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Sales See Increase from November 2019

Market Numbers Remain Positive

 Market Reports, Media Releases, Memphis-Area Market

Published Tuesday, December 8, 2020
 

MEMPHIS, Tenn., Dec. 8, 2020 – Memphis-area home sales for November increased 24.2 percent from a year ago, with 1,690 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 7.6 percent from October, when there were 1,829 total sales. Average sales price from November-to-November was up 10.7 percent, at $217,080. Inventory decreased 5.7 percent, with 2,644 units listed for sale. Year-to-Date sales volume increased 11.1 percent, at $3.81 billion.

November Comparison

 

2020

2019

Percentage Change

Total Home Sales

1,690 1,361 24.2%

Median Sales Price

$179,900 $151,000 18.5%

Average Sales Price

$217,080 $196,044 10.7%

Monthly Sales Volume

$366.9 million $266.9 million 37.5%

 

Year-to-Date Comparison

 

2020

2019

Percentage Change

Total Home Sales

17,847 17,965 -0.7%

Median Sales Price

$176,000 $155,000 13.5%

Average Sales Price

$213,520 $191,027 11.8%

Monthly Sales Volume

$3.81 billion $3.43 billion 11.1%

"We had a nice increase in sales from November of 2019," said Kathryn Garland, MAAR President. "Low interest rates continue to make it a good time to buy."

Historical home sale statistics are also available for comparison.