The April Market Report Has Arrived

Positive Sales Trend Continues

 Media Releases, Memphis-Area Market, Market Reports

Published Friday, May 7, 2021
 

MEMPHIS, Tenn., April 7, 2021 – Memphis-area home sales for April increased 25.9 percent from a year ago, with 1,840 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 3.7 percent from March, when there were 1,774 total sales. Average sales price from April-to-April was up 3.7 percent, at $224,956. Inventory increased 2.9 percent, with 2,048 units listed for sale. Year-to-Date sales volume increased 23.7 percent, at $1.36 billion.

April Comparison

 

2021

2020

Percentage Change

Total Home Sales

1,840 1,462 25.9%

Median Sales Price

$182,000 $178,500 2.0%

Average Sales Price

$224,956 $216,980 3.7%

Monthly Sales Volume

$413.9 million $317.2 million 30.5%

 

Year-to-Date Comparison

 

2021

2020

Percentage Change

Total Home Sales

6,361 5,680 12.0%

Median Sales Price

$173,000 $155,000 11.6%

Average Sales Price

$214,336 $193,410 10.8%

Monthly Sales Volume

$1.36 billion $1.10 billion 23.7%

"It is encouraging to be up 12 percent in total home sales through the first four months of the year," said 2021 MAAR President Cassandra Bell-Warren. "Inventory is also on the rise as we get into warmer weather."

Historical home sale statistics are also available for comparison.