Home Sales Up from a Year Ago

Per the September Market Report

 Market Reports, Media Releases, Memphis-Area Market

Published Tuesday, October 8, 2019
 

MEMPHIS, Tenn., Oct. 7, 2019 – Memphis-area home sales for September increased 6.2 percent from a year ago, with 1,669 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 13.2 percent from August, when there were 1,922 total sales. Average sales price from September-to-September was up 5.2 percent, at $194,158. Inventory decreased 1.9 percent, with 4,213 units listed for sale. Year-to-Date sales volume was up 2.5 percent at $2.83 billion.

September Comparison

 

2019

2018

Percentage Change

Total Home Sales

1,669 1,571  6.2%

Median Sales Price

$161,000 $152,000 5.9%

Average Sales Price

$194,158 $184,596 5.2%

Monthly Sales Volume

$324.0 million $290.0 million 11.7%

 

Year-to-Date Comparison

 

2019

2018

Percentage Change

Total Home Sales

14,882 14,926 - 0.3%

Median Sales Price

$155,000 $150,000 3.3%

Average Sales Price

$190,360 $184,594 3.1%

Monthly Sales Volume

$2.83 billion $2.76 billion 2.5%

"September was a strong month," said MAAR President Lee McWaters. "Everything was up over last year. The market really isn’t slowing down as summer gives way to fall."

Historical home sale statistics are also available for comparison.