Memphis Area Market Report
Memphis-area home sales are down from 2023
Sales volume year-to-date totals $3.92 billion.
Market Reports, Memphis-Area Market
Published Tuesday, December 10, 2024 8:00 amby MAAR Communications
MEMPHIS, Tenn., December 10, 2024 – Memphis-area home sales for November decreased 7.7 percent from a year ago, with 1,139 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 4.7 percent from October, when there were 1,195 total sales. Average sales price from November-to-November was up 5.6 percent, at $262,706. Inventory decreased 2.5 percent, with 3,893 units listed for sale. November average DOM was 52, a 13.3 percent decrease from the previous month. Sales volume YTD increased 0.8 percent, to $3.92 billion. “Pricing was up from November of 2023,” said MAAR President Scott Bettis. “Inventory went down 2.5 percent, not unusual for this time of year.”
However, sales were down 12.1% from Aug. 2024.
Market Reports, Memphis-Area Market
Published Tuesday, October 8, 2024 8:00 amby MAAR Communications
MEMPHIS, Tenn., October 8, 2024 – Memphis-area home sales for September decreased 4.2 percent from a year ago, with 1,284 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 12.1 percent from August, when there were 1,460 total sales. Average sales price from September-to-September was up 5.7 percent, at $288,857. Inventory remained flat, with 3,980 units listed for sale. September average DOM was 47. Sales volume YTD increased 3.4 percent, to $3.31 billion. “It was a strong month for new home sales, which were up 26 percent from September of 2023,” said MAAR President Scott Bettis. “The market is still active as we go deeper into autumn.”