End-of-Year Market Report Released

Sales Up from November 2021

 Market Reports, Media Releases, Memphis-Area Market

Published Monday, January 10, 2022
 

MEMPHIS, Tenn., January 10, 2022 – Memphis-area home sales for December decreased 0.2 percent from a year ago, with 1,809 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 5.4 percent from November, when there were 1,716 total sales. Average sales price from December-to-December was up 19.3 percent, at $268,164. Inventory decreased 7.8 percent, with 2,165 units listed for sale. Year-to-Date sales volume increased 26.7 percent, at $5.36 billion.

December Comparison

 

2021

2020

Percentage Change

Total Home Sales

1,809 1,813 − 0.2%

Median Sales Price

$220,000 $185,000 18.9%

Average Sales Price

$268,164 $224,705 19.3%

Monthly Sales Volume

$485.1 million $407.4 million 19.1%

 

Year-to-Date Comparison

 

2021

2020

Percentage Change

Total Home Sales

22,263 19,698 13.0%

Median Sales Price

$205,000 $177,000 15.8%

Average Sales Price

$240,584 $214,805 12.0%

Monthly Sales Volume

$5.36 billion $4.23 billion 26.7%

"It was a pretty amazing year, with sales up more than 14 percent, and sales volume up almost 27 percent," said MAAR President Cassandra Bell-Warren. "Sellers turned solid profits and low interest rates still gave buyers good opportunities."

Historical home sale statistics are also available for comparison.