market has caused the Months supply of inventory to go from 3 in 2024 to 3.4 in 2025 an increase of 13.6%. This number tells us that if no new homes came on the market this is how long it would take us to sell through all of the homes on the market. A balanced real estate market tends to be between four and six months supply. When you are under that number it is usually considered a sellers market. If you are over that number it is considered a buyers market.

What the numbers don't show is how the individual listing is being impacted. Some highly desired properties are getting tons of showings and multiple offers promptly, while other listings are generating no showings and sitting for months before they simply don't sell and go off the market. The difference now more than ever, will depend on the marketing, the properties condition, desirability, and the pricing. It is not the best time to be asking for the highest price, interest rates are giving buyers pause. On the flip side, if interest rates drop, there will be the potential for prices to go up on homes. You could refinance an interest rate later, you can't make the price you decided to pay go down later. It is definitely a delicate balance these days for buyers and sellers alike.

Korey Rowlson

Associate Broker

Five Star Real Estate Leaders