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November Sales Cool as the Year Winds Down

MEMPHIS, Tenn., Dec. 7, 2018 – Memphis-area home sales for November decreased 3.9 percent from a year ago, with 1,519 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 18.1 percent from October, when there were 1,854 total sales. Average sales price from November-to-November was down 1.2 percent, at $174,496. Inventory decreased 2.8 percent, with 4,301 units listed for sale. Year-to-Date sales volume was up 8.8 percent at $3.35 billion. 

» SEE THE NOVEMBER MARKET REPORT HERE.

 

November Comparison

2018

2017

% Change
Total Home Sales

1,519

1,581

-3.9%
Median Sales Price

$139,900

$145,000

-3.5%
Average Sales Price

$174,496

$176,679

-1.2%
Monthly Sales Volume $265.1 million $279.3 million -5.1%

 

 

Year-to-Date Comparison

2018

2017

% Change
Total Home Sales

18,298

17,862

2.4%
Median Sales Price

$149,000

$138,501

7.6%
Average Sales Price

$183,011

$172,683

6.0%
Monthly Sales Volume $3.35 billion $3.08 billion 8.8%
 
Historical home sale statistics are also available for comparison.

“Year-to-date, the numbers are strong,” said MAAR President Lauren Wiuff. “With the holidays, the market will slow down a little bit.” 

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