MEMPHIS, Tenn., – August 8, 2013 – (RealEstateRama) — Memphis-area home sales for July increased 22.5 percent from a year ago, with 1,714 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales were up 17.5 percent from June. Average sales price year-over-year rose 8.8 percent to $161,399. Inventory was up 2.6 percent with 6,744 units listed for sale. Sales volume YTD increased 21.8 percent to $1.34 billion.
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July Comparison
| 2013 | 2012 | % Change | |
| Total Home Sales | 1,714 | 1,399 | 22.5% |
| Median Sales Price | $126,770 | $99,900 | 26.9% |
| Average Sales Price | $161,399 | $148,400 | 8.8% |
| Monthly Sales Volume | $276.6 million | $207.6 million | 33.2% |
Year-to-Date Comparison
| 2013 | 2012 | % Change | |
| Total Home Sales | 9,471 | 8,548 | 10.8% |
| Median Sales Price | $104,000 | $86,500 | 20.2% |
| Average Sales Price | $141,924 | $129,050 | 10.0% |
| Monthly Sales Volume | $1.34 billion | $1.1 billion | 21.8% |
Historical home sales statistics are located at maar.org/marketreports.
“Obviously, July was a strong month,” said MAAR President Regina Hubbard. “But even better, year-to-date Memphis-area home sales and pricing are up double-digits across the board.”
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 3,000 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.
