Bryan Realty

Memphis, TN 38119

Single-Family Homes

Market Report / michael@bryanrealty.com



Memphis, TN 38119

Tue Sep 28 2021
This week the median list price for Memphis, TN 38119 is $382,000 with the market action index hovering around 73. This is an increase over last month's market action index of 72. Inventory has increased to 20. 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.

Strong Seller's Market

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Memphis, TN 38119

Tue Sep 28 2021
This week the median list price for Memphis, TN 38119 is $382,000 with the market action index hovering around 73. This is an increase over last month's market action index of 72. Inventory has increased to 20. 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.

Strong Seller's Market

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Memphis market.
Median List Price $382,000
Median Price of New Listings $385,000
Per Square Foot $124
Average Days on Market 44
Median Days on Market 21
Price Decreased 25%
Price Increased 0%
Relisted 5%
Inventory 20
Median Rent
Market Action 73
Strong Seller's Market

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
$749,900 3,499 0.5 - 1 acre 4 4 20 0 0 112
$465,000 3,499 0.25 - 0.5 acre 4 3 47 2 1 7
$350,000 2,699 0.25 - 0.5 acre 4 2 49 0 1 28
$265,000 2,299 0.25 - 0.5 acre 4 2 49 1 5 21