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October Market Report Released

YTD Numbers Ahead of October 2020

 Market Reports, Media Releases, Memphis-Area Market

Published Friday, November 5, 2021
 

MEMPHIS, Tenn., November 4, 2021 – Memphis-area home sales for October increased 5.1 percent from a year ago, with 1,929 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 10.2 percent from September, when there were 2,149 total sales. Average sales price from October-to-October was up 3.0 percent, at $249,100. Inventory decreased 5.7 percent, with 2,384 units listed for sale. Year-to-Date sales volume increased 28.4 percent, at $4.43 billion.

October Comparison

 

2021

2020

Percentage Change

Total Home Sales

1,929 1,835 5.1%

Median Sales Price

$215,000 $195,000 10.3%

Average Sales Price

$249,100 $241,758 3.0%

Monthly Sales Volume

$480.5 million $443.6 million 8.3%

 

Year-to-Date Comparison

 

2021

2020

Percentage Change

Total Home Sales

18,714 16,184 15.6%

Median Sales Price

$200,500 $176,000 13.9%

Average Sales Price

$236,654 $213,426 10.9%

Monthly Sales Volume

$4.43 billion $3.45 billion 28.4%

"We're in the last quarter of the year now and the numbers are way ahead of 2020," said MAAR President Cassandra Bell-Warren. "It has been a strong year for the residential market."

Historical home sale statistics are also available for comparison.