Shelby County Housing Market Report February 2025•Shelby County, Tennessee

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Housing Prices in Shelby County, TN

How much do homes in Shelby County, TN cost?

Housing Market Conditions

Is Shelby County, TN 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

Shelby County is a Buyer's Market

Difference Since January 2025

Last month, Shelby County has remained a Buyer's Market.

Insight

Shelby County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

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.
$255,700$66/SqFt
-$9,300
-3.5%

Based on all homes sold in February 2025

Insight

Homes in Shelby County have sold for 3.5% less than they did a month ago.

Summary: The median home sold price in Shelby County was $255,700 in February 2025, down 3.5% from last month, and the median price per square foot was $66.

Median Sold Price By Counties

Median Sold Price By Counties
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 MoM
DeSoto County
+17.5%
Tipton County
+4.3%
Shelby County
-3.5%

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.
BedsJan 2025Feb 2025Change MoM
1$99K$129.4K
+30.8%
2$125K$126K
+0.8%
3$225K$210K
-6.7%
4$321.9K$350K
+8.7%
5$568.5K$520K
-8.5%

Summary: Shelby County housing price by bedroom type for February 2025, compared to the previous month. The home price for 1 bedroom homes increased by +30.8%. The home price for 2 bedroom homes increased by +0.8%. The home price for 3 bedroom homes decreased by -6.7%. The home price for 4 bedroom homes increased by +8.7%. The home price for 5 bedroom homes decreased by -8.5%.

Housing supply in Shelby County, TN

How many homes are available in Shelby County, TN?

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
4,018Last MonthFeb 2025
3,5812 months agoJan 2025
+12.2 %
Change MoMJan – Feb

Summary: The Shelby County real estate market had 4,018 homes for sale in Feb 2025, a 12.2 % increase compared to Jan 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
510Last MonthFeb 2025
4882 months agoJan 2025
+4.5 %
Change MoMJan – Feb

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.
BedsJan 2025Feb 2025Change MoM
14759
+25.5%
2457536
+17.3%
31,5741,755
+11.5%
41,0561,161
+9.9%
5447507
+13.4%

Summary: Shelby County housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +25.5%. The inventory for 2 bedroom homes increased by +17.3%. The inventory for 3 bedroom homes increased by +11.5%. The inventory for 4 bedroom homes increased by +9.9%. The inventory for 5 bedroom homes increased by +13.4%.

Asking Price vs. Sold Price

How much do homes in Shelby County, TN 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 Price79 Homes

At Asking Price123 Homes

Under Asking Price308 Homes

Insight

If you're buying a home in Shelby County, you may be able to get a good deal. 60.4% of homes here sold below asking price last month.

Summary: A total of 510 homes were sold or pending in Shelby County in February 2025, up by 4.5% month-over-month. Of the 510 sold homes, 60% were sold under asking, 24% were sold at asking, and and 15% were sold over asking.

Days on Market for Shelby County, TN

How long does it take to sell a home in Shelby County, TN?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days2 Homes

Over 90 Days0 Home

Insight

Avg time on Rocket Homes in Shelby County has remained consistent over time.

Summary: During February 2025, 510 homes were sold in Shelby County; 0% 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.
Last Month1 month agoChange MoM
67 DaysLast MonthFeb 2025
40 Days1 month agoJan 2025
+67.5 %
Change MoMJan – Feb

Summary: Homes in Shelby County had an average listing age of 67 days in Feb 2025, up by 67.5% compared to the previous month.

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Newest Listings in Shelby County, TN

What homes are available in Shelby County, TN?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Memphis MLS, RealTracs Middle Tennessee Regional MLS, MLS United, and Houston REALTORS® Information Service for the period 01/01/2025 - 03/01/2025

Copyright© 2025 Memphis Area Association of REALTORS. The information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that the consumer may be interested in purchasing. Information deemed reliable, but is not guaranteed accurate. Some or all of the listings displayed may not belong to the firm whose web site is being visited.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/3/2025, 10:20:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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The data relating to this real estate for sale on this websites comes in part courtesy of the IDX program of the REALTRACS MLS. Real estate listings held by brokerage firms other than this broker are marked with the REALTRACS IDX Logo. REALTRACS and this broker deem all information reliable but not guaranteed, and should be independently verified. REALTRACS and this broker assume no responsibility for typographical errors, misprints or misinformation.

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Last updated on: 3/3/2025, 10:18:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Buyer and/or Buyer's Agent should verify data and evaluate source. This information is furnished by MLS United, LLC. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of MLS United, LLC. Information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS. Neither the MLS nor the Listing Broker will be held responsible for any typographical errors, misinformation and misprints and shall be held totally harmless. All properties are subject to prior sale, change or withdrawal.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/3/2025, 10:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Last updated on: 3/3/2025, 10:20:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.