Prices Up; Market Remains Strong

Sales Stats from August

 Market Reports, Media Releases, Memphis-Area Market

Published Monday, September 9, 2019 9:00 am
 

MEMPHIS, Tenn., Sept. 6, 2019 – Memphis-area home sales for August increased 0.2 percent from a year ago, with 1,922 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 1.0 percent from July, when there were 1,942 total sales. Average sales price from August-to-August was up 6.7 percent, at $194,673. Inventory decreased 2.1 percent, with 4,293 units listed for sale. Year-to-Date sales volume was up 2.0 percent at $2.51 billion.

August Comparison

 

2019

2018

Percentage Change

Total Home Sales

1,922 1,919  0.2%

Median Sales Price

$162,000 $150,000 8.0%

Average Sales Price

$194,673 $182,434 6.7%

Monthly Sales Volume

$374.2 million $350.1 million 6.9%

 

Year-to-Date Comparison

 

2019

2018

Percentage Change

Total Home Sales

13,202 13,354 - 1.1%

Median Sales Price

$155,000 $150,000 3.3%

Average Sales Price

$189,828 $184,588 2.8%

Monthly Sales Volume

$2.51 billion $2.46 billion 2.0%

"Total sales are pretty close to 2018," said MAAR President Lee McWaters. "Pricing is up, so the market remains competitive."

Historical home sale statistics are also available for comparison.