Sun Dec 10 2023
This week the median list price for Memphis, TN is $179,999 with the market action index hovering around 37. This is less than last month's market action index of 38. Inventory has increased to 1,438.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$179,999|
|Median Price of New Listings||$157,500|
|Per Square Foot||$139|
|Average Days on Market||97|
|Median Days on Market||70|
|Slight Seller's Advantage|
This week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend over the last several weeks.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$449,900||2,600||0.25 - 0.5 acre||4||3||59||20||41||70|
|$239,000||1,600||8,000 - 10,000 sqft||3||2||65||44||40||49|
|$140,000||1,200||8,000 - 10,000 sqft||3||1.5||65||56||33||56|
|$89,900||1,000||6,500 - 8,000 sqft||3||1||72||32||38||87|