Home Sales Up from September

Per the October Market Report

 Market Reports, Media Releases, Memphis-Area Market

Published Friday, November 8, 2019
 

MEMPHIS, Tenn., Nov. 7, 2019 – Memphis-area home sales for October decreased 8.2 percent from a year ago, with 1,710 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 2.5 percent from September when there were 1,669 total sales. Average sales price from October-to-October was up 5.2 percent, at $187,268. Inventory decreased 3.1 percent, with 4,083 units listed for sale. Year-to-Date sales volume was up 2.3 percent at $3.16 billion.

October Comparison

 

2019

2018

Percentage Change

Total Home Sales

1,710 1,862  - 8.2%

Median Sales Price

$143,000 $147,000 - 2.7%

Average Sales Price

$187,268 $177,956 5.2%

Monthly Sales Volume

$320.3 million $331.3 million - 3.3%

 

Year-to-Date Comparison

 

2019

2018

Percentage Change

Total Home Sales

16,599 16,790 - 1.1%

Median Sales Price

$155,000 $150,000 3.3%

Average Sales Price

$190,221 $183,846 3.5%

Monthly Sales Volume

$3.16 billion $3.09 billion 2.3%

"Sales ticked up from September to October," said MAAR President Lee McWaters. "And year-to-date sales volume is ahead of 2018."

Historical home sale statistics are also available for comparison.