MEMPHIS, Tenn., – January 15, 2013 – (RealEstateRama) — Memphis-area home sales for December were down 10.1 percent from a year ago, with 1,088 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. However, YTD sales for 2013 rose 6.7 percent to 16,159. Average sales price YTD increased 10.6 percent to $143,395. Inventory was down 4.8 percent with 6,190 units listed for sale. Sales volume YTD increased 18.4 percent to $2.32 billion.
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» GET THE DECEMBER MARKET REPORT HERE.
December Comparison
| 2013 | 2012 | % Change | |
| Total Home Sales | 1,088 | 1,210 | -10.1% |
| Median Sales Price | $111,500 | $88,900 | 25.4% |
| Average Sales Price | $142,012 | $131,262 | 8.2% |
| Monthly Sales Volume | $154.5 million | $158.8 million | -2.7% |
Year-to-Date Comparison
| 2013 | 2012 | % Change | |
| Total Home Sales | 16,159 | 15,150 | 6.7% |
| Median Sales Price | $106,400 | $89,900 | 18.4% |
| Average Sales Price | $143,395 | $129,640 | 10.6% |
| Monthly Sales Volume | $2.32 billion | $1.96 billion | 18.4% |
Historical home sales statistics are located at maar.org/marketreports.
“It was a very solid year for the local market with sales up almost seven percent and average sales price rising 10.6 percent,” said MAAR President Greg Glosson. “Certainly, it is encouraging as we enter 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.
Contact Don Wade, Media Relations & Research, 901.485.1653.
