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Numbers Up in the April Market Report

MEMPHIS, Tenn., April 6, 2018 – Memphis-area home sales for April increased 13.9 percent from a year ago, with 1,698 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 15.3 percent from March when there were 1,473 total sales. Average sales price from April-to-April was up 5.6 percent, at $176,873. Inventory increased 4.8 percent, with 4,070 units listed for sale. Year-to-Date sales volume was up 11.1 percent at $963.1 million. 

 

» SEE THE APRIL MARKET REPORT HERE.

 

April Comparison

2018

2017

% Change
Total Home Sales

1,698

1,491

13.9%
Median Sales Price

$142,000

$135,500

4.8%
Average Sales Price

$176,873

$167,580

5.6%
Monthly Sales Volume $300.3 million $249.9 million 20.2%

 

 

Year-to-Date Comparison

2018

2017

% Change
Total Home Sales

5,670

5,527

2.6%
Median Sales Price

$134,000

$123,000

8.9%
Average Sales Price

$169,855

$156,829

8.3%
Monthly Sales Volume $963.1 million $866.8 million 11.1%
 
Historical home sale statistics are also available for comparison.

“Based on the numbers, it is clear spring is here,” said MAAR President Lauren Wiuff. “Buyers are out there in force.”

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 3,400 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 single-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.

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