Memphis Area Real Estate Market Report – This Month 2024
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Memphis Housing Stats
Memphis-area home sales for February increased 13.6% from a year ago, with 1,103 total sales recorded. Average sales price was up 1%, at $242,400.
There were 44 new home sales for February this year in Memphis, an decrease of 32.3% from last year’s 65 new home sales, and the average sale price for new homes increased 15.2% from one year ago, up from $436,130 to $502,608.
There were 10 bank-owned properties sold. Average sales price decreased 30.1 % from $155,369 to $108,607.
There is a total of 3,072 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 $386,828, $290,420 for condos, and for duplexes is $186,789. The market total for pending sales is 1,584 for single family, 76 for condo and 25 for duplex with the average list price of $329,663.
Inventory decreased 7.4% with 3,072 units listed for sale.
READ THE IN-DEPTH MARKET REPORT HERE!
Market Reports from 2024
| January 2024 | February 2024 |
Market Reports from 2023
| January 2023 | February 2023 |
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| March 2023 | April 2023 |
| May 2023 | June 2023 |
| July 2023 | August 2023 |
| September 2023 | October 2023 |
| November 2023 | December 2023 |
Browse by Area
| Bartlett | Cordova | Germantown |
| Lakeland | Arlington |
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