Market Boasts Good Numbers in July

The July Market Report Is Out

Published Thursday, August 8, 2019
 

MEMPHIS, Tenn., Aug. 7, 2019 – Memphis-area home sales for July increased 4.6 percent from a year ago, with 1,942 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 3.9 percent from June, when there were 1,869 total sales. Average sales price from July-to-July was up 4.9 percent, at $207,412. Inventory increased 3.2 percent, with 4,385 units listed for sale. Year-to-Date sales volume was up 0.9 percent at $2.13 billion.

July Comparison

 

2019

2018

Percentage Change

Total Home Sales

1,942 1,857  4.6%

Median Sales Price

$172,500 $164,000 5.2%

Average Sales Price

$207,412 $197,761 4.9%

Monthly Sales Volume

$402.8 million $367.2 million 9.7%

 

Year-to-Date Comparison

 

2019

2018

Percentage Change

Total Home Sales

11,277 11,435 - 1.4%

Median Sales Price

$152,750 $149,900 1.9%

Average Sales Price

$189,046 $184,966 2.2%

Monthly Sales Volume

$2.13 billion $2.11 billion 0.9%

"Sales and pricing were strong and inventory climbed," said MAAR President Lee McWaters. "There are a lot of opportunities in the market."

Historical home sale statistics are also available for comparison.