Memphis Real Estate
1 active listing · 5 sold in the past 12mo
$250,000
Median List Price
5
Sold (past 12mo)
44
Avg Days on Market
+18.2%
HFGⓘ
Household Formation Gap (HFG) is a secondary market indicator that measures hidden housing demand created by shrinking household sizes. As average household size decreases — due to divorce, single living, empty nesting, delayed marriage — more housing units are needed even without population growth. HFG compares the estimated number of households needed today versus 15 years ago: (population ÷ avg household size). This is a demographic trend signal, not a primary market indicator like income-based affordability or comparative market analysis. Source: U.S. Census Bureau, American Community Survey 5-Year Estimates (2009–2023), Tables B01003, B25010, B25001.
Active Listings
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Homes for Sale(1)
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Recently Sold(5)
| Address | Sold Price | Date Sold |
|---|---|---|
| 34461 Pratt Road, Memphis, MI | $350,000 | Mar 24, 2026 |
| 81115 Belle River Road, Memphis, MI | $222,000 | Dec 22, 2025 |
| 329 Stinson Road, Memphis, MI 48041 | $209,500 | Dec 9, 2025 |
| 80581 Belle River Road, Memphis, MI | $205,000 | Nov 25, 2025 |
| 10990 Smiths Creek Road, Memphis, MI | $350,000 | Oct 28, 2025 |
Frequently Asked Questions about Memphis
What is the current real estate inventory in Memphis?
Buyers in Memphis can choose from 1 active listing. The median asking price is $250,000.
What are home prices like in Memphis?
Based on 5 sales in the past year, homes in Memphis have a median price of $250,000.
What is the average days on market in Memphis?
Over the past year, homes in Memphis spent an average of 44 days on market before selling.
Which school districts cover Memphis?
Multiple school districts may serve Memphis. Michigan school district boundaries are independent of city borders. The school district for a specific property depends on its exact location within the city.
How competitive is the Memphis real estate market?
Memphis is currently a seller's market, with 2.4 months of supply. That ratio comes from 1 active listing relative to 5 sales per year.
What are property taxes like in Memphis?
Property taxes in Memphis are based on a property's State Equalized Value (SEV), which is roughly 50% of market value, multiplied by the local millage rate. Homestead properties (primary residences) receive a lower rate than non-homestead. Tax bills are split into summer and winter installments.
Is housing demand growing in Memphis?
Census demographic data shows a +18.2% Household Formation Gap in Memphis. As average household size fell from 2.42 to 2.28, the estimated number of households grew by 75. Population grew 11.4% over the same period. HFG is a secondary market indicator reflecting household formation trends, distinct from primary indicators like comparative market analysis.