Memphis-area home sales for September increased 1.0 percent from a year ago, with 1,309 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales were down 23.1 percent from August. Average sales price YTD rose 10.2 percent to $142,738. Inventory was up 1.2 percent with 6,678 units listed for sale. Sales volume YTD increased 21.1 percent to $1.78 billion.
September Comparison
|
2013 |
2012 |
% Change | |
| Total Home Sales |
1,309 |
1,296 |
1.0% |
| Median Sales Price |
$115,000 |
$91,500 |
25.7% |
| Average Sales Price |
$143,828 |
$132,671 |
8.4% |
| Monthly Sales Volume | $188.3 million | $171.9 million | 9.5% |
Year-to-Date Comparison
|
2013 |
2012 |
% Change | |
| Total Home Sales |
12,504 |
11,368 |
10.0% |
| Median Sales Price |
$105,000 |
$88,000 |
19.3% |
| Average Sales Price |
$142,738 |
$129,492 |
10.2% |
| Monthly Sales Volume | $1.78 billion | $1.47 billion | 21.1% |
“It is encouraging to see pricing up so much from this time a year ago. That’s good for sellers,” said MAAR President Regina Hubbard. “But interest rates are still pretty good for buyers so the market is staying in balance.”
Source: Memphis Area Association of Realtors
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