December/Year-End Market Report

December/Year-End Market Report

MEMPHIS, Tenn., Jan. 8, 2015 – Memphis-area home sales for December increased 20.7 percent from a year ago, with 1,317 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales increased 28.5 percent from November, when there were 1,025 total sales. Average sales price from December-to-December was down 0.8 percent at $141,870. Inventory decreased 4.8 percent, with 6,131 units listed for sale. YTD sales volume increased 1.7 percent to $2.38 billion.

»  GET THE DECEMBER MARKET REPORT HERE.

December Comparison

2014 2013 % Change
Total Home Sales 1,317 1,091 20.7%
Median Sales Price $112,000 $112,000 0.0%
Average Sales Price $141,870 $142,994 -0.8%
Monthly Sales Volume $186.8 million $156.0 million 19.7%

Year-to-Date Comparison

2014 2013 % Change
Total Home Sales 14,281 15,134 -3.9%
Median Sales Price $120,000 $107,000 12.1%
Average Sales Price $152,839 $144,053 6.1%
Monthly Sales Volume $2.38 billion $2.34 billion 1.7%
Historical home sales statistics are located at maar.org/marketreports.

“It was a strong close to a pretty solid year,” said 2014 MAAR President Greg Glosson. “There was a lot of activity at year’s end and sales volume was up from 2013.”

Serving the Mid-South for more than 100 years as the Voice for Local Real Estate, the Memphis Area Association of REALTORS® serves and represents real estate professionals as well as provides real estate information to the general public. About 3,100 members unite to make up one of Tennessee’s largest local REALTOR® organizations with real estate expertise stretching throughout the greater Memphis area. The MAARdata system includes records of all property transactions in Shelby, Fayette and Tipton counties. The MLS includes listings in Shelby, Fayette, Tipton, Hardeman, Hardin, McNairy, and Lauderdale counties in Tennessee; DeSoto County in Mississippi; and Crittenden County in Arkansas.

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