Properties Moved Fast in May

Latest MLS Report Indicates Hot Market

 Memphis-Area Market, MLS Sales Reports

Published Tuesday, June 15, 2021
 

The Multiple Listing Service sales report showed pending sales at 1,687 as of June 15, down 1.0 percent from mid-May. Active listings stood at 2,242, up 1.8 percent from a month earlier.

Other numbers of note:

  • Average sales price for May was $270,662, up 12.8 percent from a year ago.
  • Median sales price for May was $243,000, up 11.9 percent from a year ago.
  • The average market time in May was 31 days, down 22.5 percent from a month earlier.
  • There were 972 sales of units that were on the market 30 days or less.
  • At the upper end of the market, there were 134 sales of $500,000 or more, up 3.9 percent from a month earlier.

Prepared for maar.org by Don Wade, 901.485.1653.