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September Market Report

MEMPHIS, Tenn., Oct. 4, 2018 – Memphis-area home sales for September decreased 4.6 percent from a year ago, with 1,554 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 18.6 percent from August when there were 1,910 total sales. Average sales price from September-to-September was up 1.4 percent, at $183,092. Inventory decreased 1.0 percent, with 4,519 units listed for sale. Year-to-Date sales volume was up 8.3 percent at $2.74 billion.

 

» SEE THE SEPTEMBER MARKET REPORT HERE.

 

September Comparison

2018

2017

% Change
Total Home Sales

1,554

1,629

-4.6%
Median Sales Price

$150,000

$145,000

3.4%
Average Sales Price

$183,092

$180,589

1.4%
Monthly Sales Volume $284.5 million $294.2 million -3.3%

 

 

Year-to-Date Comparison

2018

2017

% Change
Total Home Sales

14,880

14,719

1.1%
Median Sales Price

$149,900

$138,000

8.6%
Average Sales Price

$184,062

$172,148

6.9%
Monthly Sales Volume $2.74 billion $2.53 billion 8.3%
 
Historical home sale statistics are also available for comparison.

“The market continues to show good value,” said MAAR President Lauren Wiuff. “Sales dropped from August, but that’s pretty normal.”

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