MEMPHIS, Tenn., Jan. 11, 2021 – Memphis-area home sales for December increased 10.7 percent from a year ago, with 1,796 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 6.3 percent from November, when there were 1,690 total sales. Average sales price from December-to-December was up 17.8 percent, at $223,843. Inventory decreased 9.1 percent, with 2,403 units listed for sale. Year-to-Date sales volume increased 12.8 percent, at $4.22 billion.
December Comparison
2020 |
2019 |
Percentage Change |
|
Total Home Sales |
1,796 | 1,622 | 10.7% |
Median Sales Price |
$182,000 | $157,000 | 15.9% |
Average Sales Price |
$223,843 | $189,972 | 17.8% |
Monthly Sales Volume |
$402.0 million | $308.1 million | 30.5% |
Year-to-Date Comparison
2020 |
2019 |
Percentage Change |
|
Total Home Sales |
19,660 | 19,589 | 0.4% |
Median Sales Price |
$177,000 | $155,000 | 14.2% |
Average Sales Price |
$214,516 | $190,971 | 12.3% |
Monthly Sales Volume |
$4.22 billion | $3.74 billion | 12.8% |
"To have more total sales in 2020 than the previous year, amid a pandemic, is remarkable," said 2021 MAAR President Cassandra Bell-Warren. "Across the board—total sales, pricing, and sales volume—the numbers were up from 2019."
Historical home sale statistics are also available for comparison.