MEMPHIS, Tenn., July 8, 2018 – (RealEstateRama) — Memphis-area home sales for June decreased 0.2 percent from a year ago, with 1,939 total sales recorded in the Memphis Area Association of REALTORS®MAARdata property records database. Sales were up 2.0 percent from May when there were 1,901 total sales. Average sales price from June-to-June was up 7.5 percent, at $200,193. Inventory increased 4.2 percent, with 4,347 units listed for sale. Year-to-Date sales volume was up 12.3 percent at $1.74 billion.
» SEE THE JUNE MARKET REPORT HERE.
June Comparison
| 2018 | 2017 | % Change | |
| Total Home Sales | 1,939 | 1,943 | -0.2% |
| Median Sales Price | $165,000 | $155,00 | 6.5% |
| Average Sales Price | $200,193 | $186,246 | 7.5% |
| Monthly Sales Volume | $388.2 million | $361.9 million | 7.3% |
Year-to-Date Comparison
| 2018 | 2017 | % Change | |
| Total Home Sales | 9,544 | 9,311 | 2.5% |
| Median Sales Price | $145,000 | $132,350 | 9.6% |
| Average Sales Price | $181,902 | $166,185 | 9.5% |
| Monthly Sales Volume | $1.74 billion | $1.55 billion | 12.3% |
Historical home sale statistics are also available for comparison.
“Inventory is begging to climb, which means even more options for buyers,” said MAAR President Lauren Wiuff. “On the sellers’ side, return remains strong.”
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 3,400 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 single-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.
