Realtors in Memphis are seeing signs of stabilization in the Memphis market. Home sales in Memphis for September were 1,107 homes, down 3.1% from last year. The median sales price for homes in September was $120,000, down 11.1% from $135,000 in 2007. The average sales price was $142,000 down 17% from $171,000 last year. Active listings declined 3.6% from August 2008 and 9.5% from September 2007 to fall below 12,000 units for the first time since December.