MEMPHIS, Tenn. – September 7, 2015 – (RealEstateRama) — Memphis-area home sales for August increased 13.1 percent from a year ago, with 1,483 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 12 percent from July, when there were 1,685 total sales. Average sales price from August-to-August was up 1.8 percent at $164,944. Inventory decreased 2.5 percent, with 6,374 units listed for sale. Monthly sales volume YTD increased 8.8 percent to $1.74 billion.
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August Comparison
| 2015 | 2014 | % Change | |
| Total Home Sales | 1,483 | 1,311 | 13.1% |
| Median Sales Price | $129,900 | $131,500 | -1.2% |
| Average Sales Price | $164,944 | $162,030 | 1.8% |
| Monthly Sales Volume | $244.6 million | $212.4 million | 15.2% |
Year-to-Date Comparison
| 2015 | 2014 | % Change | |
| Total Home Sales | 10,953 | 10,351 | 5.8% |
| Median Sales Price | $126,900 | $120,000 | 5.8% |
| Average Sales Price | $158,738 | $154,323 | 2.9% |
| Monthly Sales Volume | $1.74 billion | $1.60 billion | 8.8% |
“Eight months into the year, all the numbers are up,” said MAAR President Thomas Murphree. “And this August was stronger than in 2014.”
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.
