MEMPHIS, Tenn., October 8, 2024 – Memphis-area home sales for September decreased 4.2 percent from a year ago, with 1,284 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 12.1 percent from August, when there were 1,460 total sales. Average sales price from September-to-September was up 5.7 percent, at $288,857. Inventory remained flat, with 3,980 units listed for sale. September average DOM was 47. Sales volume YTD increased 3.4 percent, to $3.31 billion.
September Comparison
2024 |
2023 |
Percentage Change |
|
Total Home Sales |
1,284 | 1,340 | -4.2% |
Median Sales Price |
$215,000 | $215,000 | 0% |
Average Sales Price |
$288,857 | $273,373 | +5.7% |
Monthly Sales Volume |
$370.9 million | $366.3 million | +1.3% |
Year-to-Date Comparison
2024 |
2023 |
Percentage Change |
|
Total Home Sales |
12,197 | 11,814 | +3.2% |
Median Sales Price |
$211,900 | $220,000 | -3.7% |
Average Sales Price |
$271,275 | $270,182 | +0.4% |
Monthly Sales Volume |
$3.31 billion | $3.20 billion | +3.4% |
“It was a strong month for new home sales, which were up 26 percent from September of 2023,” said MAAR President Scott Bettis. “The market is still active as we go deeper into autumn.”
Historical home sale statistics are also available for comparison.