Memphis Tennessee

As a potential buyer or seller in today's real estate market, it's important to understand the correlation between key metrics that can impact your decision-making process.

First, let's take a look at the Months Supply of Inventory, which is currently at 3.81. This metric indicates the number of months it would take to sell all existing inventory at the current sales pace. A lower number typically signifies a seller's market, while a higher number indicates a buyer's market.

The 12-Month Change in Months of Inventory is also important to consider, with a positive change of +9.48%. This increase suggests that inventory levels are rising, which could potentially lead to more favorable conditions for buyers in terms of selection and negotiating power.

Next, the Median Days Homes are On the Market is only 30, indicating that properties are selling relatively quickly in this market. This could be a result of high demand and low inventory, driving competition among buyers.

The List to Sold Price Percentage is at 95.2%, showing that sellers are generally receiving close to their asking price. This could be due to the competitive nature of the market and buyers willing to pay top dollar for desirable properties.

Lastly, the Median Sold Price is $170,000, providing a benchmark for the average price of homes in this market. This figure can be useful for both buyers and sellers to gauge pricing trends and make informed decisions.

Overall, these metrics suggest a market that is balanced between buyers and sellers, with relatively low inventory levels, quick sales, and strong pricing.

Buyers may need to act quickly and be prepared to make competitive offers, while sellers may benefit from the current conditions to maximize their returns.

Did You Know?

The Piggly Wiggly, the world's first self-service grocery store, opened in Memphis in 1916.
Memphis is the only five-time winner of the nation's cleanest city award.
Memphis has one of the largest artesian well systems in the world. This aquifer contains more than 100 trillion gallons of water that fell to the earth as long as 2,000 years ago. It first became available to the city in 1887.

Memphis Tennessee

As a potential buyer or seller in today's real estate market, it's important to understand the correlation between key metrics that can impact your decision-making process.

Overall, these metrics suggest a market that is balanced between buyers and sellers, with relatively low inventory levels, quick sales, and strong pricing.

Did You Know?

The Piggly Wiggly, the world's first self-service grocery store, opened in Memphis in 1916.

Memphis is the only five-time winner of the nation's cleanest city award.

Memphis has one of the largest artesian well systems in the world. This aquifer contains more than 100 trillion gallons of water that fell to the earth as long as 2,000 years ago. It first became available to the city in 1887.