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Featured local agent — Shannon, MS
Sarah Mitchell
Compass Real Estate · Shannon, MS
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Shannon, MS Housing Market
The typical home in Shannon, MS is worth $171,209, rose 9.1% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $202,450 (through May 2026). With 2.5 months of supply and homes going under contract in about 58 days, Shannon is a balanced market. At today's 7.03% 30-year fixed rate, 20% down on a $171,209 home is about $914/mo in principal and interest.
Key numbers for Shannon, MS
Typical home value
$171,209
+9.1% in 12 months
Zillow, August 2026
Median sale price
$202,450
Last published period
Redfin, through March 2026
Days on market
58
Average pace
Redfin, through March 2026
Active listings
5
2.5 months of supply
Redfin, through March 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$42,208
Home costs 4.1x income
U.S. Census ACS, 2023
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Shannon a buyer's or seller's market?
Shannon, MS is a balanced market, based on 2.5 months of supply and homes selling in about 58 days. Under 4 months of supply tilts the market toward sellers: homes clear faster than they are replaced, so concessions are scarce.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Shannon housing market data show?
Every row below is Redfin's final published month for Shannon, MS. Redfin, through March 2026
| Metric | Value |
|---|---|
| Median sale price | $202,450 |
| Median list price | $250,000 |
| Median price per sq ft | $90/sq ft |
| Median days on market | 58 days |
| Active inventory | 5 listings |
| Months of supply | 2.5 months |
| Homes sold (that month) | 2 |
| New listings (that month) | 1 |
| Listings with a price cut | 80.0% |
| Market condition | Balanced market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Shannon is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Shannon is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Shannon home prices moved?
Across the 24 months we hold for Shannon, MS, the median sale price rose 45.1%, from $139,500 in May 2021 to $202,450. The live Zillow value series has rose 9.1% in the last 12 months, which is the more current read now that Redfin's series has stopped. 80.0% of Shannon listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay.
Redfin, through March 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Shannon?
Priced off the typical home value of $171,209 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $34,242 | $136,967 | $914/mo |
| 5% | $8,560 | $162,648 | $1,085/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $914, that implies roughly $39,172 a year before you add taxes and insurance. The median household in Shannon earns $42,208, about $3,036 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 4.1x — above the historical 3x norm but in line with much of the country in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Shannon in the next 12 months?
Tell us your timeline. We send the Shannon market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Shannon?
Zillow does not publish a rent index (ZORI) for Shannon, MS, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Shannon?
Active listings in Shannon, MS went from 4 in August 2023 to 5 in March 2026, a +25.0% change. Rising inventory is the single most useful leading indicator for buyers: more choice, longer marketing times, and more sellers willing to negotiate before price cuts show up in the median.
| Month | Active listings | New listings |
|---|---|---|
| September 2023 | 4 | 1 |
| October 2023 | 3 | not published |
| November 2023 | 3 | 1 |
| February 2024 | 2 | not published |
| April 2024 | 1 | 2 |
| May 2024 | 1 | 1 |
| September 2024 | 1 | 1 |
| October 2024 | 2 | 1 |
| May 2025 | 2 | not published |
| July 2025 | 3 | 1 |
| October 2025 | 3 | 1 |
| March 2026 | 5 | 1 |
Redfin, through March 2026
How does Shannon compare to Mississippi and the U.S.?
Shannon homes sell for $202,450 — 29% below the Mississippi median of $284,300. Against the national median of $410,700, Shannon runs 51% lower.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Shannon, MS | $202,450 | not published | 58 days |
| Mississippi statewide | $284,300 | +5.7% | 47 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through March 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Shannon
What buyers should watch
- Months of supply, currently 2.5. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 80.0%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $171 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $171,209 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Shannon listing goes under contract in 58 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- In the last published month Shannon added 1 new listings against 2 sales — more clearing than arriving, which is the better window to list.
- Your equity moved +9.1% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Shannon varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Shannon
There are currently 5 homes listed for sale in Shannon, Mississippi. The median listing price is $250K.
Active listings
5
Homes on market
Median list price
$250K
Avg. days on market
58
Days until sale
New this week
1
Newly listed
How much do homes cost in Shannon by property type?
How the Shannon, MS market breaks down across single-family homes, condos and townhouses. Redfin, through March 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $202,450 | $90/sq ft | 2 | 58 days |
Who lives in Shannon?
American Community Survey estimates for Shannon. U.S. Census ACS, 2023
Population
1,719
Households
729
Median income
$42,208/yr
Median age
36.6 years
Owner-occupied
67.2%
Median home value
$120,200
Median gross rent
$723/mo
Mean commute
22 min
67.2% of occupied homes in Shannon are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $120,200 against Zillow's $171,209 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which public schools serve Shannon?
4 schools tracked · 1,193 students
The largest public schools serving Shannon, MS by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
SHANNON HIGH SCHOOL
Grades 9-12 · 499 students
SHANNON PRIMARY SCHOOL
Grades PK-2 · 263 students
SHANNON ELEMENTARY SCHOOL
Grades 3-5 · 230 students
SHANNON MIDDLE SCHOOL
Grades 6-8 · 201 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Shannon, MS?
Ordered by distance from Shannon, not by size. Compare Shannon side by side with any of them.
Shannon housing market FAQ
Is Shannon a buyer's or seller's market?
Shannon, MS is currently a balanced market. That read comes from 2.5 months of supply, homes going under contract in about 58 days in the last month Redfin published (May 2026).
How much do homes cost in Shannon?
The typical home in Shannon, MS is worth $171,209 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $202,450, about $90 per square foot.
Is Shannon cheaper than the rest of Mississippi?
Shannon's median sale price of $202,450 is 29% lower than the Mississippi statewide median of $284,300, and 51% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Shannon?
Homes in Shannon, MS spent a median of 58 days on market before going under contract, versus 47 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Shannon?
At the current 30-year fixed rate of 7.03%, 20% down on a $171,209 home is about $914 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $39,172 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $42,208.
Are home prices rising in Shannon?
The typical home value in Shannon, MS rose 9.1% over the last 12 months, from $156,984 to $171,209 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Shannon?
Shannon ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Shannon?
That depends on your timeline, not on a headline. What the data says today: Shannon, MS is a balanced market with 2.5 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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