Your search results

Memphis Condo Prices Soar in March

Posted by Scott Layson on April 17, 2019
| 0

If you own a condo in Memphis then you will probably be happy to hear that the Median sales price for condos saw a 17.5% increase compared to March of 2018. Single-family home values did not fare as well as they rose only about 1% compared to what we saw this time last year. 

Overall, home sales were down 2.2% from last year's numbers, but there is a silver lining as we saw days on market drop by an impressive 6 days. With rates continuing to stay low, we are still expecting a flurry of homebuyers to hit the market for the spring and summer months. 

Current Prices

The median residential price for a single-family home was $169,000, and for condos, it was $165,000. This compares to last year’s median residential and condo prices of $168,000 and $140,450 respectively. 

What’s Pending?

There were 970 sales pending sales at the end of March. The average number of days on the market for a single-family home was 46 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.