Good Start to 2020 as Home Sales Increase

Per the January Market Report

 Market Reports, Media Releases, Memphis-Area Market

Published Monday, February 10, 2020
 

MEMPHIS, Tenn., Feb. 6, 2020 – Memphis-area home sales for January increased 7.7 percent from a year ago, with 1,345 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 16.8 percent from December, when there were 1,617 total sales. Average sales price from January-to-January was up 8.3 percent, at $177,108. Inventory decreased 8.7 percent, with 3,360 units listed for sale. Year-to-Date sales volume was up 16.6 percent at $238.2 million.

January Comparison

 

2020

2019

Percentage Change

Total Home Sales

1,345 1,249  7.7%

Median Sales Price

$140,000 $125,900 12.0%

Average Sales Price

$177,108 $163,536 8.3%

Monthly Sales Volume

$238.2 million $204.3 million 16.3%

 

Year-to-Date Comparison

 

2020

2019

Percentage Change

Total Home Sales

1,345 1,245 7.7%

Median Sales Price

$140,000 $125,000 12.0%

Average Sales Price

$177,108 $163,536 8.3%

Monthly Sales Volume

$238.2 million $204.3 million 16.6%

"A pretty nice start to the year," said Kathryn Garland, MAAR President. "Sales and pricing are ahead of where they were in January of 2019."

Historical home sale statistics are also available for comparison.