MEMPHIS, Tenn., Sept 21., 2017 – (RealEstateRama) — Memphis-area home sales for August increased 10.3 percent from a year ago, with 1,942 total sales recorded in the Memphis Area Association of REALTORS®MAARdata property records database. Sales were up 11.2 percent from July when there were 1,747 total sales. Average sales price from August-to-August was up 4.4 percent, at $183,175. Inventory decreased 2.1 percent, with 4,713 units listed for sale. Year-to-Date sales volume was up 13.7 percent at $2.24 billion.
» GET THE AUGUST MARKET REPORT HERE.
August Comparison
| 2017 | 2016 | % Change | |
| Total Home Sales | 1,942 | 1,760 | 10.3% |
| Median Sales Price | $147,623 | $142,000 | 4.0% |
| Average Sales Price | $183,175 | $175,527 | 4.4% |
| Monthly Sales Volume | $355.7 million | $308.9 million | 15.2% |
Year-to-Date Comparison
| 2017 | 2016 | % Change | |
| Total Home Sales | 13,065 | 11,925 | 9.6% |
| Median Sales Price | $136,000 | $134,000 | 1.5% |
| Average Sales Price | $171,075 | $164,809 | 3.8% |
| Monthly Sales Volume | $2.24 billion | $1.97 billion | 13.7% |
Historical home sales statistics are located at maar.org/marketreports.
“August sales were the highest we’ve seen all year,” said MAAR President Tommie Criswell. “Now we’re about 10 percent ahead on total sales 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 3,400 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 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
