June Market Report


MEMPHIS, Tenn., – July 8, 2013 – (RealEstateRama) — Memphis-area home sales for June increased 6.7 percent from a year ago, with 1,459 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales were flat from May. Average sales price year-over-year rose 9.9 percent at $161,508. Inventory was up 1.8 percent with 6,599 units listed for sale. Sales volume YTD increased 22.8 percent to $1.1 billion.


June Comparison

2013 2012 % Change
Total Home Sales 1,459 1,368 6.7%
Median Sales Price $127,000 $100,900 27.0%
Average Sales Price $161,508 $146,899 9.9%
Monthly Sales Volume $235.6 million $201 million 17.2%


Year-to-Date Comparison

2013 2012 % Change
Total Home Sales 7,731 7,149 8.1%
Median Sales Price $98,750 $84,000 17.6%
Average Sales Price $137,571 $125,263 9.8%
Monthly Sales Volume $1.1 billion $895.5 million 22.8%

Historical home sales statistics are located at maar.org/marketreports.

“Halfway through 2013 the Memphis housing market is well ahead of last year,” said MAAR President Regina Hubbard. “Sales, and pricing indicators, are on the rise.”

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 3,000 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.

Don Wade, Media Relations & Research, 901.485.1653.

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