Sales Down, Prices Up in February

Report Shows Decent Numbers Overall

 Market Reports, Media Releases, Memphis-Area Market

Published Friday, March 5, 2021
 

MEMPHIS, Tenn., Mar. 4, 2021 – Memphis-area home sales for February decreased 5.2 percent from a year ago, with 1,225 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 18.7 percent from January, when there were 1,506 total sales. Average sales price from February-to-February was up 10.3 percent, at $200,278. Inventory decreased 6.1 percent, with 1,976 units listed for sale. Year-to-Date sales volume increased 17 percent, at $556.1 million.

February Comparison

 

2021

2020

Percentage Change

Total Home Sales

1,225 1,292 -5.2%

Median Sales Price

$163,000 $140,000 16.4%

Average Sales Price

$200,278 $181,631 10.3%

Monthly Sales Volume

$245.3 million $234.7 million 4.5%

 

Year-to-Date Comparison

 

2021

2020

Percentage Change

Total Home Sales

2,741 2,646 3.6%

Median Sales Price

$165,000 $140,000 17.9%

Average Sales Price

$202,878 $179,552 13.0%

Monthly Sales Volume

$556.1 million $475.1 million 17.0%

"The storm halted activity for a week, but even with that we were ahead on sales volume for the month from 2020," said 2021 MAAR President Cassandra Bell-Warren. "And pricing remains strong."

Historical home sale statistics are also available for comparison.