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The December Market Report Has Been Released

MEMPHIS, Tenn., Jan. 5, 2018 – Memphis-area home sales for December decreased 8.5 percent from a year ago, with 1,437 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 8.6 percent from November when there were 1,572 total sales. Average sales price from December-to-December was up 7.0 percent, at $179,223. Inventory decreased 7.7 percent, with 4,190 units listed for sale. Year-to-Date sales volume was up 11.3 percent at $3.34 billion.

 

» GET THE DECEMBER MARKET REPORT HERE.

 

December Comparison

2017

2016

% Change
Total Home Sales

1,437

1,571

-8.5%
Median Sales Price

$144,000

$134,900

6.7%
Average Sales Price

$179,223

$167,466

7.0%
Monthly Sales Volume $257.5 million $263.1 million -2.1%

 

 

Year-to-Date Comparison

2017

2016

% Change
Total Home Sales

19,274

18,213

5.8%
Median Sales Price

$139,000

$132,900

4.6%
Average Sales Price

$173,100

$164,928

5.0%
Monthly Sales Volume $3.34 billion $3.00 billion 11.3%
 
Historical home sales statistics are located at maar.org/marketreports.

“The market was pretty robust in 2017,” said 2018 MAAR President Lauren Wiuff. “Total sales, pricing, everything increased over the previous year.”

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