Pending Sales Rise, Active Listings Drop

Per the May MLS Report

 Memphis-Area Market, MLS Sales Reports

Published Friday, June 19, 2020
 

The Multiple Listing Service sales report showed pending sales at 1,425 as of June 17, up 13.3 percent from mid-May. Active listings stood at 3,171, down 3.0 percent from a month earlier.

Other numbers of note:

  • Average sales price for May was $240,035, up 6.1 percent from a year ago.
  • Median sales price for May was $217,250, up 13.2 percent from a year ago.
  • The average market time in May was 47 days, down 11.3 percent from a month earlier.
  • There were 626 sales of units that were on the market 30 days or less.
  • At the upper end of the market, there were 59 sales of $500,000 or more, down 30.6 percent from a month earlier.

Prepared for maar.org by Don Wade, 901.485.1653.