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Memphis Housing Stats
Memphis-area home sales for May increased by 2.3 % from a year ago, with 1,997 total sales recorded. Average sales price from May-to-May was up by 10.8 %, at $265,797. Year-to-Date sales volume increased by 11.4 %, at $2.05 billion.
There were 70 new home sales during May this year in Memphis, this is a year-to-year decrease of 30.7%, and the average sale price for new homes climbed 19.4% from one year ago, up from $379,783 to $453,417.
There were 3 bank-owned properties sold, a drop of 57.1% when compared to the 7 sold during May 2021. Average sales price went down 29.4% from $66,333 to $46,833.
There is a total of 2,191 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 $359,563, $195,510 for condos, and for duplexes is $262,122. The market total for pending sales is 1,477 for single family, 50 for condo and 34 for duplex with the average list price of $315,381.
Total inventory increased from 2,016 at the end of April to 2,191 at the end of May. May had more sales than a year ago despite rising prices in the grocery store and at the pump.
READ THE IN-DEPTH MARKET REPORT HERE!
Market Reports from 2022
| January 2022 | February 2022 |
| March 2022 | April 2022 |
| May 2022 | |
Market Reports from 2021
| January 2021 | February 2021 |
| March 2021 | April 2021 |
| May 2021 | June 2021 |
| July 2021 | August 2021 |
| September 2021 | October 2021 |
| November 2021 | December 2021 |
Market Reports from 2020
| August 2020 | September 2020 |
| October 2020 | November 2020 |
| December 2020 |
Browse by Area
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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
