MEMPHIS, TN – April 7, 2015 – (RealEstateRama) — Memphis-area home sales for March increased 5.1 percent from a year ago, with 1,270 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales rose 36 percent from February, when there were 934 total sales. Average sales price from March-to-March was down 0.6 percent at $146,194. Inventory decreased 1.7 percent, with 5,847 units listed for sale. Monthly sales volume YTD increased 3.5 percent to $475.4 million.
March Comparison
| 2015 | 2014 | % Change | |
| Total Home Sales | 1,270 | 1,208 | 5.1% |
| Median Sales Price | $114,000 | $115,607 | -1.4% |
| Average Sales Price | $146,194 | $147,019 | -0.6% |
| Monthly Sales Volume | $185.7 million | $177.6 million | 4.6% |
Year-to-Date Comparison
| 2015 | 2014 | % Change | |
| Total Home Sales | 3,245 | 3,291 | -1.4% |
| Median Sales Price | $110,876 | $102,500 | 8.2% |
| Average Sales Price | $146,421 | $139,551 | 4.9% |
| Monthly Sales Volume | $475.4 million | $459.3 million | 3.5% |
“The market’s starting to move again,” said MAAR President Thomas Murphree. “There was a huge increase in sales from February and we’re ahead on YTD sales volume.”
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.
