Local Inventory Continues to Rise

See the Latest Market Snapshot

 Market Reports, Media Releases, Memphis-Area Market

Published Friday, July 9, 2021
 

MEMPHIS, Tenn., July 8, 2021 – Memphis-area home sales for June increased 12.4 percent from a year ago, with 1,851 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 4.9 percent from May, when there were 1,947 total sales. Average sales price from June-to-June was up 12.8 percent, at $251,890. Inventory increased 1.8 percent, with 2,242 units listed for sale. Year-to-Date sales volume increased 31.4 percent, at $2.30 billion.

June Comparison

 

2021

2020

Percentage Change

Total Home Sales

1,851 1,647 12.4%

Median Sales Price

$223,000 $186,500 19.6%

Average Sales Price

$251,890 $223,239 12.8%

Monthly Sales Volume

$466.2 million $367.7 million 26.8%

 

Year-to-Date Comparison

 

2021

2020

Percentage Change

Total Home Sales

10,172 8,697 17.0%

Median Sales Price

$190,000 $165,000 15.2%

Average Sales Price

$225,979 $200,984 12.4%

Monthly Sales Volume

$2.3 billion $1.75 billion 31.4%

"Halfway through the year, numbers are up across the board," said MAAR President Cassandra Bell-Warren. "Pricing continues to rise, but inventory also ticked upward again."

Historical home sale statistics are also available for comparison.