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Amid Pandemic, Sales See an Increase

Positive Numbers to Close Out the Year

 Market Reports, Media Releases, Memphis-Area Market

Published Tuesday, January 12, 2021
 

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.