Memphis-Area Sales Rebounded from April

Sales Volume Ahead of May 2021

 Market Reports, Media Releases, Memphis-Area Market

Published Thursday, June 9, 2022
 

MEMPHIS, Tenn., June 8, 2022 – Memphis-area home sales for May increased 2.3 percent from a year ago, with 1,997 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 26.2 percent from April, when there were 1,582 total sales. Average sales price from May-to-May was up 10.8 percent, at $265,797. Inventory increased 3.7 percent, with 2,191 units listed for sale. Year-to-Date sales volume increased 11.4 percent, at $2.05 billion.

May Comparison

 

2022

2021

Percentage Change

Total Home Sales

1,997 1,953 2.3%

Median Sales Price

$221,000 $211,500 4.5%

Average Sales Price

$265,797 $239,933 10.8%

Monthly Sales Volume

$530.8 million $468.6 million 13.3%

 

Year-to-Date Comparison

 

2022

2021

Percentage Change

Total Home Sales

8,085 8,334 − 3.0%

Median Sales Price

$211,000 $180,000 17.2%

Average Sales Price

$253,234 $220,304 14.9%

Monthly Sales Volume

$2.05 billion $1.83 billion 11.4%

"It was a solid month, more sales than a year ago despite rising prices in the grocery store and at the pump," said MAAR President Bill Stewart. "And sales volume is well ahead of this time in 2021."

Historical home sale statistics are also available for comparison.