Is Memphis, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Memphis has remained a Seller's Market.
Housing Prices in Memphis, MI
How much do homes in Memphis, MI cost?
Median Sold Price
$313,586
$228/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Memphis was $313,586 in April 2024, up 4.2% from last month, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | $300.9K | $313.5K | +4.2% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Memphis housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 4.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Memphis, MI
How many homes are available in Memphis, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 9 | +12.5% |
Summary: The Memphis real estate market had 9 homes for sale in April 2024, a 12.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 8 | 9 | +12.5% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Memphis housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 5 | +150.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Memphis in April 2024, up by 150.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Memphis, MI
How long does it take to sell a home in Memphis, MI?
Average Sale Time
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
113 Days | 10 Days | -90.8% |
Summary: Homes in Memphis had an average of 10 days on market in Apr 2024, down by 90.8% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Memphis; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.