MEMPHIS, Tenn., Nov. 9, 2015 – Memphis-area home sales for October decreased 3.5 percent from a year ago, with 1,336 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 6.2 percent from September, when there were 1,424 total sales. Average sales price from October-to-October was up 4.3 percent, at $156,692. Inventory decreased 1.8 percent, with 6,291 units listed for sale. Monthly sales volume YTD increased 6.8 percent to $2.20 billion.
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October Comparison
| 2015 | 2014 | % Change | |
| Total Home Sales | 1,336 | 1,384 | -3.5% |
| Median Sales Price | $120,000 | $125,000 | -4.0% |
| Average Sales Price | $156,692 | $150,231 | 4.3% |
| Monthly Sales Volume | $209.3 million | $07.9 million | 0.7% |
Year-to-Date Comparison
| 2015 | 2014 | % Change | |
| Total Home Sales | 13,811 | 13,307 | 3.8% |
| Median Sales Price | $125,500 | $120,910 | 3.8% |
| Average Sales Price | $158,956 | $154,633 | 2.8% |
| Monthly Sales Volume | $2.20 billion | $2.06 billion | 6.8% |
“It’s a pretty stable market right now,” said MAAR President Thomas Murphree. “And we’re ahead of last year’s pace.”
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.
