Memphis Housing Market Report March 2025•Macomb County, Michigan

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Housing Prices in Memphis, MI

How much do homes in Memphis, MI cost?

Housing Market Conditions

Is Memphis, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Memphis is a Seller's Market

Difference Since March 2024

Since last year, Memphis has remained a Seller's Market.

Insight

Memphis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$263,060$220/SqFt
-$22,065
-7.7%

Based on all homes sold in the last 12 months

Insight

Homes in Memphis have sold for 7.7% less than they did a year ago.

Summary: The median home sold price in Memphis was $263,060 in March 2025, down 7.7% from last year, and the median price per square foot was $220.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Memphis
+10.8%
Richmond Township
-0.5%
Memphis
-7.7%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMar 2024Mar 2025Change YoY
1--
N/A
2-$185.5K
N/A
3$285K$305.5K
+7.2%
4$320K-
N/A
5--
N/A

Summary: Memphis housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes increased by +7.2%. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

How does Memphis, MI compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Memphis, MI

Housing supply in Memphis, MI

How many homes are available in Memphis, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
1Last MonthMar 2025
22 months agoFeb 2025
-50.0 %
Change MoMFeb – Mar

Summary: The Memphis real estate market had 1 homes for sale in Mar 2025, a 50.0 % decrease compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
1Last MonthMar 2025
12 months agoFeb 2025
0.0 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
100
0.0%
211
0.0%
310
-100.0%
400
0.0%
500
0.0%

Summary: Memphis housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes decreased by -100.0%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Memphis, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price0 Home

Under Asking Price0 Home

Insight

If you're buying a home in Memphis, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Memphis in March 2025, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and and 100% were sold over asking.

Days on Market for Memphis, MI

How long does it take to sell a home in Memphis, MI?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

Many homes in Memphis are selling fast, if you're buying plan to act quickly.

Summary: During March 2025, 1 homes were sold in Memphis; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
5 DaysThis YearMar 2025
113 Days1 year agoMar 2024
-95.6 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in Memphis had an average listing age of 5 days in Mar 2025, down by 95.6% compared to the previous year.

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Newest Listings in Memphis, MI

What homes are available in Memphis, MI?

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Nearby markets

Popular Cities with Homes for Sale in Michigan

MLS Disclaimers and Copyright

Based on information from MiRealSource Inc. DL, for the period 04/01/2023 - 04/01/2025

IDX Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.

Copyright 2025 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.

The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/14/2025, 5:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.