Per the Memphis Area Association of Realtors...here are the latest statistics and facts.

August Market Report
MEMPHIS, Tenn., September 13, 2024 – Memphis-area home sales for August
decreased 8.5 percent from a year ago, with 1,460 total sales recorded in the Memphis
Area Association of REALTORS® MAARdata property records database. Sales were up 0.6
percent from July, when there were 1,451 total sales. Average sales price from August-toAugust was down 1.7 percent, at $274,863. Inventory increased 6.0 percent, with 3,981 units
listed for sale. Sales volume YTD increased 3.9 percent, to $2.94 billion.
August Comparison
2024 2023
%
Change
Total Home Sales 1,460 1,595 -8.5%
Median Sales Price $214,950 $225,000 -4.5%
Average Sales Price $274,863 $279,655 -1.7%
Monthly Sales Volume $401.3 million $446.0 million -10.0%
Year-to-Date Comparison
2024 2023
%
Change
Total Home Sales 10,905 10,474 4.1%
Median Sales Price $210,000 $220,000 -4.5%
Average Sales Price $269,216 $269,474 -0.2%
Monthly Sales Volume $2.94 billion $2.83 billion 3.9%
Historical home sales statistics are located at https://www.maar.org/newsevents/market-statistics/.
“Ther... was a slight bump from July to August in total sales,” said MAAR
President Scott Bettis. “The increase in inventory means fall buyers have more options.”
Serving the Mid-South for more than 100 years as the Voice for Local Real
Estate, the Memphis Area Association of REALTORS® serves and represents real estate
professionals as well as provides real estate information to the general public. About
4,800 members unite to make up one of Tennessee’s largest local REALTOR®
organizations with real estate expertise stretching throughout the greater Memphis area.
The MAARdata system includes records of all single-property transactions in Shelby,
Fayette, and Tipton counties. The MLS includes listings in Shelby, Fayette, Tipton,
Hardeman, Hardin, McNairy, and Lauderdale counties in Tennessee; DeSoto County in
Mississippi; and Crittenden County in Arkansas.
MAAR members subscribe to the National Association of REALTORS® Code of
Ethics. For more information, visit MAAR’s Web site at www.maar.org.