Memphis-Area Market, Market Reports, Media Releases

Published Monday, November 7, 2022by Kira McNeil

MEMPHIS, Tenn., Nov. 7, 2022 – Memphis-area home sales for October decreased 24.8 percent from a year ago, with 1,456 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 21.9 percent from September, when there were 1,864 total sales. Average sales price from October-to-October was up 2.0 percent, at $253,975. Inventory increased 4.1 percent, with 3,054 units listed for sale. Year-to-Date sales volume increased 2.9 percent, at $4.57 billion. "Inventory topped 3,000 for the first time this year," said MAAR President Bill Stewart. "More inventory and moderating prices can help homebuyers—especially first-time homebuyers." 

Memphis-Area Market, MLS Sales Reports

Published Tuesday, November 15, 2022by Kira McNeil

The Multiple Listing Service sales report showed pending sales at 1,000 as of November 15, down 9.3 percent from mid-October. Active listings stood at 3,106, up 1.7 percent from a month earlier.

Other numbers of note:

• Average sales price for October was $294,543, up 2.5 percent from a year ago.
• Median sales price for October was $254,950, up 0.1 percent from a year ago.
• The average market time in October was 35 days, up 6.1 percent from a month earlier.
• There were 596 sales of units that were on the market 30 days or less.
• At the upper end of the market, there were 123 sales of $500,000 or more, down 18.5 percent from a month earlier.

 Prepared for maar.org by Don Wade, 901.485.1653.