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.
Key Takeaway
Memphis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Memphis, MI
How much do homes in Memphis, MI cost?
Median Sold Price
$204,900
$177/sqft
Based on all homes sold in June 2024.
Difference Since Last Month
Key Takeaway
Homes in Memphis have sold for 37.4% less than they did a month ago.
Summary: The median home sold price in Memphis was $204,900 in June 2024, down 37.4% from last month, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $327.4K | $204.9K | -37.4% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Memphis housing prices by bedroom type for June 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 decreased by 37.4%, 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
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Summary: The Memphis real estate market had 5 homes for sale in June 2024, the same as May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Memphis housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Memphis, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Memphis in June 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% 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
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 136 Days | 10 Days | -92.6% |
Summary: Homes in Memphis had an average of 10 days on market in Jun 2024, down by 92.6% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Memphis are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 1 homes were sold in Memphis; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
