Memphis-area home sales for February increased 3.4 percent from a year ago, with 1,252 total sales recorded in the Memphis Area Association of Realtors’ MAARdata property records database.
“All the numbers were up across the board,” said MAAR President Lee McWaters. “That’s really encouraging, given that the spring selling season hasn’t even started yet.”
The MAARdata system includes records of all single-property transactions in Shelby, Fayette and Tipton counties. The MLS includes listings in Shelby, Fayette, Tipton, Hardeman, Hardin, McNairy and Lauderdale counties in Tennessee; DeSoto County in Mississippi; and Crittenden County in Arkansas. Historical home sales statistics are located at maar.org/marketreports.
Bartlett
February 2018 vs. February 2019: Sales dropped 4.4 percent, from 68 to 65 units. The median sales price dropped 11.8 percent, from $225,500 to $199,000. New home sales dropped 60 percent, from 15 in February 2018 to six in February 2019. The average sales price for all homes rose 1.1 percent from $217,643 to $220,077.
Comparing year-to-date: Total 2019 home sales in Bartlett through the end of February dropped 8.7 percent, from 138 units to 126 units. The 2019 YTD median sales price dropped 8.7 percent from $219,000 YTD in 2018 to $200,000 YTD in 2019.
Arlington
February 2018 vs. February 2019: Sales dropped 10.7 percent, from 28 units to 25. The median sales price rose 5.4 percent from $279,950 to $295,000. New home sales stayed flat, with five units sold in February 2018 and February 2019. The average sales price for all homes rose 19.4 percent, from $271,484 to $324,165.
Comparing year-to-date: Total 2019 home sales in Arlington through the end of February dropped 19 percent, from 48 units to 46. The 2019 YTD median sales price rose 12.6 percent from $262,000 YTD in 2018 to $295,000 YTD in 2019.
Lakeland
February 2018 vs. February 2019: Sales dropped 33.3 percent from 18 units to 12. The median sales price dropped 28.7 percent, from $324,500 to $231,225. No information on new home sales was included in the February report. The average sales price for all homes dropped 22.5 percent, from $348,511 to $269,945.
Comparing year-to-date: Total 2019 home sales in Bartlett through the end of February dropped 24.3 percent, from 37 units to 28. The 2019 YTD median sales price dropped 11.9 percent from $285,000 YTD in 2018 to $251,200 YTD in 2019.
Shelby County
February 2018 vs. February 2019: Sales rose 4.8 percent from 1,095 units to $1,148. The median sales price rose 13.7 percent from $109,900 to $125,000. New home sales dropped 10.4 percent, from 48 sold in February 2018 to 43 sold in February 2019. The average sales prices for Shelby County homes rose 10 percent, from $153,557 to $168,895.
Comparing year-to-date: Total 2019 home sales in Bartlett through the end of February rose 1.2 percent, from 2,273 units to 2,300 units. The 2019 YTD median sales price rose 2 percent from $120,000 YTD in 2018 to $122,400 YTD in 2019.
