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Low Inventory Makes for Fast-Moving Market

Average DOM Down from September

 Memphis-Area Market, MLS Sales Reports

Published Wednesday, November 25, 2020
 

The Multiple Listing Service sales report showed pending sales at 1,422 as of November 23, down 2.8 percent from mid-October. Active listings stood at 2,644, down 5.7 percent from a month earlier.

Other numbers of note:

  • Average sales price for October was $273,304, up 24.9 percent from a year ago.
  • Median sales price for October was $230,000, up 25.7 percent from a year ago.
  • The average market time in October was 42 days, down 2.3 percent from a month earlier.
  • There were 806 sales of units that were on the market 30 days or less.
  • At the upper end of the market, there were 136 sales of $500,000 or more, up 13.3 percent from a month earlier.

Prepared for maar.org by Don Wade, 901.485.1653.