MEMPHIS, Tenn., – December 11, 2013 – (RealEstateRama) — Memphis-area home sales for November were down 2.9 percent from a year ago, with 1,154 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales declined 16.3 percent from October. Average sales price YTD rose 10.7 percent to $143,341. Inventory was down 1.7 percent with 6,504 units listed for sale. Sales volume YTD increased 19.4 percent to $2.15 billion.
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» GET THE NOVEMBER MARKET REPORT HERE.
October Comparison
| 2013 | 2012 | % Change | |
| Total Home Sales | 1,154 | 1,189 | -2.9% |
| Median Sales Price | $107,000 | $95,000 | 12.6% |
| Average Sales Price | $144,608 | $130,805 | 10.6% |
| Monthly Sales Volume | $166.9 million | $155.5 million | 7.3% |
Year-to-Date Comparison
| 2013 | 2012 | % Change | |
| Total Home Sales | 15,049 | 13,940 | 8.0% |
| Median Sales Price | $105,000 | $89,900 | 16.8% |
| Average Sales Price | $143,341 | $129,499 | 10.7% |
| Monthly Sales Volume | $2.15 billion | $1.80 billion | 19.4% |
Historical home sales statistics are located at maar.org/marketreports.
“Sales increased from September to October, so the market remains very active into autumn,” said MAAR President Regina Hubbard. “And average sales price was up a good bit from this time last year.”
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 3,000 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.
Contact Don Wade, Media Relations & Research, 901.485.1653.
