The February Market Report Has Been Released

Numbers Up Across the Board

Published Friday, March 8, 2019
 

MEMPHIS, Tenn., March 7, 2019 – Memphis-area home sales for February increased 3.4 percent from a year ago, with 1,252 total sales recorded in the Memphis Area Association of  REALTORS® MAARdata property records database. Sales were up 0.2 percent from January, when there were 1,249 total sales. Average sales price from February-to-February was up 7.6 percent, at $171,757. Inventory increased 4.3 percent, with 3,786 units listed for sale. Year-to-Date sales volume was up 2.3 percent at $419.3 million.

February Comparison

 

2019

2018

Percentage Change

Total Home Sales

1,252 1,211 3.4%

Median Sales Price

$130,000 $117,900 10.3%

Average Sales Price

$171,757 $159,626 7.6%

Monthly Sales Volume

$215 million $193.3 million 11.2%

 

Year-to-Date Comparison

 

2019

2018

Percentage Change

Total Home Sales

2,501 2,498 0.1%

Median Sales Price

$128,600 $125,000 2.9%

Average Sales Price

$167,638 $164,134 2.1%

Monthly Sales Volume

$419.3 million $410 million 2.3%

"All the numbers were up across the board," said MAAR President Lee McWaters. "That’s really encouraging given that the spring selling season hasn’t even started yet."

Historical home sale statistics are also available for comparison.