March Sees Nearly 45 Percent Jump in Sales

Numbers Were Up Across the Board

 Market Reports, Media Releases, Memphis-Area Market

Published Thursday, April 8, 2021
 

MEMPHIS, Tenn., April 7, 2021 – Memphis-area home sales for March increased 12.8 percent from a year ago, with 1,774 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 44.8 percent from February, when there were 1,225 total sales. Average sales price from March-to-March was up 12.7 percent, at $219,487. Inventory increased 0.7 percent, with 1,990 units listed for sale. Year-to-Date sales volume increased 21.1 percent, at $946.2 million.

March Comparison

 

2021

2020

Percentage Change

Total Home Sales

1,774 1,572 12.8%

Median Sales Price

$175,500 $158,000 10.8%

Average Sales Price

$219,487 $194,817 12.7%

Monthly Sales Volume

$389.4 million $306.3 million 27.1%

 

Year-to-Date Comparison

 

2021

2020

Percentage Change

Total Home Sales

4,516 4,218 7.1%

Median Sales Price

$170,000 $147,000 15.6%

Average Sales Price

$209,515 $185,241 13.1%

Monthly Sales Volume

$946.2 million $781.3 million 21.1%

"We had a 45 percent jump in sales from February to March," said 2021 MAAR President Cassandra Bell-Warren. "The market is moving quickly."

Historical home sale statistics are also available for comparison.