Shelby County’s six suburban municipalities — Arlington, Bartlett, Collierville, Germantown, Lakeland and Millington — once again saw fewer homes sold last year than during the previous year.
But all except two saw increases in median home price, according to information provided by the Memphis Area Association of Realtors.
Here is a look at what it costs to buy a house in the Memphis suburbs, from the most expensive municipality to the least.
Collierville
As in 2022, Collierville was the most expensive Shelby County suburb to buy a home in 2023. The median sales price increased 3.8% year-over-year from $501,000 in 2022 to $520,000 in 2023.
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Lakeland
Lakeland once again was the second-most expensive suburb to buy a home. Lakeland saw a 6.3% rise in median sales price. In 2022, the median sales price in the city was $485,000. Last year, that rose to $515,500.
Germantown
Germantown registered a 5.6% increase in median home sales price, going from $450,000 in 2022 to $475,000 in 2023.