Bryan Realty

Memphis, TN 38120

Single-Family Homes

Market Report / michael@bryanrealty.com



Memphis, TN 38120

Thu Dec 01 2022
This week the median list price for Memphis, TN 38120 is $587,250 with the market action index hovering around 37. This is less than last month's market action index of 40. Inventory has increased to 40. 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 has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Memphis, TN 38120

Thu Dec 01 2022
This week the median list price for Memphis, TN 38120 is $587,250 with the market action index hovering around 37. This is less than last month's market action index of 40. Inventory has increased to 40. 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 has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Memphis market.
Median List Price $587,250
Median Price of New Listings $445,000
Per Square Foot $168
Average Days on Market 60
Median Days on Market 28
Price Decreased 45%
Price Increased 0%
Relisted 5%
Inventory 40
Median Rent
Market Action 37
Slight Seller's Advantage

Prices in this zip are remaining at a plateau, albeit significantly below the market’s peak. This week prices bumped down a bit, but not enough to indicate a resumed downward trend. Look for a persistent up-shift in the Market Action Index before we see prices significantly 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
$1,087,500 5,249 0.5 - 1 acre 4 5 35 0 0 70
$682,200 3,899 0.25 - 0.5 acre 4 3.5 36 1 1 52
$452,450 2,999 0.25 - 0.5 acre 4 2.8 49 2 1 21
$302,450 1,699 0.25 - 0.5 acre 3 2 63 2 1 21