#19. Memphis, Tennessee

- Average days homes are listed before a pending sale (December 2020): 25

- Median sale price of homes in February 2021: $215,817 (29.6% less than national median)

- Houses for sale in February 2019: 6,044 (-47.1% change between 2019-2021)

- Houses for sale in February 2020: 5,219 (-38.7% change between 2020-2021)

- Houses for sale in February 2021: 3,200

Housing inventory in Memphis was low before the pandemic and then dropped even lower. In the fall of 2020, for example, there were 30% fewer listings in the tri-county area of Shelby, Fayette, and Tipton than there were a year earlier. In part, demand has been driven by out-of-state investors buying residential real estate in Memphis for rentals. Major employers in the area include FedEx, founded in Memphis in the 1970s.

TownNews.com Content Exchange

Tags

TownNews.com Content Exchange

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.