MEMPHIS, TN – February 11, 2013 – (RealEstateRama) — Memphis-area home sales for January increased 46.1 percent from a year ago, with 1,259 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales rose 8.9 percent from December. Average sales price was up 7.3 percent at $123,696. Inventory declined 6.3 percent, with 6,070 units listed for sale. Sales volume for the month year-over-year increased 56.6 percent to $155.7 million.
January Comparison
| 2013 | 2012 | % Change | |
| Total Home Sales | 1,259 | 862 | 46.1% |
| Median Sales Price | $88,000 | $75,000 | 16.6% |
| Average Sales Price | $123,696 | $115,260 | 7.3% |
| Monthly Sales Volume | $155.7 million | $99.4 million | 56.6% |
Year-to-Date Comparison
| 2013 | 2012 | % Change | |
| Total Home Sales | 1,259 | 862 | 46.1% |
| Median Sales Price | $88,000 | $75,000 | 16.6% |
| Average Sales Price | $123,696 | $115,260 | 7.3% |
| Monthly Sales Volume | $155.7 million | $99.4 million | 56.6% |
Historical home sales statistics are located at maar.org/marketreports.
“What a great start to 2013,” said MAAR President Regina Hubbard. “Almost a 50 percent jump in sales and more than a 50 percent rise in sales volume. And sales went up nearly 9 percent from December, too.”
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 3,500 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.
MAAR members subscribe to the National Association of REALTORS® Code of Ethics. For more information, visit MAAR’s Web site at www.maar.org.
