MEMPHIS, Tenn. — Memphis-area home sales for August increased 13.1 percent from a year ago, with 1,483 total sales recorded in the Memphis Area Association of Realtors (MAAR) data property records database.
Sales were down 12 percent from July, when there were 1,685 total sales.
Average sales price from August-to-August was up 1.8 percent at $164,944. Inventory decreased 2.5 percent, with 6,374 units listed for sale.
Monthly sales volume YTD increased 8.8 percent to $1.74 billion.
“Eight months into the year, all the numbers are up,” said MAAR President Thomas Murphree. “And this August was stronger than in 2014.”
The MAAR data system includes records of all property transactions in Shelby, Fayette and Tipton counties.