Memphis homeowners saw an impressive jump in home values for the month of August. The latest home sales data revealed that home prices increased by 11% ($232,206) for single-family homes, while condo prices increased just 0.3% ($169,105). Although the number of home sales were down significantly by 12%, the average days on market decreased by 6 days. (Shelby County Only)
The median residential price for a single-family home was $232,206, and for condos, it was $169,105. This compares to last year’s median residential and condo prices of $209,302 and $168,643 respectively.
There were 1,202 pending sales at the end of August. The average number of days on the market for a single-family home was 30 days.
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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.