Bryan Realty

Memphis, TN 38119

Single-Family Homes

Market Report / michael@bryanrealty.com



Memphis, TN 38119

Thu Mar 28 2024
This week the median list price for Memphis, TN 38119 is $449,900 with the market action index hovering around 34. This is less than last month's market action index of 35. Inventory has increased to 55. 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

The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Memphis, TN 38119

Thu Mar 28 2024
This week the median list price for Memphis, TN 38119 is $449,900 with the market action index hovering around 34. This is less than last month's market action index of 35. Inventory has increased to 55. 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

The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Memphis market.
Median List Price $449,900
Median Price of New Listings $345,000
Per Square Foot $155
Average Days on Market 173
Median Days on Market 126
Price Decreased 49%
Price Increased 4%
Relisted 13%
Inventory 55
Median Rent
Market Action 34
Slight Seller's Advantage

Prices in this zip code are bouncing around near term trough. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.

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
$719,900 3,000 8,000 - 10,000 sqft 4 3.5 1 0 2 504
$535,000 3,300 0.25 - 0.5 acre 4 3.5 49 2 0 164
$350,000 2,600 0.25 - 0.5 acre 4 3 51 3 3 105
$267,450 1,700 0.25 - 0.5 acre 3 2 53 0 2 66