Market Reports, Memphis-Area Market
Published Wednesday, April 17, 2024 11:00 amby MAAR Communications
MEMPHIS, Tenn., April 17, 2024 – Memphis-area home sales for March decreased 9.2 percent from a year ago, with 1,241 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 12.5 percent from February, when there were 1,103 total sales. Average sales price from March-to-March was down 3.7 percent, at $255,511. Inventory increased 3.8 percent, with 3,189 units listed for sale. Sales volume YTD increased 4.8 percent, to $865.1 million. “Sales jumped from February by 12.5 percent,” said MAAR President Scott Bettis. “Inventory went up 3.8 percent. The market is becoming more active.”