December Market Report
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December Market Report

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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.

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