Single-Family Homes
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.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
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.
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 |