Memphis Area October 2015 Market Report

The Memphis Area Association of Realtors (MAAR) has released the October 2015 Market Report. The report shows October 2015 sales compared to October 2014 for the overall Memphis area (which includes sales in Shelby, Fayette, and Tipton counties) decreased by 3.5% with 1,336 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 6.2 percent from September, when there were 1,424 total sales. The average sales price from October-to-October was up 4.3% at $156,692.  Inventory decreased 1.8%, with 6,291 units listed for sale. Monthly sales volume YTD increased 6.8% to $2.2 billion.

Foreclosure Sales continue to decrease. Year-to-date 2014 there were 1,937 bank sales as compared to 1,865 this year – a 3.7% decline. While the average YTD sales price decreased by 3.1% to $71,870, the average YTD sales price for non-bank sales increased by 2.5% to $172,552.

"It's a pretty stable market right now," said MAAR President Thomas Murphree.  "And we're ahead of last year's pace."

For an in-depth report of Market trends for the Memphis area, click on the link below.

October 2015 Market Report

 

All information deemed accurate, but not warranted.