MEMPHIS, Tenn., Mar. 4, 2021 – Memphis-area home sales for February decreased 5.2 percent from a year ago, with 1,225 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 18.7 percent from January, when there were 1,506 total sales. Average sales price from February-to-February was up 10.3 percent, at $200,278. Inventory decreased 6.1 percent, with 1,976 units listed for sale. Year-to-Date sales volume increased 17 percent, at $556.1 million.
February Comparison
2021 |
2020 |
Percentage Change |
|
Total Home Sales |
1,225 | 1,292 | -5.2% |
Median Sales Price |
$163,000 | $140,000 | 16.4% |
Average Sales Price |
$200,278 | $181,631 | 10.3% |
Monthly Sales Volume |
$245.3 million | $234.7 million | 4.5% |
Year-to-Date Comparison
2021 |
2020 |
Percentage Change |
|
Total Home Sales |
2,741 | 2,646 | 3.6% |
Median Sales Price |
$165,000 | $140,000 | 17.9% |
Average Sales Price |
$202,878 | $179,552 | 13.0% |
Monthly Sales Volume |
$556.1 million | $475.1 million | 17.0% |
"The storm halted activity for a week, but even with that we were ahead on sales volume for the month from 2020," said 2021 MAAR President Cassandra Bell-Warren. "And pricing remains strong."
Historical home sale statistics are also available for comparison.