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October Market Report Shows Home Sales Up Nearly 20% from a Year Ago

MEMPHIS, Tenn., Nov. 7, 2018 – Memphis-area home sales for October increased 18.8 percent from a year ago, with 1,854 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 19.3 percent from September, when there were 1,554 total sales. Average sales price from October-to-October was up 2.0 percent, at $177,051 Inventory decreased 2.1 percent, with 4,424 units listed for sale. Year-to-Date sales volume was up 9.3 percent at $3.07 billion.

» SEE THE OCTOBER MARKET REPORT HERE.

 

October Comparison

2018

2017

% Change
Total Home Sales

1,854

1,560

18.8%
Median Sales Price

$146,000

$136,500

7.0%
Average Sales Price

$177,051

$173,597

2.0%
Monthly Sales Volume $323.3 million $270.8 million 21.2%

 

 

Year-to-Date Comparison

2018

2017

% Change
Total Home Sales

16,749

16,281

2.9%
Median Sales Price

$149,900

$137,511

9.0%
Average Sales Price

$183,451

$172,295

6.5%
Monthly Sales Volume $3.07 billion $2.81 billion 9.3%
 
Historical home sale statistics are also available for comparison.

“The spike in sales from September to October was pretty substantial,” said MAAR President Lauren Wiuff. “The market remains very active.”

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