Bryan Realty

Memphis, TN 38117

Single-Family Homes

Market Report / michael@bryanrealty.com



Memphis, TN 38117

Fri Mar 29 2024
This week the median list price for Memphis, TN 38117 is $315,000 with the market action index hovering around 36. This is about the same as last month's market action index of 36. Inventory has held steady at or around 121. Click here to stay informed with the Memphis market!

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.

Memphis, TN 38117

Fri Mar 29 2024
This week the median list price for Memphis, TN 38117 is $315,000 with the market action index hovering around 36. This is about the same as last month's market action index of 36. Inventory has held steady at or around 121. Click here to stay informed with the Memphis market!

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

Never miss important changes in the Memphis market.
Median List Price $315,000
Median Price of New Listings $374,900
Per Square Foot $192
Average Days on Market 91
Median Days on Market 56
Price Decreased 50%
Price Increased 2%
Relisted 11%
Inventory 121
Median Rent
Market Action 36
Slight Seller's Advantage

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move 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
$691,950 3,150 0.25 - 0.5 acre 4 3.5 67 5 3 56
$369,995 1,850 0.25 - 0.5 acre 3 2 68 8 2 42
$272,450 1,400 8,000 - 10,000 sqft 3 2 69 1 3 84
$199,000 1,200 6,500 - 8,000 sqft 3 1 69 1 2 49