MEMPHIS, TN – August 7, 2012 – (RealEstateRama) — Memphis-area home sales for July rose 7.4 percent from a year ago, with 1,385 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales increased 8.5 percent from June. Average sales price year-over-year was up 14.1 percent at $147,373. Inventory was up 1.1 percent, with 7,615 units listed for sale. Sales volume YTD increased 20 percent to $1.1 billion.
July Comparison
| 2012 | 2011 | % Change | |
| Total Home Sales | 1,385 | 1,290 | 7.4% |
| Median Sales Price | $99,000 | $88,888 | 11.4% |
| Average Sales Price | $147,373 | $129,142 | 14.1% |
| Monthly Sales Volume | $204.1 million | $166.6 million | 22.5% |
Year-to-Date Comparison
| 2012 | 2011 | % Change | |
| Total Home Sales | 8,509 | 7,354 | 15.7% |
| Median Sales Price | $85,500 | $84,600 | 1.1% |
| Average Sales Price | $128,318 | $124,691 | 2.9% |
| Monthly Sales Volume | $1.1 billion | $917 million | 20.0% |
Historical home sales statistics are located at maar.org/marketreports.
“The Memphis housing market is on the rise,” said MAAR President Carol Lott. “Sales and prcing are up, both year-over-year and year-to-date. Sales volume is way ahead of last year.”
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.
