Your search results

May Home Sales Down in Memphis

Posted by Meghan Caldwell on June 18, 2020
| 0

The latest homes sales report for Memphis showed a whopping 34% decrease in home sales for May. This was not a huge surprise as every industry was hit hard during the peak of the pandemic. Despite a decrease in sales, homes moved a little faster, as we saw the average days on market decreased by 4 days. and values in were up by 4% ($249,390) from this time last year ($239,679). Condominium prices were also up significantly by 14% ($197,791) compared to the average sales price we saw last year ($158,584).   (Shelby County Only)

 

Current Prices

The median residential price for a single-family home was $249,390, and for condos, it was $197,791. This compares to last year’s median residential and condo prices of $239,679 and $173,544 respectively.

What’s Pending?

There were 883 pending sales at the end of April. The average number of days on the market for a single-family home was 34 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.