Is Memphis, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Memphis is a buyer's market

Buyer's
Market

Difference Since August 2021

At the same time last year, Memphis was a Seller's Market.

Key Takeaway

Memphis is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Memphis, NY cost?

Median Sold Price

$247,500

$130/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$47,600(+23.8%)

Key Takeaway

Homes in Memphis have sold for 23.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 -$110K
N/A
2 $171.5K$117.7K
-31.3%
3 $180.2K$216.2K
+20.0%
4 $215.4K$444.5K
+106.3%
5+ $249K$299.9K
+20.4%

Median Sold Price Compared To Nearby Cities

Memphis
+23.8%
Van Buren
+16.7%
Lysander
+14.4%

How many homes are available in Memphis, NY?

Number of Homes For Sale

Jul 2022Aug 2022%
68+33.3%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 00
0.0%
2 22
0.0%
3 12
+100.0%
4 34
+33.3%
5+ 00
0.0%

Number of Homes Sold

Jul 2022Aug 2022%
110.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

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.

Average Sale Time

Aug 2021Aug 2022%
10 Days2 Days-81.4%

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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Memphis are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Memphis, NY

Memphis, NY has 8 homes for sale to choose from. Between July 2022 and August 2022, Memphis, NY real estate market has seen increase in the number of listings by 33.3%. In August 2022 median list price was $247,500 and the average listing age was 2 days. Real estate listing prices changed between July 2022 and August 2022: prices of 1 bedroom properties went up by 0%, the cost of 2 bedrooms properties went down by 31.3%, 3 bedrooms properties became 20% more expensive, prices of 4 bedrooms properties increased by 106.3%, 5 bedrooms properties became 20.4% more expensive. Volume of homes for sale changed: volume of 1 bedroom homes stayed the same, volume of 2 bedrooms homes stayed the same, 3 bedrooms homes inventory increased by 100%, volume of 4 bedrooms homes went up by 33.3%, 5 bedrooms homes inventory did not change. Over 0 listings were sold over their listed price in August 2022 in Memphis, NY. In the same period over 0 listings were sold below the listed price and 1 listings were sold for the listed price.

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