Memphis-area home sales for December decreased 1 percent from a year ago, with 1,433 total sales recorded in the Memphis Area Association of Realtors’ MAARdata property records database.
Sales were down 5.7 percent from November, when there were 1,519 total sales. The average sales price from December-to-December was down 2.7 percent, at $174,835. Inventory decreased 5.9 percent, with 4,050 units listed for sale. The year-to-date sales volume for 2018 was up 6.0 percent at $3.54 billion.
“It was a good year for the local market,” said 2018 MAAR President Lauren Wiuff. “Everything was up, across the board.”
Bartlett
Comparing December 2017 to December 2018: Sales dropped 22 percent, from 100 units to 78. The median sales price rose 14 percent from $194,750 to $222,000. New home sales dropped 73.3 percent, from 15 in December 2017 to four in December 2018. The average sales price for all homes rose 10 percent from $200,151 to $220,191.
Comparing year-to-year: Total home sales in Bartlett for all of 2018 dropped 6.7 percent, from 1,317 units in 2017 to 1,229 in 2018. The 2018 median sales price rose 7.9 percent from $190,000 in 2017 to $205,000 in 2018.
Arlington
Comparing December 2017 to December 2018: Sales dropped 6.1 percent, from 33 units to 31. The median sales price rose 8.5 percent from $272,000 to $295,000. New home sales rose 50 percent, from eight in December 2017 to 12 in December 2018. The average sales price for all homes rose 11.2 percent, from $261,035 to $290,263.
Comparing year-to-year: Total home sales in Arlington for all of 2017 rose 2.9 percent, from 415 units in 2017 to to 427 in 2018. The 2018 median sales price rose 8.2 percent from $245,000 in 2017 to $265,000 in 2018.
Lakeland
Comparing December 2017 to December 2018: Sales dropped 46.7 percent, from 30 units to 16. The median sales price dropped 11.6 percent from $292,500 to $258,500. For new home sales in Lakeland, three units were sold in December 2017 at a median sales price of $550,000, but MAAR did not provide da
