MLS Report Shows Prices on the Rise

Trend Continues Amid Low Inventory

 Memphis-Area Market, MLS Sales Reports

Published Tuesday, May 18, 2021
 

The Multiple Listing Service sales report showed pending sales at 1,704 as of May 17, up 9.4 percent from mid-April. Active listings stood at 2,202 up 7.5 percent from a month earlier.

Other numbers of note:

  • Average sales price for April was $266,397, up 6.2 percent from a year ago.
  • Median sales price for April was $234,525, up 11.7 percent from a year ago.
  • The average market time in April was 40 days, down 14.9 percent from a month earlier.
  • There were 835 sales of units that were on the market 30 days or less.
  • At the upper end of the market, there were 129 sales of $500,000 or more, down 6.5 percent from a month earlier.

Prepared for maar.org by Don Wade, 901.485.1653.