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’ property records database. Sales were down 4 percent from August, when there were 1,483 total sales.
The 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.
“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.”
Area municipalities and Shelby County showed the following numbers for September.
Bartlett
- Year-over-year-sales dropped from 104 to 110 units.
- Year-over-year median sales price rose from $167,500 to $174,885.
- Year-over-year new home sales dropped from 20 to 11 units.
- Year-to-date total home sales rose from 753 to 845 units.
- Year-to-date median sales price rose from $162,500 to $172,000.
Arlington
- Year-over-year-sales dropped from 36 to 29 units.
- Year-over-year median sales price dropped from $205,555 to $199,000.
- Year-over-year new home sales dropped from six to two units.
- Year-to-date total home sales rose from 229 to 273 units.
- Year-to-date median sales price rose from $215,000 to $229,900.
Lakeland
- Year-over-year-sales rose from 19 to 29 units.
- Year-over-year median sales price rose from $260,000 to $282,000.
- Year-over-year new home sales rose from 3 to 4 units.
- Year-to-date total home sales rose from 181 to 238 units.
- Year-to-date median sales price rose from $245 to $250.
Shelby County
- Year-over-year-sales fell from 1,455 to 1,304 units.
- Year-over-year median sales price dropped from $124,000 to $122,425.
- Year-over-year new home sales dropped from 72 to 34 units.
- Year-to-date total home sales rose from 10,942 to 11,401 units.
- Year-to-date median sales price rose from $117,000 to $124,900.
