November Market Report
MEMPHIS, TN – December 8, 2011 – (RealEstateRama) — Memphis-area home sales for November jumped 28.4 percent from a year ago, with 1,076 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales rose 2.1 percent from October, when there were 1,054 sales. Average sales price year-over-year was down 15.2 percent and year-to-date was also down 2.6 percent at $125,504. YTD total sales declined 8.3 percent. Inventory was down 4.7 percent from the previous month, with 7,673 units listed for sale. YTD sales volume fell 10.8 percent to $1.49 billion.
November Comparison
| 2011 | 2010 | % Change | |
| Total Home Sales | 1,076 | 838 | 28.4% |
| Median Sales Price | $80,000 | $100,000 | -20.0% |
| Average Sales Price | $119,287 | $140,696 | -15.2% |
| Monthly Sales Volume | $128.4 million | $117.9 million | 8.9% |
Year-to-Date Comparison
| 2011 | 2010 | % Change | |
| Total Home Sales | 11,887 | 12,963 | -8.3% |
| Median Sales Price | $85,400 | $93,000 | -8.2% |
| Average Sales Price | $125,504 | $128,845 | -2.6% |
| Sales Volume | $1.49 billion | $1.67 billion | -10.8% |
Historical home sales statistics are located at www.maar.org/marketreports.
“Sales in November of 2010 were really light, so that has something to do with the huge percentage increase in sales this November,” said MAAR President Leon Dickson. “But it is encouraging that the market was more active.”
Serving the Mid-South for more than 100 years as the Voice for Local Real Estate, the Memphis Area Association of REALTORS® serves and represents real estate professionals as well as provides real estate information to the general public. About 3,500 members unite to make up one of Tennessee’s largest local REALTOR® organizations with real estate expertise stretching throughout the greater Memphis area. The MAARdata system includes records of all property transactions in Shelby, Fayette and Tipton counties. The MLS includes listings in Shelby, Fayette, Tipton, Hardeman, Hardin, McNairy, and Lauderdale counties in Tennessee; DeSoto County in Mississippi; and Crittenden County in Arkansas.
MAAR members subscribe to the National Association of REALTORS® Code of Ethics. For more information, visit MAAR’s Web site at www.maar.org.
Contact:
Research Director Don Wade, 901.818.2434.
don.wade (at) maar (dot) org
No related posts.
Recent Posts
-
- New listing notification just one of the many IDX tools advancing online real estate search for David Hamilton
- Efficient and effective IDX Broker software simplifies online property search for Tennessee buyers
- IDX, Inc. syncs Tennessee real estate market to website of Agent TC Haynes
- FEMA Specialists to Offer Rebuilding Advice at Local Home Improvement Stores
- March 2012 Market Report
Popular Posts
-
- West Knox plan raises concern
- Boutique Community, a First for Knoxville Area
- Weingarten Realty Announces Target as Anchor for Ridgeway Trace Development
- HUD announces $46 million for affordable housing and community development in Tennessee
- DCT Industrial Trust Leases 250,000 Square Feet of Nashville Development
- FEMA Experts To Offer Advice At Bradley And Hamilton County Home Improvement Stores
- Congressman Cohen Announces $220,500 HUD Grant for City of Memphis
- Cohen Announces More Than $5 Million to Combat Foreclosures, Rehabilitate Housing
- Custom IDX solution employed on Tennessee property management website
- Sevierville Attorney Indicted in Wire and Bank Fraud Conspiracy and Money Laundering in $6 Million Mortgage Fraud Scheme
[...] November Market Report [...]