Top Mega Teams in Mississippi – Ranked by Volume

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2022 Market Summary

Mississippi started 2022 with a total of 3,208 single-family homes on the market, with a median home price of $245,000 and an average price per square foot of $129. By the end of the year, inventory had increased to 4,798 homes on the market (+49%), with a median home price of $279,605 (+14%) and an average price per square foot of $139 (+7%).

At the start of 2022, the median days on market (DOM) was 70 days – by the end of the year, median DOM had increased to 84 days.

Mississippi started the year with 23% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 34% of Mississippi homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Mississippi started 2022 as a seller’s market, with an MAI score of 43; by the end of the year, the MAI had dropped to 30 – a balanced buyer and seller’s market.

This market summary is powered by Altos Research – click here to run a free report for your area.

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