How much do homes in Memphis, TN cost?

Median List Price

$165,356

Based on all homes listed in the last 12 months.

Difference Since August 2020

+$21,494(+14.9%)

Key Takeaway

The list price of homes in Memphis has increased by 14.9% since last year.

Housing Market Conditions

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Key Takeaway

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Median List Price By Bedroom Count

# BEDSAug 2020Aug 2021%
1 $127.5K$152.4K+19.5%
2 $79.9K$105.2K+31.5%
3 $129.6K$149.8K+15.6%
4 $215K$252.4K+17.4%
5+ $359K$410.7K+14.4%

Median List Price Compared To Nearby Cities

Cordova
+15.8%
Bartlett
+15.7%
Memphis
+14.9%
Germantown
+9.8%
Lakeland
+7.1%

How many homes are available in Memphis, TN?

Number of Homes For Sale

Jul 2021Aug 2021%
2,6362,703+2.5%

Homes For Sale By Bedroom Count

# BEDSJul 2021Aug 2021%
1 4547+4.4%
2 477470-1.5%
3 1,4631,524+4.2%
4 524530+1.1%
5+ 127132+3.9%

Asking Price vs. Sold Price

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Key Takeaway

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Average Listing Age

Aug 2020Aug 2021%
107 Days117 Days+9.9%

Breakdown of Home Sale Times

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Key Takeaway

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About Memphis, TN

Memphis, TN has 2,703 homes for sale to choose from. The number of homes for sale in Memphis, TN increased by 2.5% between July 2021 and August 2021. In August 2021, listings were on the market for 117 days. During the same period, the median list price in this real estate market was $165,356. Between July 2021 and August 2021, listing prices of homes in this real estate market have seen the following changes: the cost of 1 bedroom properties went up by 19.5%, 2 bedrooms properties became 31.5% more expensive, 3 bedrooms properties prices increased by 15.6%, prices of 4 bedrooms properties went up by 17.4%, prices of 5 bedrooms properties went up by 14.4%. Volume of homes for sale changed: 1 bedroom homes became 4.4% more available, 2 bedrooms homes inventory decreased by 1.5%, the quantity of 3 bedrooms homes went up by 4.2%, the quantity of 4 bedrooms homes went up by 1.1%, 5 bedrooms homes became 3.9% more available. Over 225 listings were sold over their listed price in August 2021 in Memphis, TN. In the same period over 186 listings were sold below the listed price and 125 listings were sold for the listed price.

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