June Market Report

MEMPHIS, Tenn., July 9, 2016 – (RealEstateRama) — Memphis-area home sales for June increased 5.9 percent from a year ago, with 1,781 total sales recorded in the Memphis Area Association of REALTORS®MAARdata property records database. Sales were up 15.7 percent from May, when there were 1,539 total sales. Average sales price from June-to-June was up 5.2 percent, at $182,206. Inventory increased 1.9 percent, with 5,639 units listed for sale. YTD sales volume increased by 9.8 percent, at $1.34 billion.

»  GET THE JUNE MARKET REPORT HERE.

May Comparison

2016 2015 % Change
Total Home Sales 1,781 1,682 5.9%
Median Sales Price $150,000 $142,900 5.0%
Average Sales Price $182,206 $173,127 5.2%
Monthly Sales Volume $324.5 million $292.0 million 11.1%

Year-to-Date Comparison

2016 2015 % Change
Total Home Sales 8,436 7,753 8.8%
Median Sales Price $128,900 $125,000 3.1%
Average Sales Price $158,596 $156,714 1.2%
Monthly Sales Volume $1.34 billion $1.22 billion 9.8%

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

“June was a really good month,” said MAAR President Joe Steffner. “And for the year we are well ahead of the 2015 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 3,100 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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