Jackson is the major retail area between Nashville and Memphis, says a local Realtor, and has had its share of impediments to the housing market including a recent tornado, and the war in Iraq, but sunnier days and more jobs lay ahead.
"We have all the amenities of a larger town with a small town atmosphere," says Realtor John Orr. "We are home to several large manufacturing operations, including Maytag, Procter & Gamble(Pringles), Armstrong Flooring, Delta Faucet, Porter-Cable Tools and DeVilbiss Air Power, to name a few. For enjoyment, come hear our great symphony, watch the Skyfest Hot Air Balloons, Visit the Rockabilly Hall of Fame, or take in a game with the West Tennessee Diamond Jaxx(Class AA Cub Team)."
Says Orr, "With the economic situation and the conflict in Iraq, our market suffered a bit, but seems to be on the rebound. Several new retail operations are locating in the area with new employment opportunities. Due to recent tornado damage it will take time to rebuild the downtown area once again, but the persistent attitude of Jacksonians will not be hindered.
He advises, "Sales volume based on Jackson Area Multiple Listing Service data indicate a similar market to that of last year for the same time period. The average residential sale price Year To Date is $122,795 with a median price of $103,250 with an average days on market of 123 days. This compares to last year's same data of average sales price of $100,666, median price of $89,950 and average days on market of 117. This data is based on total sales of approximately 270 in each YTD computation.
"The primary method of financing on these transactions has been conventional (50%), FHA(24%), VA(<2%), and the balance cash or other financing alternatives," says Orr. "Currently there are 490 homes on the market in the Jackson city limits with an additional 221 homes in the outlying areas of Madison County."
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Published: May 13, 2003
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