The Voice for Local Real Estate


MAAR & Industry News

  Subscribe to MAAR news via RSS.

The Memphis Market Was on Fire in August

MEMPHIS, Tenn., Sept 7., 2017 – Memphis-area home sales for August increased 10.3 percent from a year ago, with 1,942 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 11.2 percent from July when there were 1,747 total sales. Average sales price from August-to-August was up 4.4 percent, at $183,175. Inventory decreased 2.1 percent, with 4,713 units listed for sale. Year-to-Date sales volume was up 13.7 percent at $2.24 billion.

 

» GET THE AUGUST MARKET REPORT HERE.

 

August Comparison

2017

2016

% Change
Total Home Sales

1,942

1,760

10.3%
Median Sales Price

$147,623

$142,000

4.0%
Average Sales Price

$183,175

$175,527

4.4%
Monthly Sales Volume $355.7 million $308.9 million 15.2%

 

 

Year-to-Date Comparison

2017

2016

% Change
Total Home Sales

13,065

11,925

9.6%
Median Sales Price

$136,000

$134,000

1.5%
Average Sales Price

$171,075

$164,809

3.8%
Monthly Sales Volume $2.24 billion $1.97 billion 13.7%
 
Historical home sales statistics are located at maar.org/marketreports.

“August sales were the highest we’ve seen all year,” said MAAR President Tommie Criswell. “Now we’re about 10 percent ahead on total sales year-to-date.”

Back

What's Coming Up


Connect with Us!

facebook twitter instagram yelp
google+ youtube flickr linkedin
rss lightbulb-question-marks