MEMPHIS, Tenn. – June 10, 2013 – (RealEstateRama) — Memphis-area home sales for May increased 1.6 percent from a year ago, with 1,473 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales increased 6.3 percent from April. Average sales price year-over-year rose 10.6 percent at $139,779. Inventory was flat with 6,483 units listed for sale. Sales volume YTD increased 18.9 percent to $825.6 million.
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May Comparison
| 2013 | 2012 | % Change | |
| Total Home Sales | 1,473 | 1,450 | 1.6% |
| Median Sales Price | $102,000 | $84,900 | 20.1% |
| Average Sales Price | $139,779 | $126,432 | 10.6% |
| Monthly Sales Volume | $205.9 million | $183.3 million | 12.3% |
Year-to-Date Comparison
| 2013 | 2012 | % Change | |
| Total Home Sales | 6,263 | 5,781 | 8.3% |
| Median Sales Price | $93,400 | $80,000 | 16.9% |
| Average Sales Price | $131,824 | $120,144 | 9.7% |
| Monthly Sales Volume | $825.6 million | $694.5 million | 18.9% |
Historical home sales statistics are located at maar.org/marketreports.
“The Memphis housing market is in a pretty good place,” said MAAR President Regina Hubbard. “Sales are ahead of last year and average sales price is up around 10 percent. And we’re just now headed into summer.”
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.
don.wade (at) maar (dot) org
