MEMPHIS, Tenn., – (RealEstateRama) — Memphis-area home sales for October increased 18.8 percent from a year ago, with 1,854 total sales recorded in the Memphis Area Association of REALTORS®MAARdata property records database. Sales were up 19.3 percent from September, when there were 1,554 total sales. Average sales price from October-to-October was up 2.0 percent, at $177,051 Inventory decreased 2.1 percent, with 4,424 units listed for sale. Year-to-Date sales volume was up 9.3 percent at $3.07 billion.
» SEE THE OCTOBER MARKET REPORT HERE.
October Comparison
| 2018 | 2017 | % Change | |
| Total Home Sales | 1,854 | 1,560 | 18.8% |
| Median Sales Price | $146,000 | $136,500 | 7.0% |
| Average Sales Price | $177,051 | $173,597 | 2.0% |
| Monthly Sales Volume | $323.3 million | $270.8 million | 21.2% |
Year-to-Date Comparison
| 2018 | 2017 | % Change | |
| Total Home Sales | 16,749 | 16,281 | 2.9% |
| Median Sales Price | $149,900 | $137,511 | 9.0% |
| Average Sales Price | $183,451 | $172,295 | 6.5% |
| Monthly Sales Volume | $3.07 billion | $2.81 billion | 9.3% |
Historical home sale statistics are also available for comparison.
“The spike in sales from September to October was pretty substantial,” said MAAR President Lauren Wiuff. “The market remains very active.”
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.
