Prices Continue to Rise, Per July MLS Report

Sales, Listings and Inventory Down

 Memphis-Area Market, MLS Sales Reports

Published Tuesday, August 18, 2020
 

The Multiple Listing Service sales report showed pending sales at 1,478 as of August 17, down 2.2 percent from mid-July. Active listings stood at 2,876, down 2.1 percent from a month earlier.

Other numbers of note:

  • Average sales price for July was $254,139, up 7.7 percent from a year ago.
  • Median sales price for July was $218,000, up 9.0 percent from a year ago.
  • The average market time in July was 48 days, down 5.9 percent from a month earlier.
  • There were 937 sales of units that were on the market 30 days or less.
  • At the upper end of the market, there were 127 sales of $500,000 or more, up 6.7 percent from a month earlier.

Prepared for maar.org by Don Wade, 901.485.1653.