November Market Report

MEMPHIS, Tenn., – December 10, 2015 – (RealEstateRama) — Memphis-area home sales for November increased 4.9 percent from a year ago, with 1,086 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 18.7 percent from October, when there were 1,336 total sales. Average sales price from November-to-November was up 5.9 percent, at $157,736. Inventory decreased 3.3 percent, with 6,086 units listed for sale. Monthly sales volume YTD increased 7.7 percent to $2.38 billion.

»  GET THE NOVEMBER MARKET REPORT HERE.

November Comparison

2015 2014 % Change
Total Home Sales 1,086 1,035 4.9%
Median Sales Price $117,150 $115,000 1.9%
Average Sales Price $157,736 $149,914 5.9%
Monthly Sales Volume $171.3 million $154.1 million 11.2%

Year-to-Date Comparison

2015 2014 % Change
Total Home Sales 14,954 14,343 4.3%
Median Sales Price $125,000 $120,000 4.2%
Average Sales Price $159,054 $154,258 3.1%
Monthly Sales Volume $2.38 billion $2.21 billion 7.7%

Historical home sales statistics are located at maar.org/marketreports.
“Clearly, we had a stronger November than in 2014,” said MAAR President Thomas Murphree. “And year to date, the numbers are solid.”

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.

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