Market Numbers Made an Improvement from May

Per the June 2019 Market Report

Published Friday, July 5, 2019
 

MEMPHIS, Tenn., July 5, 2019 – Memphis-area home sales for June decreased 4.8 percent from a year ago, with 1,869 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 10.2 percent from May, when there were 1,696 total sales. Average sales price from June-to-June was up 7.6 percent, at $217,434. Inventory increased 3.3 percent, with 4,251 units listed for sale. Year-to-Date sales volume was down 1.7 percent at $1.72 billion.

June Comparison

 

2019

2018

Percentage Change

Total Home Sales

1,869 1,964 - 4.8%

Median Sales Price

$179,500 $167,500 7.2%

Average Sales Price

$217,434 $202,010 7.6%

Monthly Sales Volume

$406.4 million $396.7 million 2.4%

 

Year-to-Date Comparison

 

2019

2018

Percentage Change

Total Home Sales

9,316 9,578 - 2.7%

Median Sales Price

$149,900 $145,900 2.7%

Average Sales Price

$184,952 $182,485 1.3%

Monthly Sales Volume

$1.72 billion $1.75 billion - 1.7%

"Total sales made a nice jump from May to June," said MAAR President Lee McWaters. "And the monthly sales volume for June was up over last year. Some of that was due to new home sales going up 12 percent."

Historical home sale statistics are also available for comparison.