Mississippi Real Estate Market May 2022: Forecasts + Trends

Mississippi real estate trends (May 2022)

How is the real estate market in Mississippi?
🏠 Average home value: $163,052	📈 0.50% home value increase month over month
💰 Median sale price: $261,900	⏳ 51 days on the market
🔑 Homes on the market: 5,571	📆 1.7 months of housing inventory
🏦 30-year mortgage rate: 5.66000%	💵 Average income: 46511
State of the market: C+
Sale prices of homes in Mississippi are much higher than their values, but inventory in the state is starting to swell. This may be a sign of a market that’s cooling off.
_{Data last updated May 2022}*

Nicknamed the Magnolia State, Mississippi is known for its hospitality, catfish, and blues music — a perfect recipe for a good time.

Throughout the years, it's also been home to some of America's most famous celebrities, including Oprah Winfrey, Jim Henson, and Elvis Presley. Today, residents enjoy Mississippi's small towns, such as Ocean Springs and Greenville, as well as bigger cities such as Jackson, Southport, and Southaven.

The state has a humid, subtropical climate, with mild winters and hot summers that support its booming agriculture industry year-round.

If you're thinking of buying or selling in Mississippi, these Mississippi housing predictions and stats can help you make an informed decision.

Want to save money when you buy or sell your home? With Clever, you'll only pay 1.5% or $3K in listing fees. Eligible buyers get cash back after closing. Find out how much you can save with Clever today!

Selling a home in Mississippi

Mississippi real estate market forecast for sellers
⏰ Homes are selling 14 days slower than the annual average	💰 Homes are selling for $25,046 more than the annual average
💸 Average listing commission: 2.72%	💸 Average buyer's commission: 2.72%

How to sell a home in Mississippi

Cost to sell a home in Mississippi

Buying a home in Mississippi

How much home you can buy with $300,000 in...
🏠 Jackson: 1,370 sq ft	🏡 Hattiesburg: 2,256 sq ft
🏡 Gulfport: #DIV/0! sq ft	🏠 Tupelo: 2,521 sq ft

Investing in Mississippi real estate

Best of Mississippi

Each month, we compare locations in Mississippi based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.

Happiest Counties in Mississippi
1. Madison County
2. Rankin County
3. DeSoto County
4. Jackson County
5. Lafayette County

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Worst of Mississippi

Each month, we compare locations in Mississippi based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.

Least Happy Counties in Mississippi
1. Jefferson County
2. Holmes County
3. Humphreys County
4. Issaquena County
5. Claiborne County

Mississippi resources

Frequently asked questions about Mississippi real estate

It is currently a seller’s market in Mississippi, but it’s starting to cool off. Although homes are selling for much higher than expected, the high interest rates in the state are causing demand to dip. However, each city and town is different, so consult with a local real estate agent to get a better understanding of your area’s market.

Mississippi is a good place to invest in real estate, especially in bigger cities like Jackson and Gulfport, where people are always looking for housing. However, to maximize your investment, you first need to learn what types of properties are profitable and which neighborhoods to buy in. Read our guide on investing in real estate to learn more.

For most people, now might not be the best time to buy a house in Mississippii. Although properties are a bit more affordable here than in most other states, the limited options and high interest rates are causing costs to rack up. If you’re still determined to buy, then work with a good real estate agent to help you get the perfect home for your budget.

Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

Mississippi Real Estate Market in 2022: Forecasts + Trends