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October Market Report Shows Healthy Market

MEMPHIS, Tenn., Nov. 6, 2017 – Memphis-area home sales for October increased 0.5 percent from a year ago, with 1,559 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 2.9 percent from September when there were 1,606 total sales. Average sales price from October-to-October was up 10.9 percent, at $174,182. Inventory increased 0.2 percent, with 4,634 units listed for sale. Year-to-Date sales volume was up 12.9 percent at $2.80 billion.

 

» GET THE OCTOBER MARKET REPORT HERE.

 

October Comparison

2017

2016

% Change
Total Home Sales

1,559

1,552

0.5%
Median Sales Price

$136,500

$126,000

8.3%
Average Sales Price

$174,182

$157,057

10.9%
Monthly Sales Volume $271.5 million $243.8 million 11.4%

 

 

Year-to-Date Comparison

2017

2016

% Change
Total Home Sales

16,258

15,122

7.5%
Median Sales Price

$137,500

$132,500

3.8%
Average Sales Price

$172,230

$164,058

5.0%
Monthly Sales Volume $2.80 billion $2.48 billion 12.9%
 
Historical home sales statistics are located at maar.org/marketreports.

“It remains a very healthy market,” said MAAR President Tommie Criswell. “The leaves are changing, but the market is still quite active.”

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