Market Reports, Media Releases, Memphis-Area Market

Published Friday, July 8, 2022by Kira McNeil

MEMPHIS, Tenn., July 7, 2022 – Memphis-area home sales for June increased 6.8 percent from a year ago, with 2,006 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 0.5 percent from May, when there were 1,997 total sales. Average sales price from June-to-June was up 13.5 percent, at $286,103. Inventory increased 8.6 percent, with 2,380 units listed for sale. Year-to-Date sales volume increased 13.9 percent, at $2.63 billion "June sales were good in 2021, and they were even better this year," said MAAR President Bill Stewart. "Inventory took another jump, which means buyers will have more selection." .

Memphis-Area Market, MLS Sales Reports

Published Friday, June 17, 2022by Kira McNeil

The Multiple Listing Service sales report showed pending sales at 1,482 as of June 16, down 5.1 percent from the last report. Active listings stood at 2,380, up 8.6 percent from the previous report.

Other numbers of note:

• Average sales price for May was $320,490, up 18.4 percent from a year ago.
• Median sales price for May was $280,000, up 15.2 percent from a year ago.
• The average market time in May was 28 days, a 12 percent increase from a month earlier.
• There were 989 sales of units that were on the market 30 days or less.
• At the upper end of the market, there were 206 sales of $500,000 or more, up 7.3 percent from a month earlier. Prepared for maar.org by Don Wade, 901.485.1653.