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Memphis Home Values Up 10% in October

Posted by Meghan Caldwell on November 25, 2019
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Memphis homeowners were rewarded nicely in October with the news that home values were up significantly for single-family homes at 10% ($226,286) from this time last year ($205,491). In contrast, Condominium’s prices were down by 8.4%($163,866) compared to the prices we saw last year ($178,884). We also saw an overall 8.8% decrease in reported home closings. The average days on market remained the same at 41 days. (Shelby County Only)

 

 

Current Prices

The median residential price for a single-family home was $226,286 and for condos, it was $163,866. This compares to last year’s median residential and condo prices of $205,491 and $178,884 respectively.

What’s Pending?

There were 773 pending sales at the end of October. The average number of days on the market for a single-family home was 41 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.