MEMPHIS, Tenn., July 9, 2024 – Memphis-area home sales for June decreased 11.7 percent from a year ago, with 1,580 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 12.1 percent from May, when there were 1,410 total sales. Average sales price from June-to-June was up 2.4 percent, at $296,816. Inventory increased 6.3 percent, with 3,627 units listed for sale. Sales volume YTD increased 5 percent, to $2.10 billion.
June Comparison
2024 |
2023 |
Percentage Change |
|
Total Home Sales |
1,580 | 1,790 | -11.7% |
Median Sales Price |
$230,000 | $240,000 | -4.2% |
Average Sales Price |
$296,816 | $289,854 | +2.4% |
Monthly Sales Volume |
$469 million | $518.8 million | -9.5% |
Year-to-Date Comparison
2024 |
2023 |
Percentage Change |
|
Total Home Sales |
7,984 | 7,614 | +4.9% |
Median Sales Price |
$208,875 | $215,000 | -2.8% |
Average Sales Price |
$263,668 | $263,340 | +0.1% |
Monthly Sales Volume |
$2.10 billion | $2 billion | +5% |
“Sales were up 12.1 percent from last month,” said MAAR President Scott Bettis. “And there’s enough inventory for buyers to have a few options.”
Historical home sale statistics are also available for comparison.