"In September, home prices fell slightly from the month before, with a median listing price of $198,500. The number of listings on the market grew 2.3% from last month, which is a smaller increase than normal for this time of the year in Memphis, and homes are also selling close to the same pace as the same time last year."
"Typically, home price per square foot in Memphis tend to rise in September. But the most recent data shows that the price per square foot decreased by 5.8% compared with the month before. So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.8%, which means price changes in Bluff City are larger the national market."
"In September, there were 2,282 homes for sale in Memphis, which was 2.3% more than the month before and 21.7% more than the same time last year. Meanwhile, active inventory across the nation rose by 0.2% from last month to 1,100,407. Homes in Memphis take an average of 66 days to sell, according to September figures. This is five days more than the previous month and two days more than the same month last year."
In September, the median listing price in Memphis was $198,500, representing a slight month-over-month decline. Listings on the market increased 2.3% from the prior month and were 21.7% higher than the same time last year, with 2,282 homes for sale. Price per square foot in Memphis decreased by 5.8% month-over-month, versus a 0.8% national decrease. Homes in Memphis averaged 66 days on market, five days longer than the previous month and two days longer than a year earlier. Nationally, active inventory rose 0.2% to 1,100,407 and average time on market was 62 days.
Read at SFGATE
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