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Tuesday, October 11, 2011

MAAR Releases September Market Report

Memphis-area home sales for September rose 1.8 percent from a year ago, with 1,083 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales fell 17.5 percent from August, when there were 1,313 sales. Average sales price year-over-year was down 4.4 percent and year-to-date was down 1.6 percent at $126,350. YTD total sales declined 11.7 percent. Inventory was down 1.5 percent, with 8,242 units listed for sale. YTD sales volume dropped 13.4 percent to $1.23 billion.

“We had a few more sales than September of 2010 and median price is a little higher,” said MAAR President Leon Dickson. “For the year, obviously, total sales and sales volume are not yet where we would like them to be.”

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