Strong Market Heading into the Holidays

Numbers from November Remain Up

 Market Reports, Media Releases, Memphis-Area Market

Published Tuesday, December 14, 2021
 

MEMPHIS, Tenn., December 13, 2021 – Memphis-area home sales for November increased 1.1 percent from a year ago, with 1,716 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 11.0 percent from October, when there were 1,929 total sales. Average sales price from November-to-November was up 16.3 percent, at $252,938. Inventory decreased 1.5 percent, with 2,348 units listed for sale. Year-to-Date sales volume increased 27.2 percent, at $4.86 billion.

November Comparison

 

2021

2020

Percentage Change

Total Home Sales

1,716 1,698 1.1%

Median Sales Price

$225,000 $179,000 25.7%

Average Sales Price

$252,938 $217,494 16.3%

Monthly Sales Volume

$434.0 million $369.3 million 17.5%

 

Year-to-Date Comparison

 

2021

2020

Percentage Change

Total Home Sales

20,441 17,885 14.3%

Median Sales Price

$204,600 $176,000 16.3%

Average Sales Price

$238,046 $213,801 11.3%

Monthly Sales Volume

$4.86 billion $3.82 billion 27.2%

"Even with the market slowing a bit during the holidays, like it always does, the numbers are still strong," said MAAR President Cassandra Bell-Warren.

Historical home sale statistics are also available for comparison.