July Boasts Strong Numbers

Latest Market Report Is Released

 Memphis-Area Market, Market Reports, Media Releases

Published Thursday, August 5, 2021
 

MEMPHIS, Tenn., August 5, 2021 – Memphis-area home sales for July increased 20.4 percent from a year ago, with 2,391 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 29.2 percent from June, when there were 1,851 total sales. Average sales price from July-to-July was up 13.4 percent, at $251,968. Inventory increased 12.1 percent, with 2,514 units listed for sale. Year-to-Date sales volume increased 32.4 percent, at $2.90 billion.

July Comparison

 

2021

2020

Percentage Change

Total Home Sales

2,391 1,986 20.4%

Median Sales Price

$220,000 $193,000 14.1%

Average Sales Price

$251,968 $222,128 13.4%

Monthly Sales Volume

$602.4 million $441.1 million 36.6%

 

Year-to-Date Comparison

 

2021

2020

Percentage Change

Total Home Sales

12,570 10,683 17.7%

Median Sales Price

$195,000 $170,000 14.7%

Average Sales Price

$231,010 $204,919 12.7%

Monthly Sales Volume

$2.9 billion $2.19 billion 32.4%

"The numbers speak for themselves," said MAAR President Cassandra Bell-Warren. "July was an incredible month and it’s been a very good year for home sales. Inventory even jumped 12 percent."

Historical home sale statistics are also available for comparison.