MEMPHIS, Tenn., – March 27, 2015 – (RealEstateRama) — Memphis-area home sales for February decreased 5.5 percent from a year ago, with 934 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales declined 9.6 percent from January, when there were 1,033 total sales. Average sales price from February-to-February was up 16.2 percent at $147,557. Inventory increased 2.8 percent, with 5,948 units listed for sale. Monthly sales volume YTD increased 2.3 percent to $288.2 million.
» GET THE FEBRUARY MARKET REPORT HERE.
February Comparison
| 2015 | 2014 | % Change | |
| Total Home Sales | 934 | 988 | -5.5% |
| Median Sales Price | $107,000 | $92,400 | 15.8% |
| Average Sales Price | $147,557 | $127,018 | 16.2% |
| Monthly Sales Volume | $137.8 million | $125.5 million | 9.8% |
Year-to-Date Comparison
| 2015 | 2014 | % Change | |
| Total Home Sales | 1,971 | 2,083 | -5.4% |
| Median Sales Price | $110,000 | $95,500 | 15.2% |
| Average Sales Price | $146,229 | $135,220 | 8.1% |
| Monthly Sales Volume | $288.2 million | $281.7 million | 2.3% |
“February is always a tough month and weather was a factor this year,” said MAAR President Thomas Murphree. “That said, we’re already ahead on monthly sales volume after just two months.”
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
