MEMPHIS, Tenn., – October 8, 2013 – (RealEstateRama) — Memphis-area home sales for September increased 1.0 percent from a year ago, with 1,309 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales were down 23.1 percent from August. Average sales price YTD rose 10.2 percent to $142,738. Inventory was up 1.2 percent with 6,678 units listed for sale. Sales volume YTD increased 21.1 percent to $1.78 billion.
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GET THE SEPTEMBER MARKET REPORT HERE.
September Comparison
| 2013 | 2012 | % Change | |
| Total Home Sales | 1,309 | 1,296 | 1.0% |
| Median Sales Price | $115,000 | $91,500 | 25.7% |
| Average Sales Price | $143,828 | $132,671 | 8.4% |
| Monthly Sales Volume | $188.3 million | $171.9 million | 9.5% |
Year-to-Date Comparison
| 2013 | 2012 | % Change | |
| Total Home Sales | 12,504 | 11,368 | 10.0% |
| Median Sales Price | $105,000 | $88,000 | 19.3% |
| Average Sales Price | $142,738 | $129,492 | 10.2% |
| Monthly Sales Volume | $1.78 billion | $1.47 billion | 21.1% |
Historical home sales statistics are located at maar.org/marketreports.
“It is encouraging to see pricing up so much from this time a year ago. That’s good for sellers,” said MAAR President Regina Hubbard. “But interest rates are still pretty good for buyers so the market is staying in balance.”
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.
