December Memphis Market Report

Memphis-area home sales for December increased 26.5 percent from a year ago, with 1,156 total sales recorded in the Memphis Area Association of REALTORS^® MAARdata property records database. Total sales decreased 2 percent from November. Average sales price YTD was up 2.2 percent at $128,774. Inventory declined 4.8 percent, with 6,481 units listed for sale. Sales volume YTD increased 19.8 percent to $1.94 billion. With 15,071 total home sales in 2012, the local market saw a 17.2 percent improvement over 2011.

December Comparison

	2012	2011	% Change
Total Home Sales	1,156	914	26.5%
Median Sales Price	$87,500	$90,000	-2.8%
Average Sales Price	$125,925	$126,537	-0.5%
Monthly Sales Volume	$145.6 million	$115.7 million	25.8%

Year-to-Date Comparison

	2012	2011	% Change
Total Home Sales	15,071	12,858	17.2%
Median Sales Price	$89,000	$86,900	2.4%
Average Sales Price	$128,774	$126,060	2.2%
Monthly Sales Volume	$1.94 billion	$1.62 billion	19.8%

“The numbers tell the story: the local market improved this past year,” said 2012 MAAR President Carol Lott. “We’re up more than 17 percent in YTD total sales; there were slight price increases and an almost 20 percent jump in sales volume for the year.”

Source: Memphis Area Association of Realtors