MAAR May Market Report

Memphis-area home sales for May increased 1.6 percent from a year ago, with 1,473 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales increased 6.3 percent from April. Average sales price year-over-year rose 10.6 percent at $139,779. Inventory was flat with 6,483 units listed for sale. Sales volume YTD increased 18.9 percent to $825.6 million. 

“The Memphis housing market is in a pretty good place,” said MAAR President Regina Hubbard. “Sales are ahead of last year and average sales price is up around 10 percent. And we’re just now headed into summer.”

Source: Memphis Area Association of Realtors