MEMPHIS, Tenn., Nov. 8, 2023 – Memphis-area home sales for October increased 0.7 percent from a year ago, with 1,489 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 11.2 percent from September, when there were 1,339 total sales. Average sales price from October-to-October was up 3.0 percent, at $263,121. Inventory increased 3.6 percent, with 3,668 units listed for sale. Sales volume YTD decreased 22.8 percent, to $3.58 billion.
October Comparison
2023 |
2022 |
Percentage Change |
|
Total Home Sales |
1,489 | 1,478 | 0.7% |
Median Sales Price |
$210,000 | $200,000 | 5.0% |
Average Sales Price |
$263,121 | $255,399 | 3.0% |
Monthly Sales Volume |
$391.8 million | $377.5 million | 3.8% |
Year-to-Date Comparison
2023 |
2022 |
Percentage Change |
|
Total Home Sales |
13,288 | 17,488 | −24.0% |
Median Sales Price |
$219,000 | $220,000 | −0.5% |
Average Sales Price |
$269,541 | $265,376 | 1.6% |
Monthly Sales Volume |
$3.58 billion | $4.64 billion | −22.8% |
"Sales rose significantly from September, more than 11 percent," said MAAR President Carmen Prince. "Median sales price was up 5 percent year-over-year."
Historical home sale statistics are also available for comparison.