September Market Report

Memphis-area home sales for September increased 1.0 percent from a year ago, with 1,309 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales were down 23.1 percent from August. Average sales price YTD rose 10.2 percent to $142,738. Inventory was up 1.2 percent with 6,678 units listed for sale. Sales volume YTD increased 21.1 percent to $1.78 billion.

“It is encouraging to see pricing up so much from this time a year ago. That’s good for sellers,” said MAAR President Regina Hubbard. “But interest rates are still pretty good for buyers so the market is staying in balance.”

Source: Memphis Area Association of Realtors