The total Memphis area (as well as Bartlett, Arlington and Lakeland) is seeing rises in year-to-date sales through the end of April, according to the Memphis Area Association of Realtors property records database.
“The first four months of the year have been very solid,” said MAAR President Tommie Criswell. “Now we get a slight boost in inventory, which has been running low, as we head into summer.”
April is the most recent month in 2017 for which complete numbers are available. The MAAR data system includes records of all property transactions in Shelby, Fayette and Tipton counties. See the April market report for all included municipalities and counties at maar.org.
Bartlett home sales
Bartlett’s April total home sales are down 13.9 percent for last month, compared to April 2016 (99 vs. 115 homes). The median sales price for April also dropped slightly, by 0.1 percent, from $175,000 to $174,900. New home sales in Bartlett dropped by 57.1 percent, with 14 homes sold in April 2016 compared to six homes sold this April.
Year-to-date through the end of April, Bartlett’s total home sales are up 6.6 percent, from 346 homes sold YTD in 2016 to 369 homes sold so far this year. The YTD median sales price shows an 11.4 percent increase from $170,450 to $189,900. New home sales numbers are down 10 percent, from 50 at this point in 2016 to 45 through the end of April this year.
Lakeland home sales
Lakeland’s April total home sales are down 36.4 percent, compared to April 2016 (33 vs. 21 homes). But the median sales price for April total home sales jumped by 30.6 percent, from $179,900 in April 2016 to $235,000 this April. MAAR did not have data on Lakeland’s April 2017 new home sales; in April 2016, the number sold was one.
Year to date through the end of April, Lakeland’s total home sales are up 3.7 percent, from 82 homes sold YTD in 2016 to 85 homes sold so far this year. The median sales price decreased 8.1 percent, from $250,150 YTD in 2016 to $230,000 so far this year. New home sales numbers are up 33.3 percent from three new homes sole YTD in 2016 to four so far this year.
Arlington home sales
Arlington’s April total home sales are down by 5.6 percent for last month, compared to April 2016 (34 vs. 36 homes). The median sales price for April rose by 1.4 percent, from $229,250 to $232,500. New home sales in Arlington were flat, with six homes sold in April 2016 and the same number this April.
Year to date through the end of April, Arlington’s total home sales are up 7.9 percent, from 101 YTD in 2016 to 109 so far this year. The median sales price rose by 8.4 percent, from $225,000 to $243,900. New home sales are up 6.2 percent year to date, with 16 sold YTD in 2016 compared to 17 so far this year.
Memphis home sales
The total Memphis-area home sales for April are down by 4 percent, compared to April 2016 (1,471 vs. 1,532 homes). The median sales price rose 4.2 percent, from $130,000 to $135,500. New home sales were down by 31.8 percent, with 66 sold in 2016 vs. 45 homes sold this April.
Average sales price from April-to-April was up 3.8 percent, at $167,030. Inventory increased 5.0 percent, with 4,681 units listed for sale.
Comparing March to April, sales dropped 10 percent from 1,634 total sales in March.
Year to date through the end of April, total Memphis-area home sales are up 8.4 percent, from 5,057 YTD in 2016 to 5,483 so far this year. The median sales price rose by 2.1 percent, from $120,000 to $122,500. New home sales are down by 0.4 percent, from 234 YTD in 2016 to 233 so far this year.
Year-to-date sales volume was up 13.6 percent at $837.3 million.
