Memphis Area Real Estate Market Report – This Month 2023
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Memphis Housing Stats
Memphis-area home sales for February decreased 28.9% from a year ago, with 917 total sales recorded. Average sales price was up 3%, at $40,507.
There were 54 new home sales for February this year in Memphis, a decrease of 5.3% from last year’s 57 new home sales, and the average sale price for new homes increased 22.8% from one year ago, up from $422,542 to $518,900.
There were 13 bank-owned properties sold, an increase of 225% from last year’s 4 units sold. Average sales price increased 33.7% from $116,225 to $155,369.
There is a total of 2,760 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 $364,327, $266,880 for condos, and for duplexes is $196,152. The market total for pending sales is 852 for single family, 24 for condo and 21 for duplex with the average list price of $310,095.
Inventory increased 2.6 % with 2,760 units listed for sale.
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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