Memphis Real Estate Market Update: Home Sales Drop, But Prices Keep Climbing!

Memphis Real Estate Market Update:

Home Sales Drop, But Prices Keep Climbing!

If you've been keeping an eye on the Memphis real estate market, you've probably heard that home sales have slowed down. But what you might not know is that home prices are still on the rise!

According to the latest data from the Memphis Area Association of REALTORS®, home sales in January 2025 were down 7% compared to January 2024. However, the average sales price increased by 12.3% to $247,876, while the median price rose by 13.1% to $190,000.

So what does this mean if you're thinking about selling or buying a home in Memphis? Let’s break it down.

📉 Home Sales Are Down, But That’s Not the Full Story

Yes, the number of homes sold in January was 1,161, down from 1,249  a year ago. However, this slight slowdown doesn’t mean the market is struggling. In fact, home sales were actually up 4.8% compared to December 2024, showing that buyer activity is still strong.

The key takeaway? Homes are still selling—just not as quickly as they were in previous months.

💰 Home Prices Are Still Climbing—Sellers Are Cashing In!

While sales volume has dipped, home values are continuing to rise across the Memphis area. Here’s what you need to know:

✅ Average home price: $247,876 (+12.3% YoY)
✅ Median home price: $190,000 (+13.1% YoY)
✅ Total sales volume: $287.8 million (+4.4% YoY)

Translation? If you own a home in Memphis, your property is likely worth MORE than it was last year.

This price increase is great news for homeowners thinking about selling. Even with slightly longer days on market (58 days on average, a 16% increase from last month), well-priced homes are still attracting strong offers.

🏡 What Does This Mean for Sellers?

If you’ve been waiting for the perfect time to sell, this could be your moment. With home prices at record highs and inventory still relatively low, buyers are willing to pay top dollar—especially for move-in-ready homes.

💡 Pro Tip: Homes that are priced correctly and marketed well are still getting multiple offers. If you want to sell for the highest possible price, it’s crucial to work with a real estate expert who knows how to position your home in today’s market.

🤔 Thinking About Buying? Here’s What You Should Know

If you're in the market for a home, you haven’t missed your chance—but you do need to act strategically. Home prices are rising, and interest rates could shift at any time.

Here are three things buyers should focus on right now:

✔️ Get pre-approved. With prices increasing, knowing your budget is key.
✔️ Be ready to move fast. Homes are taking longer to sell, but the best deals go quickly.
✔️ Work with an expert. Having a real estate professional in your corner can help you navigate this competitive market and get the best deal.

📢 What’s Next for the Memphis Real Estate Market?

While home sales may fluctuate in the coming months, one thing is clear: Memphis home values are still trending upward. Whether you’re thinking about selling or buying, now is the time to make a move.

📍 Want to know what your home is worth in today’s market? Contact me today for a FREE home value analysis—no strings attached!

📞 Call or Text: 901.619.1826
📧 Email: Homesbykimberleyc@gmail.com
🌐 Visit: buyandsellwithkimberley.realtor



Let’s make your next move a profitable one!

Thinking About Buying or Selling? Let’s Talk!

The Memphis real estate market is changing fast, and the best way to stay ahead is to work with a local expert. If you're ready to sell for top dollar or buy your dream home, let’s connect today!

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