Bryan Realty
Memphis, TN
Single-Family Homes
Market Report / michael@bryanrealty.com
Memphis, TN
Thu Apr 25 2024
This week the median list price for Memphis, TN is $209,000 with the market action index hovering around 39. This is about the same as last month's market action index of 39. Inventory has decreased to 1,256.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $209,000 | |
| Median Price of New Listings | $205,000 | |
| Per Square Foot | $149 | |
| Average Days on Market | 106 | |
| Median Days on Market | 56 | |
| Price Decreased | 46% | |
| Price Increased | 3% | |
| Relisted | 11% | |
| Inventory | 1,256 | |
| Median Rent | ||
| Market Action | 39 | |
| Slight Seller's Advantage | ||
The market appears to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $529,250 | 2,800 | 0.25 - 0.5 acre | 4 | 3 | 47 | 29 | 27 | 49 |
| $274,200 | 1,600 | 8,000 - 10,000 sqft | 3 | 2 | 70 | 43 | 42 | 42 |
| $160,000 | 1,200 | 8,000 - 10,000 sqft | 3 | 2 | 66 | 36 | 45 | 56 |
| $88,500 | 1,000 | 6,500 - 8,000 sqft | 3 | 1 | 74 | 43 | 42 | 70 |