MEMPHIS, Tenn., – February 10, 2014 – (RealEstateRama) — Memphis-area home sales for January were down 14.9 percent from a year ago, with 1,083 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were flat from December, when there were 1,088 total sales. Average sales price year-over-year increased 10.9 percent to $139,721. Inventory was down 5.5 percent with 5,849 units listed for sale. January sales volume decreased 5.6 percent to $151.3 million from 2013.
» GET THE JANUARY MARKET REPORT HERE.
January Comparison
| 2014 | 2013 | % Change | |
| Total Home Sales | 1,083 | 1,271 | -14.9% |
| Median Sales Price | $99,000 | $89,900 | 10.1% |
| Average Sales Price | $139,721 | $126,002 | 10.9% |
| Monthly Sales Volume | $151.3 million | $160.3 million | -5.6% |
Year-to-Date Comparison
| 2014 | 2012 | % Change | |
| Total Home Sales | 1,083 | 1,272 | -14.9% |
| Median Sales Price | $99,000 | $89,900 | 10.1% |
| Average Sales Price | $139,721 | $126,002 | 10.9% |
| Monthly Sales Volume | $151.3 million | $160.3 million | -5.6% |
Historical home sales statistics are located at maar.org/marketreports.
“Pricing was up more than 10 percent from last January, so that’s good,” said MAAR President Greg Glosson. “Sales were down a little, but that has been the case all across the country because of inclement weather.”
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.
