OFFICE CLOSURE: The office will be closed Monday, Jan. 18 for Martin Luther King Jr. Day. Staff will be unavailable during this time. The office will resume normal business hours the following Tuesday.

MLS Report Shows Prices Continue to Rise

Listings & Inventory Down

 Memphis-Area Market, MLS Sales Reports

Published Friday, December 18, 2020
 

The Multiple Listing Service sales report showed pending sales at 1,315 as of December 18, down 7.5 percent from mid-November. Active listings stood at 2,403, down 9.1 percent from a month earlier.

Other numbers of note:

  • Average sales price for November was $256,030, up 18.8 percent from a year ago.
  • Median sales price for November was $220,000, up 22.2 percent from a year ago.
  • The average market time in November was 41 days, down 2.4 percent from a month earlier.
  • There were 693 sales of units that were on the market 30 days or less.
  • At the upper end of the market, there were 109 sales of $500,000 or more, down 19.9 percent from a month earlier.

Prepared for maar.org by Don Wade, 901.485.1653.