Memphis Market Closes Out the Decade Strong

Numbers Were Way Up in December

 Market Reports, Media Releases, Memphis-Area Market

Published Wednesday, January 8, 2020
 

MEMPHIS, Tenn., Jan. 8, 2020 – Memphis-area home sales for December increased 12.7 percent from a year ago, with 1,617 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 19.2 percent from November when there were 1,356 total sales. Average sales price from December-to-December was up 7.2 percent, at $188,517. Inventory decreased 8.2 percent, with 3,682 units listed for sale. Year-to-Date sales volume was up 3.6 percent at $3.73 billion.

December Comparison

 

2019

2018

Percentage Change

Total Home Sales

1,617 1,435  12.7%

Median Sales Price

$155,000 $139,000 11.5%

Average Sales Price

$188,517 $175,850 7.2%

Monthly Sales Volume

$304.8 million $252.3 million 20.8%

 

Year-to-Date Comparison

 

2019

2018

Percentage Change

Total Home Sales

19,589 19,750 - 0.8%

Median Sales Price

$155,000 $148,000 4.7%

Average Sales Price

$190,488 $182,628 4.3%

Monthly Sales Volume

$3.73 billion $3.60 billion 3.6%

"What a strong finish to the year," said MAAR President Lee McWaters. "Almost 13 percent more sales this December than in 2018. And a jump of more than 19 percent from November."

Historical home sale statistics are also available for comparison.