Memphis-area home sales drop, Bartlett’s rise

housing-iconMemphis-area home sales for October declined 1.6 percent from a year ago, with 1,371 total sales recorded in the Memphis Area Association of Realtors (MAAR) data property records database.

Sales decreased 11.7 percent from September, when there were 1,552 total sales.

Average sales price from October-to-October increased 0.6 percent to $149,165. Inventory decreased 1.9 percent, with 6,579 units listed for sale. Year-to-date (YTD) sales volume increased 1.5 percent to $2.04 billion.

Bartlett data

In October, Bartlett saw a 2.1 percent increase in home sales compared to the same month last year, and the median sales price rose by 18.8 percent to $175,000.

New home sales rose 75 percent, from eight last October to 14 this October.

The average sales price for October was up 9.4 percent from $158,083 in 2013 to $172,971 in 2014.

For the year to date (YTD), Bartlett’s total home sales are down compared to 2013 from 875 to 840 (a 4 percent decrease), but the median sales price has risen to $162,750 (a 5 percent increase).