OFFICE CLOSURE: The office will be closed on Monday, Feb. 18. We will re-open for normal business hours on Tuesday, Feb. 19.

November Sales Cool as the Year Winds Down

Memphis Area Market Statistics for November 2018

Published Friday, December 7, 2018
 

MEMPHIS, Tenn., Dec. 7, 2018 – Memphis-area home sales for November decreased 3.9 percent from a year ago, with 1,519 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 18.1 percent from October, when there were 1,854 total sales. Average sales price from November-to-November was down 1.2 percent, at $174,496. Inventory decreased 2.8 percent, with 4,301 units listed for sale. Year-to-Date sales volume was up 8.8 percent at $3.35 billion.

November Comparison

 

2018

2017

Percentage Change

Total Home Sales

1,519 1,581 - 3.9%

Median Sales Price

$139,900 $145,000 - 3.5%

Average Sales Price

$174,496 $176,679 - 1.2%

Monthly Sales Volume

$265.1 million $279.3 million - 5.1%

 

Year-to-Date Comparison

 

2018

2017

Percentage Change

Total Home Sales

18,298 17,862 2.4%

Median Home Sales

$149,000 $138,501 7.6%

Average Sales Price

$183,011 $172,683 6.0%

Monthly Sales Volume

$3.35 billion $3.08 billion 8.8%

“Year-to-date, the numbers are strong,” said MAAR President Lauren Wiuff. “With the holidays, the market will slow down a little bit.”

Historical home sale statistics are also available for comparison.