MEMPHIS, Tenn., Jan. 31, 2019 – (RealEstateRama) — Memphis-area home sales for December decreased 1.0 percent from a year ago, with 1,433 total sales recorded in the Memphis Area Association of REALTORS®MAARdata property records database. ales were down 5.7 percent from November, when there were 1,519 total sales.
Average sales price from December-to-December was down 2.7 percent, at $174,835. Inventory decreased 5.9 percent, with 4,050 units listed for sale. Year-to-Date sales volume for 2018 was up 6.0 percent at $3.54 billion.
» SEE THE DECEMBER MARKET REPORT HERE.
December Comparison
| 2018 | 2017 | % Change | |
| Total Home Sales | 1,433 | 1,447 | -1.0% |
| Median Sales Price | $138,000 | $144,000 | -4.2% |
| Average Sales Price | $174,835 | $179,774 | -2.7% |
| Monthly Sales Volume | $250.5 million | $260.1 million | -3.7% |
Year-to-Date Comparison
| 2018 | 2017 | % Change | |
| Total Home Sales | 19,734 | 19,308 | 2.2% |
| Median Sales Price | $148,000 | $139,000 | 6.5% |
| Average Sales Price | $182,465 | $173,219 | 5.3% |
| Monthly Sales Volume | $3.54 billion | $3.34 billion | 6.0% |
Historical home sale statistics are also available for comparison.
“It was a good year for the local market,” said 2018 MAAR President Lauren Wiuff. “Everything was up, across the board.”
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 3,400 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 single-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.
