Jackson, TN - Local Housing Data - Summary

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Jackson, TN Local News

Freshest Numbers Show Prices of New Homes Increase in Jackson, Sales Decrease

Posted on: Jul 06, 2014 07:17:08 AM

In the Jackson, TN market, new home closings sank year-over-year in April, but the decline was less than the year-over-year decline in March. New home closings moved from 12 a year earlier to 6 after the figure moved from 5 in March 2013 to 2 in March 2014.

Last year, 12 of 184 total closings were new homes, and this percentage saw a decline as new home closings this year made up 6 of the 180 total closings. Closings of new and existing homes dropped year-over-year in April after also falling in March year-over-year.

Pricing and Mortgage Trends

The average new home price was $262,967, up from $171,658 a year earlier. This followed a 4.4% surge in March year-over-year.

Average mortgage size on new homes rose from $190,743 to $233,100. Average mortgage size on new homes went from $150,921 in March 2013 to $155,057 in March 2014.

Other Market Trends

There was no change in the composition of the new home market with regard to the types of properties sold in April 2014.


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