Memphis Area Market Report

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Market Reports, Memphis-Area Market

Published Monday, January 13, 2025 8:00 amby MAAR Communications

MEMPHIS, Tenn., January 13, 2025 – Memphis-area home sales for December decreased 0.4 percent from a year ago, with 1,108 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 2.7 percent from November, when there were 1,139 total sales. Average sales price from December-to-December was down 5.2 percent, at $249,317. Inventory decreased 10.9 percent, with 3,469 units listed for sale. December average DOM was 50, a 3.8 percent decrease from the previous month. Sales volume YTD increased 0.2 percent, to $4.20 billion.  “The market finished slightly up in total sales and sales volume for the year,” said MAAR President Scott Bettis. “Once again, the Memphis market proved steady.” 

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.”