MEMPHIS, Tenn., – May 12, 2014 – (RealEstateRama) — Memphis-area home sales for April declined 7.6 percent from a year ago, with 1,297 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales increased 8.4 percent from March, when there were 1,197 total sales. Average sales price year-over-year increased 7.3 percent to $146,070. Inventory increased 2.8 percent, with 6,088 units listed for sale. YTD sales volume increased 3.9 percent to $645.3 million.
» GET THE APRIL MARKET REPORT HERE.
April Comparison
| 2014 | 2013 | % Change | |
| Total Home Sales | 1,297 | 1,403 | -7.6% |
| Median Sales Price | $113,900 | $95,418 | 19.4% |
| Average Sales Price | $146,070 | $136,070 | 7.3% |
| Monthly Sales Volume | $189.5 million | $190.7 million | -0.7% |
Year-to-Date Comparison
| 2014 | 2013 | % Change | |
| Total Home Sales | 4,574 | 4,795 | -4.6% |
| Median Sales Price | $105,000 | $91,500 | 14.8% |
| Average Sales Price | $141,070 | $129,563 | 8.9% |
| Monthly Sales Volume | $645.3 million | $621.3 million | 3.9% |
Historical home sales statistics are located at maar.org/marketreports.
“Pricing remains in a solid position and we had an 8.4 percent sales increase from March,” said MAAR President Greg Glosson. “Total sales for the year we’re slightly behind, but we’re ahead on sales volume year-to-date.”
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.
