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May Market Report Shows Sales Are Up

MEMPHIS, Tenn., June 8, 2013 – Memphis-area home sales for May increased 1.6 percent from a year ago, with 1,473 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales increased 6.3 percent from April. Average sales price year-over-year rose 10.6 percent at $139,779. Inventory was flat with 6,483 units listed for sale. Sales volume YTD increased 18.9 percent to $825.6 million.

 

»  GET THE MAY MARKET REPORT HERE.

 

May Comparison

2013

2012

% Change
Total Home Sales

1,473

1,450

1.6%
Median Sales Price

$102,000

$84,900

20.1%
Average Sales Price

$139,779

$126,432

10.6%
Monthly Sales Volume $205.9 million $183.3 million 12.3%

 

 

Year-to-Date Comparison

2013

2012

% Change
Total Home Sales

6,263

5,781

8.3%
Median Sales Price

$93,400

$80,000

16.9%
Average Sales Price

$131,824

$120,144

9.7%
Monthly Sales Volume $825.6 million $694.5 million 18.9%

Historical home sales statistics are located at maar.org/marketreports.

“The Memphis housing market is in a pretty good place,” said MAAR President Regina Hubbard. “Sales are ahead of last year and average sales price is up around 10 percent. And we’re just now headed into summer.”

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