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Positive Numbers in the Market Again in May

MEMPHIS, Tenn., April 6, 2018 – Memphis-area home sales for May increased 3.2 percent from a year ago, with 1,901 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 12.0 percent from April when there were 1,698 total sales. Average sales price from May-to-May was up 13.0 percent, at $195,472. Inventory increased 2.5 percent, with 4,172 units listed for sale. Year-to-Date sales volume was up 11.7 percent at $1.34 billion.  

 

» SEE THE MAY MARKET REPORT HERE.

 

May Comparison

2018

2017

% Change
Total Home Sales

1,901

1,842

3.2%
Median Sales Price

$160,000

$142,784

12.1%
Average Sales Price

$195,472

$173,024

13.0%
Monthly Sales Volume $371.6 million $318.7 million 16.6%

 

 

Year-to-Date Comparison

2018

2017

% Change
Total Home Sales

7,579

7,368

2.9%
Median Sales Price

$140,000

$127,900

9.5%
Average Sales Price

$176,573

$160,894

9.7%
Monthly Sales Volume $1.34 billion $1.2 billion 11.7%
 
Historical home sale statistics are also available for comparison.

“There is a lot of strength in the market right now,” said MAAR President Lauren Wiuff. “The numbers are up across the board.”

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