Memphis Housing Market Report January 2025•Macomb County, Michigan

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Housing Prices in Memphis, MI

How much do homes in Memphis, MI cost?

Median List Price

Median List Price
This is the middle price for which all homes in a given area are listed. Half of all the homes sold were below this price, and half were above.
$299,900$222/SqFt
+$8,200
+2.8%

Based on all homes listed in the last 12 months

Insight

The list price of homes in Memphis has increased by 2.8% since last year.

Summary: The median home list price in Memphis was $299,900 in January 2025, up 2.8% from the previous year, and the median price per square foot was $222.

Median List Price By City

Median List Price By City
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
+5.1%
Richmond Township
+3.4%
Memphis
+2.8%
Riley Township
0.0%

Median List Price By Bedrooms

Median List 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.
BedsJan 2024Jan 2025Change YoY
1--
N/A
2-$174.4K
N/A
3$288.5K$302.4K
+4.8%
4$335K$335K
0.0%
5--
N/A

Summary: Memphis housing price by bedroom type for January 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 +4.8%. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

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
3Last MonthJan 2025
22 months agoDec 2024
+50.0 %
Change MoMDec – Jan

Summary: The Memphis real estate market had 3 homes for sale in Jan 2025, a 50.0 % increase compared to Dec 2024.

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.
BedsDec 2024Jan 2025Change MoM
100
0.0%
201
+100.0%
322
0.0%
400
0.0%
500
0.0%

Summary: Memphis housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +100.0%. The inventory for 3 bedroom homes remained the same. 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 Price2 Homes

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 2 homes were sold or pending in Memphis in January 2025, up by 100.0% month-over-month. Of the 2 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 Days2 Homes

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 January 2025, 2 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 Listing Age

Average Listing Age
This is the average number of days an active home has been on the market.
This Year1 year agoChange YoY
45 DaysThis YearJan 2025
197 Days1 year agoJan 2024
-77.1 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in Memphis had an average listing age of 45 days in Jan 2025, down by 77.1% 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

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MLS Disclaimers and Copyright

Based on information from MiRealSource Inc. DL, for the period 02/01/2023 - 02/01/2025

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: 2/5/2025, 4:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.