Sales Drop from November But 2018 Finishes Strong

Memphis Area Market Statistics for December 2018

Published Tuesday, January 8, 2019
 

MEMPHIS, Tenn., Jan. 7, 2019 – Memphis-area home sales for December decreased 1.0 percent from a year ago, with 1,433 total sales recorded in the Memphis Area Association of  REALTORS® MAARdata property records database. Sales were down 5.7 percent from November, when there were 1,519 total sales. Average sales price from December-to-December was down 2.7 percent, at $174,835. Inventory decreased 5.9 percent, with 4,050 units listed for sale. Year-to-Date sales volume for 2018 was up 6.0 percent at $3.54 billion. 

December Comparison

 

2018

2017

Percentage Change

Total Home Sales

1,433 1,447 - 1.0%

Median Sales Price

$138,000 $144,000 - 4.2%

Average Sales Price

$174,835 $179,774 - 2.7%

Monthly Sales Volume

$250.5 million $260.1 million - 3.7%

 

Year-to-Date Comparison

 

2018

2017

Percentage Change

Total Home Sales

19,734 19,308 2.2%

Median Sales Price

$148,000 $139,000 6.5%

Average Sales Price

$182,465 $173,219 5.3%

Monthly Sales Volume

$3.54 billion $3.34 billion 6.0%

“It was a good year for the local market,” said MAAR President Lauren Wiuff. “Everything was up, across the board.”

Historical home sale statistics are also available for comparison.