MEMPHIS, Tenn., Jan. 11, 2016 — Memphis-area home sales for December decreased 0.9 percent from a year ago, with 1,367 total sales recorded, according to the Memphis Area Association of Realtors (MAAR).
Sales were up 25.9 percent from November, when there were 1,086 total sales. Average sales price from December-to-December was up 9.0 percent, at $156,102. Inventory decreased 4.8 percent, with 5,793 units listed for sale. Monthly sales volume YTD increased 7.9 percent to $2.60 billion for the whole of 2015.
Historical home sales statistics are located at www.maar.org/marketreports.
“All in all, it was a pretty solid year,” said MAAR President Joe Steffner. “Definitely encouraged as we start 2016.”
Bartlett home sales
In December, Bartlett saw a 44 percent drop in total home sales compared to December 2014 (61 vs. 109 homes). But the median sales price rose 5.4 percent for that same period, from $170,685 to $179,900.
New home sales in December showed a 48.1 percent drop compared to December 2014 (from 27 to 14).
Bartlett’s total home sales for 2015 went from 1,021 in 2014 to 1,077 in 2015 (a 5.5 percent increase). The year-over-year median sales price also increased from $164,500 to $175,000, a 6.4 percent increase.
Arlington home sales
Arlington saw a 16.1 percent increase in total home sales (from 31 to 36) in December 2015, compared to December 2014. But the median sales price dropped 12.9 percent (from $245,000 to $213,500) for the same period.
New home sales in December showed a 25 percent drop (from 4 to 3), compared to 2014.
Arlington’s total home sales for 2015 were up from 327 in 2014 to 357, a 9.2 percent increase. The median sales price also increased year-over-year from $216,140 to $224,900, a 4.1 percent increase.
Lakeland home sales
In December, Lakeland showed a 17.9 percent increase in total home sales, from 28 to 33, compared to December 2014. The median sales price, however, dropped 3.6 percent from $243,808 to $235,000, a 3.6 percent decrease.
New home sales in December were flat, with 4 sold that month in both 2014 and 2015.
Lakeland’s total home sales for 2015 were up 19.5 percent, from 262 to 313, compared to 2014.
The year-over-year median sales price also increased from $242,805 to $250,000, a 3 percent rise.
