October Market Report Shows Sales for October Up 28.1 Percent

 Memphis-area home sales for October jumped 28.1 percent from a year ago, with 1,371 total sales recorded in the Memphis Area Association of REALTORS MAARdata property records database. Total sales increased 6.5 percent from September. Average sales price year-over-year was up 1.7 percent at $128,740. Inventory declined 3.7 percent, with 7,120 units listed for sale. Sales volume YTD increased 19.7 percent to $1.64 billion.

“We are having a strong finish to the year,” said MAAR President Carol Lott. “Not only are we way up from last year, but October sales were 6.5 percent higher than September sales.”