July Market Report

MEMPHIS, Tenn., Aug. 6, 2015 – Memphis-area home sales for July increased 12.6 percent from a year ago, with 1,685 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 1.3 percent from June, when there were 1,663 total sales. Average sales price from July-to-July was down 3.3 percent at $162,773. Inventory increased 1.0 percent, with 6,539 units listed for sale. Monthly sales volume YTD increased 7.2 percent to $1.48 billion.

»  GET THE JULY MARKET REPORT HERE.

July Comparison

2015 2014 % Change
Total Home Sales 1,685 1,496 12.6%
Median Sales Price $130,000 $135,000 -4.1%
Average Sales Price $162,773 $168,386 -3.3%
Monthly Sales Volume $274.3 million $251.9 million 8.9%

Year-to-Date Comparison

2015 2014 % Change
Total Home Sales 9,414 9,038 4.2%
Median Sales Price $125,255 $118,000 6.1%
Average Sales Price $157,443 $153,215 2.8%
Monthly Sales Volume $1.48 billion $1.38 billion 7.2%
Historical home sales statistics are located at maar.org/marketreports.

“There was a significant jump in sales from last July to this July,” said MAAR President Thomas Murphree. “Year-to-date sales volume continues to climb.”

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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