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August Sales Exceed July Totals, Per the August Market Report

MEMPHIS, Tenn., Sept. 10, 2018 – Memphis-area home sales for August decreased 2.3 percent from a year ago, with 1,910 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 3.4 percent from July when there were 1,847 total sales. Average sales price from August-to-August was down 1.1 percent, at $180,668. Inventory increased 0.4 percent, with 4,564 units listed for sale. Year-to-Date sales volume was up 8.4 percent at $2.45 billion. 

 

» SEE THE AUGUST MARKET REPORT HERE.

 

August Comparison

2018

2017

% Change
Total Home Sales

1,910

1,956

-2.3%
Median Sales Price

$150,000

$147,500

1.7%
Average Sales Price

$180,688

$182,722

-1.1%
Monthly Sales Volume $345.1 million $354.4 million -3.4%

 

 

Year-to-Date Comparison

2018

2017

% Change
Total Home Sales

13,314

13,089

1.7%
Median Sales Price

$149,900

$136,000

10.2%
Average Sales Price

$184,027

$171,096

7.6%
Monthly Sales Volume $2.45 billion $2.26 billion 8.4%
 
Historical home sale statistics are also available for comparison.

“Overall, the market is holding pretty steady,” said MAAR President Lauren Wiuff. “We saw a few more sales in August than we had in July.” 

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