The month of June was kind to homeowners in Memphis. Compared to this time last year, home values showed a solid increase of 3% ($247,613) for single-family homes, while condo prices soared to a 7% ($181,659) increase. Additionally, the average days on market was down by two days. The number of home sales however, remained almost completely flat as we saw a decrease of 0.6% in sales. (Shelby County Only)
The median residential price for a single-family home was $247,613, and for condos, it was $181,659. This compares to last year’s median residential and condo prices of $240,401 and $169,750 respectively.
There were 1,756 pending sales at the end of June. The average number of days on the market for a single-family home was 35 days.
Ready to Find A Home in Memphis?
Get alerts for new properties that match your exact criteria as soon as they hit the market.
All housing data has been procured from local MLS stats. Please speak with a local Realtor® to confirm stats for your specific area before buying or selling a home.