June Market Report

June Market Report

MEMPHIS, Tenn., July 8, 2018 – (RealEstateRama) — Memphis-area home sales for June decreased 0.2 percent from a year ago, with 1,939 total sales recorded in the Memphis Area Association of REALTORS®MAARdata property records database. Sales were up 2.0 percent from May when there were 1,901 total sales. Average sales price from June-to-June was up 7.5 percent, at $200,193. Inventory increased 4.2 percent, with 4,347 units listed for sale. Year-to-Date sales volume was up 12.3 percent at $1.74 billion.

MAAR

» SEE THE JUNE MARKET REPORT HERE.

June Comparison

2018 2017 % Change
Total Home Sales 1,939 1,943 -0.2%
Median Sales Price $165,000 $155,00 6.5%
Average Sales Price $200,193 $186,246 7.5%
Monthly Sales Volume $388.2 million $361.9 million 7.3%

 

 

Year-to-Date Comparison

2018 2017 % Change
Total Home Sales 9,544 9,311 2.5%
Median Sales Price $145,000 $132,350 9.6%
Average Sales Price $181,902 $166,185 9.5%
Monthly Sales Volume $1.74 billion $1.55 billion 12.3%

Historical home sale statistics are also available for comparison.

“Inventory is begging to climb, which means even more options for buyers,” said MAAR President Lauren Wiuff. “On the sellers’ side, return remains strong.”

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.

Contact Don Wade, Media Relations & Research, 901.485.1653.

SHARE
MAAR

The Memphis Area Association of REALTORS® (MAAR) is Tennessee's largest local REALTOR® organization, encompassing Shelby, Fayette, Tipton, Hardin, Hardeman and McNairy Counties. Founded by eight charter members in 1910, MAAR recently celebrated its 100th anniversary. MAAR's focus is serving and representing real estate professionals as well as providing real estate information to the general public.

Previous articleCabinets To Go Expanding in Lawrenceburg