Welcome to this month’s Memphis, Tennessee, real estate market report. Let’s take a look if there are more sales from this month.
Are you looking for a home to buy in Memphis, Tennessee and frustrated by the big popular real estate search sites? Start your search here with our home finder tool to locate homes by price, size, location, and more! Be sure to save your searches and sign up to be notified as soon as new matching properties become available so you don’t miss out!
Are you ready to sell your home but not sure for what price? Find out what your home may be worth with our free home valuation tool. Simply enter some basic information about your home and we will provide you a comprehensive market summary suggesting a listing price for your home. With today’s climbing home prices it is important to price your home accurately and competitively.
Whether you are ready to buy or sell a home, condo, or duplex, call us today at and we’ll get you started!
Memphis Metro Housing Stats
Memphis-area home sales for June decreased 12.6% from a year ago, with 1,762 total sales recorded. Average sales price was up 0.6%, at $289,309.
There were 90 new home sales for June this year in Memphis, a decrease of 3.2% from last year’s 93 new home sales, and the average sale price for new homes increased 6.4% from one year ago, up from $464,396 to $494,335.
There were 13 bank-owned properties sold, an increase of 62.5% from last year’s 8 units sold. Average sales price increased 55.1% from $112,862 to $175,010.
There is a total of 3,192 listings available to buyers in Memphis, this includes single family, condo and duplex properties for sale. The average list price for single-family homes is $379,694, $247,660 for condos, and for duplexes is $191,792. The market total for pending sales is 900 for single family, 35 for condo and 19 for duplex with the average list price of $333,137.
Total inventory increased 4%, with 3,192 units listed for sale.
What Does This Data Mean For Buyers?
More people are choosing to enter the market as inventory increased once more.
Give us a call today, and we can answer all the questions about buying a single-family home, condo, or duplex in Memphis, Tennessee.
What Does This Data Mean For Sellers?
Sales in June increased significantly from May. The Memphis-area market appears to have potential, despite the fact that sales were down from a year earlier.
If you are thinking of selling your home or condo, give us a call at 901-451-2001 to find out how we list and actively market the best features of your home to the most qualified buyers!
If you need to buy or sell a home here in Memphis, give us a call today at . We can help you find the perfect home for you and your family. Or, we can help you sell the house you have invested into a family who will treasure it as much as you do. Don’t hesitate to give us a call to get started!
See Additional Reports on the Memphis Real Estate Market
Memphis Homes for Sale
Here are the most recent home listings just added to the database in the average sale price for Memphis – all homes here are priced at $249,100 or less