Positive Numbers in the March Market Report

Numbers Were Up Across the Board

Published Friday, April 5, 2019
 

MEMPHIS, Tenn., April 4, 2019 – Memphis-area home sales for March increased 3.1 percent from a year ago, with 1,530 total sales recorded in the Memphis Area Association of  REALTORS® MAARdata property records database. Sales were up 22.2 percent from February, when there were 1,252 total sales. Average sales price from March-to-March was up 0.2 percent, at $173,814. Inventory increased 0.5 percent, with 3,806 units listed for sale. Year-to-Date sales volume was up 2.7 percent at $685.5 million.

March Comparison

 

2019

2018

Percentage Change

Total Home Sales

1,530 1,484 3.1%

Median Sales Price

$135,250 $135,000 0.2%

Average Sales Price

$173,814 $173,505 0.2%

Monthly Sales Volume

$265.9 million $257.5 million 3.3%

 

Year-to-Date Comparison

 

2019

2018

Percentage Change

Total Home Sales

4,032 3,982 1.3%

Median Sales Price

$131,000 $130,000 0.8%

Average Sales Price

$173,814 $167,627 1.4%

Monthly Sales Volume

$685.5 million $667.5 million 2.7%

"Sales took a nice jump from February," said MAAR President Lee McWaters. "The market’s getting busier again."

Historical home sale statistics are also available for comparison.