July Market Report

MEMPHIS, Tenn., August 21, 2017 – (RealEstateRama) — Memphis-area home sales for July increased 4.5 percent from a year ago, with 1,747 total sales recorded in the Memphis Area Association of REALTORS®MAARdata property records database. Sales were down 7.4 percent from June when there were 1,887 total sales. Average sales price from July-to-July was down 0.7 percent, at $180,432. Inventory increased 0.8 percent, with 4,815 units listed for sale. Year-to-Date sales volume was up 12.7 percent at $1.86 billion.

» GET THE JULY MARKET REPORT HERE.

July Comparison

2017 2016 % Change
Total Home Sales 1,747 1,672 4.5%
Median Sales Price $150,000 $148,000 1.4%
Average Sales Price $180,432 $181,778 -0.7%
Monthly Sales Volume $312.2 million $303.9 million 3.7%

 

 

Year-to-Date Comparison

2017 2016 % Change
Total Home Sales 11,041 10,159 8.7%
Median Sales Price $135,000 $132,000 2.3%
Average Sales Price $168,353 $162,878 3.4%
Monthly Sales Volume $1.86 billion $1.65 billion 12.7%

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

“Another strong month,” said MAAR President Tommie Criswell. “We’re well ahead of last year’s pace.”

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 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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