MEMPHIS, Tenn., Oct. 7, 2016 – Memphis-area home sales for September increased 11.4 percent from a year ago, with 1,616 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 7 percent from August, when there were 1,738 total sales. Average sales price from September-to-September was up 1.5 percent, at $163,770. Inventory decreased 2.9 percent, with 5,504 units listed for sale. YTD sales volume increased by 11.6 percent, at $2.22 billion.
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September Comparison
| 2016 | 2015 | % Change | |
| Total Home Sales | 1,616 | 1,451 | 11.4% |
| Median Sales Price | $130,000 | $125,500 | 3.6% |
| Average Sales Price | $163,770 | $161,362 | 1.5% |
| Monthly Sales Volume | $264.7 million | $234.1 million | 13.1% |
Year-to-Date Comparison
| 2016 | 2015 | % Change | |
| Total Home Sales | 13,511 | 12,503 | 8.1% |
| Median Sales Price | $133,000 | $127,000 | 4.7% |
| Average Sales Price | $164,473 | $159,374 | 3.2% |
| Monthly Sales Volume | $2.22 billion | $1.99 billion | 11.6% |
Historical home sales statistics are located at maar.org/marketreports.
“The market keeps rolling along,” said MAAR President Joe Steffner. “Very healthy as we move into autumn.”
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.
Contact Don Wade, Media Relations & Research, 901.485.1653
