RealTrends Market Report

Memphis, TN

Single-Family Homes

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Memphis, TN

Wed May 22 2024
This week the median list price for Memphis, TN is $225,000 with the market action index hovering around 40. This is about the same as last month's market action index of 40. Inventory has increased to 1,331. 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 continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Memphis, TN

Wed May 22 2024
This week the median list price for Memphis, TN is $225,000 with the market action index hovering around 40. This is about the same as last month's market action index of 40. Inventory has increased to 1,331. 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 continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Real-Time Market Profile

Never miss important changes in the Memphis market.
Median List Price $225,000
Median Price of New Listings $195,000
Per Square Foot $157
Average Days on Market 99
Median Days on Market 49
Price Decreased 45%
Price Increased 3%
Relisted 8%
Inventory 1,331
Median Rent
Market Action 40
Slight Seller's Advantage

Prices hit another all time high this week. Given current conditions, prices continue to march higher. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.

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
$544,450 3,000 0.25 - 0.5 acre 4 3 50 36 28 49
$299,000 1,800 8,000 - 10,000 sqft 3 2 67 38 55 42
$169,900 1,200 8,000 - 10,000 sqft 3 2 66 60 52 49
$90,000 1,000 6,500 - 8,000 sqft 3 1 74 42 48 70