Memphis Area Real Estate Market Report – This Month 2023
Are you looking for a home to buy in Memphis, Tennessee, but not sure for what price? Find out what your home may be worth with our free home valuation tool! Be sure to save your searches and sign up to be notified as soon as new matching properties become available so you don’t miss out!
Are you ready to sell your home or investment property but not sure at what price? Find out what your property may be worth by using our free home valuation tool. Simply enter some basic information about your home and we will provide you a comprehensive market summary suggesting a beginning offering price for your home. Then we will show you how we market and sell your home to the most qualified buyers.
Whether you are ready to buy or sell a home, condo, or duplex call us today at and we’ll get you started!
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.
READ THE IN-DEPTH MARKET REPORT HERE!
Market Reports from 2023
| January 2023 | February 2023 |
Market Reports from 2022
| January 2022 | February 2022 |
| March 2022 | April 2022 |
| May 2022 | June 2022 |
| July 2022 | August 2022 |
| September 2022 | October 2022 |
| November 2022 | December 2022 |
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
