MEMPHIS, Tenn., Nov. 21, 2020 – Memphis-area home sales for October increased 6.4 percent from a year ago, with 1,829 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 0.9 percent from September, when there were 1,813 total sales. Average sales price from October-to-October was up 27.9 percent, at $241,213. Inventory decreased 2.0 percent, with 2,805 units listed for sale. Year-to-Date sales volume increased 8.9 percent, at $3.44 billion.
October Comparison
2020 |
2019 |
Percentage Change |
|
Total Home Sales |
1,829 | 1,719 | 6.4% |
Median Sales Price |
$194,900 | $145,000 | 34.4% |
Average Sales Price |
$241,213 | $188,641 | 27.9% |
Monthly Sales Volume |
$441.2 million | $324.3 million | 36.5% |
Year-to-Date Comparison
2020 |
2019 |
Percentage Change |
|
Total Home Sales |
16,156 | 16,604 | -2.7% |
Median Sales Price |
$175,000 | $155,000 | 12.9% |
Average Sales Price |
$213,119 | $190,616 | 11.8% |
Monthly Sales Volume |
$3.44 billion | $3.16 billion | 8.9% |
"The market remains incredibly active and values continue to rise," said Kathryn Garland, MAAR President. "To have 6.4 percent more sales in October of 2020 than at this time last year is pretty amazing."
Historical home sale statistics are also available for comparison.