RealTrends Market Report

Memphis, TN

Single-Family Homes

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Memphis, TN

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. 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

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

Memphis, TN

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. 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

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Memphis market.
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
Price Decreased 49%
Price Increased 4%
Relisted 7%
Inventory 1,438
Median Rent
Market Action 37
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.

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
$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