Mississippi real estate trends (May 2022)
How is the real estate market in Mississippi?
🏠 Average home value: $161,162
📈 1.21% home value increase month over month
💰 Median sale price: $236,000
⏳ 57 days on the market
🔑 Homes on the market: 3,372
📆 0.8 months of housing inventory
🏦 30-year mortgage rate: 3.22%
💵 Average income: $71,306
State of the market: C+
Home values in Mississippi are very affordable — but interest rates are some of the highest in the country. This has decreased the number of buyers looking for homes and increased time on market, so sellers should be patient.
*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% or $3K in listing fees. Eligible buyers get 0.5% 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 5 days faster than the annual average
💰 Homes are selling for $10,100 more than the annual average
💸 Average listing commission: 2.80%
💸 Average buyer's commission: 2.80%
How to sell a home in Mississippi
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in Mississippi (June 2021 Rankings)
- 8 Steps to Selling a House in Mississippi
- How to Sell a House By Owner in Mississippi (2021 Update)
- 3 Best Mississippi Flat-Fee MLS Companies in 2021
- 5 Mississippi We Buy Houses for Cash Companies & Alternatives (2021 Rankings)
Cost to sell a home in Mississippi
- The Average Mississippi Real Estate Commission (2021)
- The Ultimate Guide to Mississippi Real Estate Taxes
Buying a home in Mississippi
How much home you can buy with $300,000 in...
🏠 Jackson: 1,389 sq ft
🏡 Hattiesburg: 2,564 sq ft
🏡 Gulfport: 2,158 sq ft
🏠 Tupelo: 2,655 sq ft
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in Mississippi
- The Best Time to Buy a House in Mississippi
- Everything You Need to Know About Moving to Mississippi
Investing in Mississippi real estate
- Top 5 Best Real Estate Investment Markets in Mississippi
- The Ultimate Guide to Flipping Houses in Mississippi
- A Beginner's Guide to Buying an Apartment Building
Best of Mississippi
Each month, we compare cities in Mississippi based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.
Most Affordable Cities in Mississippi
Worst of Mississippi
Each month, we compare cities in Mississippi based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.
Least Affordable Cities in Mississippi
- Mississippi Real Estate Commission
- Mississippi's real estate license verification
- Mississippi's real estate agent code of conduct
- Mississippi's disclosure forms
- Transfer taxes in Mississippi
- Home buying assistance programs in Mississippi
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.
Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, S&P Global, 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.