The Memphis housing market is somewhat competitive. Homes in Memphis receive 2 offers on average and sell in around 42 days. The median sale price of a home in Memphis was $184K last month, down 2.1% since last year. The median sale price per square foot in Memphis is $129, up 0.0% since last year.
In April 2024, Memphis home prices were down 2.1% compared to last year, selling for a median price of $184K. On average, homes in Memphis sell after 42 days on the market compared to 35 days last year. There were 561 homes sold in April this year, up from 544 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$183,500
-2.1% YoY | Apr 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Apr 2024
Growth
% YoY
Memphis, TN
$183,500
-2.1%
United States
To compare other locations to the Memphis and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Memphis's median sale price is 57% lower than the national average. Overall cost of living in Memphis is 10% lower than the national average. Learn which home features in Memphis add value to a home.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Memphis housing market?
Memphis is somewhat competitive. Homes sell in 46 days.
0
100
48
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Some homes get multiple offers.
The average homes sell for about 4% below list price and go pending in around 46 days.
Hot homes
can sell for around list price and go pending in around 20 days.
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
Home offer insights for Memphis
Explore recent offers and recently sold homes in Memphis
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Memphis housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Memphis.
Risk Factor
Flood Factor - Major
14% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Memphis has a major risk of flooding. 16,840 properties in Memphis are likely to be
severely affected
by flooding over the next 30 years. This represents 14% of all properties in Memphis. Flood risk is increasing slower than the national average.
14% of properties are at risk of wildfire over the next 30 years
Fire Factor
Memphis has a moderate risk of wildfire. There are 33,683 properties in Memphis that have some risk of being affected by wildfire over the next 30 years. This represents 14% of all properties in Memphis.
99% of properties are at moderate
risk of a severe wind event over the next 30 years
Wind Factor
Memphis has a Moderate Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Memphis is most at risk from hurricanes. 236,889 properties in Memphis have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 77 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 86 mph.