Is Memphis, MI 48041 a buyer’s or seller’s market?
Memphis is a seller’s market. With about 1.3 months of supply and 40% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Memphis housing market right now
In the three months ending August 31, 2026, 40% of homes in Memphis, MI 48041 sold above their list price, the typical home went under contract in 20 days and there were 1.3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 10 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 57%, homes sold about as fast and the median sale price fell 22% to $281,378. Overall, Memphis is less competitive than a year ago, which gives buyers more room.
Within St. Clair County, homes here sell faster than in 50% of the county’s ZIP codes, and sell more often over asking than in 60%.
Nearby, buyers who want less competition could look at Jeddo 48032 (0% sold over asking) or Harsens Island 48028 (0% sold over asking), while Casco 48064 (70% sold over asking) and Emmett 48022 (50% sold over asking) are even more competitive.
Run the numbers for 48041
Nearby markets
Algonac 48001Seller’s market $207 /sq ftAllenton 48002Seller’s market $214 /sq ftAvoca 48006Seller’s market $169 /sq ftCapac 48014Seller’s market $180 /sq ft Browse all markets →Towns like Memphis nearby
Find towns like Memphis in other states →Where Memphis is
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Questions about Memphis real estate
Is Memphis a buyer’s or seller’s market?
A seller’s market: there were 1.3 months of supply in Memphis, MI 48041 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Memphis?
The typical home went under contract in 20 days in the latest three months.
Do homes in Memphis sell over asking?
40% of homes sold above their original list price, and the typical sale closed at 99.6% of the list price.
What are property taxes in Memphis?
About 1.14% of a home’s value a year in St. Clair County, or roughly $4,560 on a $400,000 home.
What is the median home price in Memphis?
The median sale price was $281,378 in the three months ending August 31, 2026, about $188 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology