September Market Report Shows Strong Market

Sales Were Up from This Time Last Year

 Market Reports, Media Releases, Memphis-Area Market

Published Wednesday, October 7, 2020
 

MEMPHIS, Tenn., Oct. 7, 2020 – Memphis-area home sales for September increased 7.9 percent from a year ago, with 1,813 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 0.7 percent from August when there were 1,825 total sales. Average sales price from September-to-September was up 14.7 percent, at $224,713. Inventory decreased 0.5 percent, with 2,863 units listed for sale. Year-to-Date sales volume increased 5.6 percent, at $3.00 billion.

September Comparison

 

2020

2019

Percentage Change

Total Home Sales

1,813 1,681 7.9%

Median Sales Price

$187,500 $163,000 15.0%

Average Sales Price

$224,713 $195,996 14.7%

Monthly Sales Volume

$407.4 million $329.5 million 23.6%

 

Year-to-Date Comparison

 

2020

2019

Percentage Change

Total Home Sales

14,314 14,886 -3.8%

Median Sales Price

$174,900 $155,000 12.8%

Average Sales Price

$209,328 $190,832 9.7%

Monthly Sales Volume

$3.00 billion $2.84 billion 5.6%

"Sales were up almost 8 percent from the same time a year ago when there wasn’t a pandemic," said Kathryn Garland, MAAR President. "And average sales price continues to rise."

Historical home sale statistics are also available for comparison.