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Sales Remain Down at the Start of the New Year

Memphis Area Market Statistics for January 2019

Published Wednesday, February 6, 2019
 

MEMPHIS, Tenn., Feb. 5, 2019 – Memphis-area home sales for January decreased 2.9 percent from a year ago, with 1,249 total sales recorded in the Memphis Area Association of  REALTORS® MAARdata property records database. Sales were down 12.8 percent from December, when there were 1,433 total sales. Average sales price from January-to-January was down 3.0 percent, at $163,515. Inventory decreased 10.4 percent, with 3,630 units listed for sale. Year-to-Date sales volume was down 5.9 percent at $204.2 million.

January Comparison

 

2019

2018

Percentage Change

Total Home Sales

1,249 1,287 - 2.9%

Median Sales Price

$125,000 $134,900 - 7.3%

Average Sales Price

$163,515 $168,503 - 3.0%

Monthly Sales Volume

$204.2 million $216.9 million - 5.9%

 

Year-to-Date Comparison

 

2019

2018

Percentage Change

Total Home Sales

1,249 1,287 - 2.9%

Median Home Sales

$125,000 $134,900 - 7.3%

Average Sales Price

$163,515 $168,503 - 5.3%

Monthly Sales Volume

$204.2 million $216.9 million - 5.9%

“We had a very solid year in 2018 and new home sales for January were up 15.8 percent over last year,” said 2019 MAAR President Lee McWaters. “That’s a positive sign and I do believe we will see a significant rise in the overall inventory going forward.”

Historical home sale statistics are also available for comparison.