Market Sees Strong Start to the New Year

See the First Market Report of 2021

 Market Reports, Media Releases, Memphis-Area Market

Published Thursday, February 4, 2021
 

MEMPHIS, Tenn., Feb. 4, 2021 – Memphis-area home sales for January increased 11.2 percent from a year ago, with 1,506 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 16.1 percent from December, when there were 1,796 total sales. Average sales price from January-to-January was up 14.9 percent, at $204,005. Inventory decreased 12.4 percent, with 2,105 units listed for sale. Year-to-Date sales volume increased 27.8 percent, at $307.2 million.

January Comparison

 

2021

2020

Percentage Change

Total Home Sales

1,506 1,354 11.2%

Median Sales Price

$167,000 $140,000 19.3%

Average Sales Price

$204,005 $177,569 14.9%

Monthly Sales Volume

$307.2 million $240.4 million 27.8%

 

Year-to-Date Comparison

 

2021

2020

Percentage Change

Total Home Sales

1,506 1,354 11.2%

Median Sales Price

$167,000 $140,000 19.3%

Average Sales Price

$204,005 $177,569 14.9%

Monthly Sales Volume

$307.2 million $240.4 million 27.8%

"A very strong start to the year," said 2021 MAAR President Cassandra Bell-Warren. "The sales numbers are up substantially from the beginning of 2020."

Historical home sale statistics are also available for comparison.