Welcome to this month’s Memphis, Tennessee, real estate market report. Check to see if there was a decline or increase in home sales.

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Memphis Housing Stats

Memphis-area home sales for August decreased 17.9% from a year ago, with 1,591 total sales recorded. Average sales price was up 0.3%, at $281,228.

There were 77 new home sales for August this year in Memphis, a decrease of 18.9% from last year’s 95 new home sales, and the average sale price for new homes increased 10% from one year ago, up from $461,630 to $507,986.

There were 8 bank-owned properties sold, same as last year’s. Average sales price increased 54.1% from $110,127 to $169,720.

There is a total of 3,311 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 $362,985, $254,918 for condos, and for duplexes is $185,804. The market total for pending sales is 963 for single family, 44 for condo and 20 for duplex with the average list price of $334,212.

Inventory increased 3.9% with 3,311 units listed for sale.


Market Reports from 2023

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Market Reports from 2022

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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