OFFICE CLOSURE: The office will be closed on Friday, Apr. 19. We will re-open for normal business hours on Monday, Apr. 22.

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.