MEMPHIS, Tenn., April 14, 2025 – Memphis-area home sales for March decreased 1.5 percent from a year ago, with 1,224 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 27.6 percent from February, when there were 959 total sales. The average sales price from March-to-March increased 5.7 percent, at $270,916. Inventory increased 4.8 percent, with 3,811 units listed for sale. March average DOM was 61, an 8.9 percent increase from the previous month. Sales volume YTD decreased 2.3 percent, to $849.6 million.
March Comparison
2025 |
2024 |
Percentage Change |
|
Total Home Sales |
1,224 | 1,243 | -1.5% |
Median Sales Price |
$225,000 | $207,500 | +8.4% |
Average Sales Price |
$270,916 | $256,376 | +5.7% |
Monthly Sales Volume |
$331.6 million | $318.7 million | +4% |
Year-to-Date Comparison
2025 |
2024 |
Percentage Change |
|
Total Home Sales |
3,348 | 3,614 | -7.4% |
Median Sales Price |
$204,400 | $189,950 | +7.6% |
Average Sales Price |
$253,751 | $240,572 | +5.5% |
Monthly Sales Volume |
$849.6 million | $869.4 million | -2.3% |
“March total sales were up almost 30 percent from February,” said MAAR President Greg Renfrow. “So, the market is getting a lot more active as we go into spring.”
Historical home sale statistics are also available for comparison.