Market Inventory Continues to Rise

YTD Sales Volume Also Increased

 Market Reports, Media Releases, Memphis-Area Market

Published Wednesday, September 8, 2021
 

MEMPHIS, Tenn., September 8, 2021 – Memphis-area home sales for August increased 11.1 percent from a year ago, with 2,038 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 14.8 percent from July, when there were 2,391 total sales. Average sales price from August-to-August was up 14.6 percent, at $254,420. Inventory increased 5.8 percent, with 2,659 units listed for sale. Year-to-Date sales volume increased 31.9 percent, at $3.43 billion.

August Comparison

 

2021

2020

Percentage Change

Total Home Sales

2,038 1,835 11.1%

Median Sales Price

$220,000 $185,000 18.9%

Average Sales Price

$254,420 $221,954 14.6%

Monthly Sales Volume

$518.5 million $407.3 million 27.3%

 

Year-to-Date Comparison

 

2021

2020

Percentage Change

Total Home Sales

14,619 12,519 16.8%

Median Sales Price

$200,000 $170,000 17.6%

Average Sales Price

$234,362 $207,415 13.0%

Monthly Sales Volume

$3.43 billion $2.60 billion 31.9%

"The market remains vibrant," said MAAR President Cassandra Bell-Warren. "Total home sales and sales volume are way up. And inventory continued its comeback, rising for the sixth month in a row."

Historical home sale statistics are also available for comparison.