September Market Report

MEMPHIS, Tenn. – October 15, 2015 – (RealEstateRama) — Memphis-area home sales for September decreased 9.5 percent from a year ago, with 1,424 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 4 percent from August, when there were 1,483 total sales. Average sales price from September-to-September was down 0.7 percent, at $159,420. Inventory decreased 0.5 percent, with 6,404 units listed for sale. Monthly sales volume YTD increased 7.0 percent to $1.98 billion.

»  GET THE SEPTEMBER MARKET REPORT HERE.

September Comparison

2015 2014 % Change
Total Home Sales 1,424 1,574 -9.5%
Median Sales Price $125,000 $127,500 -2.0%
Average Sales Price $159,420 $160,499 -0.7%
Monthly Sales Volume $227.0 million $252.6 million -10.1%

Year-to-Date Comparison

2015 2014 % Change
Total Home Sales 12,448 11,923 4.4%
Median Sales Price $126,600 $120,000 5.5%
Average Sales Price $159,000 $155,144 2.5%
Monthly Sales Volume $1.98 billion $1.85 billion 7.0%

Historical home sales statistics are located at maar.org/marketreports.
“We’re entering the home stretch of a very solid year,” said MAAR President Thomas Murphree. “The market is competitive and opportunities exist for buyers and sellers.”

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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