December Market Report

MEMPHIS, Tenn. – January 14, 2015 – (RealEstateRama) — Memphis-area home sales for December decreased 0.9 percent from a year ago, with 1,367 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 25.9 percent from November, when there were 1,086 total sales. Average sales price from December-to-December was up 9.0 percent, at $156,102. Inventory decreased 4.8 percent, with 5,793 units listed for sale. Monthly sales volume YTD increased 7.9 percent to $2.60 billion for the whole of 2015.

»  GET THE DECEMBER MARKET REPORT HERE.

December Comparison

2015 2014 % Change
Total Home Sales 1,367 1,380 -0.9%
Median Sales Price $123,500 $113,000 9.3%
Average Sales Price $156,102 $143,274 9.0%
Monthly Sales Volume $213.4 million $197.7 million 7.9%

Year-to-Date Comparison

2015 2014 % Change
Total Home Sales 16,347 15,723 4.0%
Median Sales Price $125,000 $120,000 4.2%
Average Sales Price $158,945 $153,294 3.7%
Monthly Sales Volume $2.60 billion $2.41 billion 7.9%

Historical home sales statistics are located at maar.org/marketreports.

“All in all, it was a pretty solid year,” said MAAR President Joe Steffner. “Definitely encouraged as we start 2016.”

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 3,100 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.

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