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Is Shannon, MS 38868 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Shannon is a buyer’s market. With about 11.2 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply11.2Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list—Sold price ÷ list price
Median days on market106Listing to accepted offer
Median price per sq ft$109▲ +15.0% vs. last year

The Shannon housing market right now

In the three months ending August 31, 2026, 0% of homes in Shannon, MS 38868 sold above their list price, the typical home went under contract in 106 days and there were 11.2 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 2 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (184 days then) and the median sale price rose 152% to $299,770. Overall, Shannon is more competitive than a year ago, so tougher for buyers.

Within Lee County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.

Run the numbers for 38868

Prefilled for 38868Can I win this house?Multiple-offer likelihood for a listing Prefilled for 38868Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Guntown 38849Seller’s market $154 /sq ftMooreville 38857Seller’s market $168 /sq ftPlantersville 38862Buyer’s market $104 /sq ftSaltillo 38866Seller’s market $148 /sq ft Browse all markets →

Towns like Shannon nearby

Find towns like Shannon in other states →
Houston, MS38851 · 20 miles away92% similarlarger West Point, MS39773 · 36 miles away89% similarlarger Baldwyn, MS38824 · 29 miles away86% similarcheaper homes ($38K less) · larger Sulligent, AL35586 · 38 miles away86% similarcheaper homes ($27K less) · older residents

Where Shannon is

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Questions about Shannon real estate

Is Shannon a buyer’s or seller’s market?

A buyer’s market: there were 11.2 months of supply in Shannon, MS 38868 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.

How fast do homes sell in Shannon?

The typical home went under contract in 106 days in the latest three months.

Do homes in Shannon sell over asking?

0% of homes sold above their original list price.

What are property taxes in Shannon?

About 0.69% of a home’s value a year in Lee County, or roughly $2,760 on a $400,000 home.

What is the median home price in Shannon?

The median sale price was $299,770 in the three months ending August 31, 2026, about $109 per square foot.

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology