Welcome to this month’s Memphis, Tennessee, real estate market report.  Let’s delve into the scenario and determine whether there has been an uptick or downturn in home sales.

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Memphis Housing Stats

Memphis-area home sales for January increased 21.3% from a year ago, with 1,231 total sales recorded. Average sales price was down 3.4%, at $218,369.

There were 56 new home sales for January this year in Memphis, an increase of 7.7% from last year’s 52 new home sales, and the average sale price for new homes increased 5.8% from one year ago, down from $495,493 to $524,169.

There were 13 bank-owned properties sold. Average sales price increased 2.6 % from $139,160 to $142,739.

There is a total of 3,319 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 $371,116, $266,921 for condos, and for duplexes is $205,820. The market total for pending sales is 668 for single family, 40 for condo and 11 for duplex with the average list price of $315,261.

Inventory increased 3.1% with 3,319 units listed for sale.


Market Reports from 2024

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Market Reports from 2023

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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