Published May 4, 2021
An Update on Memphis Real Estate for May
Here’s the latest news and notes about the Memphis real estate market.
In case you haven’t heard already, we are in a strong seller’s market here in Memphis. The National Association of Realtors defines a seller’s market as a real estate market with less than five months’ supply of homes.
In Memphis proper, we have just a three-week supply. In Bartlett, Arlington, Lakeland, Germantown, and Cardinal we have less than a two-week supply. In Cordova, we have just a one-week supply. If you want to sell, this could be a great time. You’ll get a bit more money, and you may have to do a little less to get your home in selling condition.
It’s also a good time to buy with historically low interest rates. Payments are affordable right now, and many homebuyers are eager to purchase, hence our shortage of inventory.
If you have questions for me about the market or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.
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