MEMPHIS, Tenn., May 14, 2024 – Memphis-area home sales for April increased 18.4 percent from a year ago, with 1,380 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 11.2 percent from March, when there were 1,241 total sales. Average sales price from April-to-April was up 1.3 percent, at $264,016. Inventory increased 7.4 percent, with 3,425 units listed for sale. Sales volume YTD increased 8.8 percent, to $1.23 billion.
April Comparison
2024 |
2023 |
Percentage Change |
|
Total Home Sales |
1,380 | 1,166 | +18.4% |
Median Sales Price |
$210,000 | $275,000 | -23.6% |
Average Sales Price |
$264,016 | $260,552 | +1.3% |
Monthly Sales Volume |
$364.3 million | $303.8 million | +19.9% |
Year-to-Date Comparison
2024 |
2023 |
Percentage Change |
|
Total Home Sales |
4,987 | 4,519 | +10.4% |
Median Sales Price |
$195,000 | $200,000 | -2.5% |
Average Sales Price |
$246,916 | $249,889 | -1.2% |
Monthly Sales Volume |
$1.23 billion | $1.13 billion | +8.8% |
“Huge increase in April sales from last year,” said MAAR President Scott Bettis. “There was also a sizable jump from March, and we’re now up more than 10 percent in sales for the calendar year.”
Historical home sale statistics are also available for comparison.