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 Sales Price

$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.