The Memphis residential real estate market saw home sales plunge 17.5% in July and prices came down from record highs in June, according to data from the Memphis Area Association of Realtors (MAAR).
Nearly 2,000 homes sold in July 2022, down over 400 homes sold compared to the record July 2021 pace. The median price of $233,250 was a 5.5% increase from July 2021, and the average price of $268,133 was a 6.2% increase.
Home prices were also down from a record June, which saw a median of $250,000…
