MEMPHIS, Tenn., March 7, 2025 – Memphis-area home sales for February decreased 9.4 percent from a year ago, with 959 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 17.4 percent from January, when there were 1,161 total sales. The average sales price from February-to-February went down 3.7 percent, at $236,899. Inventory increased 3.5 percent, with 3,635 units listed for sale. February average DOM was 56, a 3.4 percent decrease from the previous month. Sales volume YTD decreased 3.3 percent, to $518.1 million.
February Comparison
2025 |
2024 |
Percentage Change |
|
Total Home Sales |
959 | 1,058 | -9.4% |
Median Sales Price |
$185,000 | $198,950 | -7% |
Average Sales Price |
$236,899 | $246,032 | -3.7% |
Monthly Sales Volume |
$227.2 million | $260.3 million | -12.7% |
Year-to-Date Comparison
2025 |
2024 |
Percentage Change |
|
Total Home Sales |
2,124 | 2,307 | -7.9% |
Median Sales Price |
$187,500 | $181,900 | +3.1% |
Average Sales Price |
$243,908 | $232,289 | +5% |
Monthly Sales Volume |
$518.1 million | $535.9 million | -3.3% |
“February was a slower month, and the snow did not help,” said MAAR President Greg Renfrow. “But inventory took another jump, so the market should be picking up.”
Historical home sale statistics are also available for comparison.