MARKETReport
Memphis Area Home Sales Report March 2017 Sales Summary March Total Sales Units Median Sales Price Average Sales Price
Units Median Sales Price Average Sales Price
Units Median Sales Price Average Sales Price
Units Median Sales Price Average Sales Price
Units Median Sales Price Average Sales Price
2017 1,634 $120,000 $155,124
2016 1,395 $125,000 $151,045
YTD Total Sales % change 17.1% -4.0% 2.7%
2017 3,996 $117,000 $151,888
2016 3,524 $115,000 $144,227
% change 13.4% 1.7% 5.3%
March Existing Sales
YTD Existing Home Sales
2017 2016 % change 1,559 1,334 16.9% $115,000 $118,000 -2.5% $146,678 $144,373 1.6% March New Home Sales
2017 2016 % change 3,814 3,356 13.6% $110,000 $107,500 2.3% $144,264 $137,079 5.2% YTD New Home Sales
2017 75 $289,900 $330,697
2016 % change 61 23.0% $267,000 8.6% $296,363 11.6% March Bank Sales
2017 182 $279,056 $311,657
2016 % change 168 8.3% $257,800 8.2% $287,010 8.6% YTD Bank Sales*
2017 2016 % change 125 203 -38.4% $48,000 $54,000 -11.1% $74,310 $80,125 -7.3% March Non-Bank Sales
2017 368 $51,000 $75,693
2016 % change 537 -31.5% $45,000 13.3% $68,740 10.1% YTD Non-Bank Sales
2017 1,509 $127,600 $161,819
2017 3,628 $125,000 $159,617
2016 1,192 $139,900 $163,123
% change 26.6% -8.8% -0.8%
2016 2,987 $130,000 $157,798
% change 21.5% -3.8% 1.2%
AUG
SEP
1,367 1,487
MAY2015 JUN2016 JUL 2017
1,489
APR
1,086
1,685 1,621
1,663 1,781
MAR
1,336 1,523
FEB
1,424 1,616
JAN
1,483 1,738
1,000
1,384 1,539
1,200
934 1040 1,130
1,400
1,033 956 1,134
1,600
1,268 1,511
1,800
1,270 1,352 1,634
Data compiled from deeds that were recorded in Shelby, Fayette and Tipton counties. *Bank sales represent all warranty deeds recorded in Shelby, Fayette and Tipton counties where the seller was a bank, REO company, or other similar institution.
800 600 400 200 0 OCT
NOV Source is DEC MAARdata unless otherwise noted.
Memphis Area Home Sales Report March Sep 2017 Active Listings, Pending Sales and Foreclosure Action Summary Active Listings (as of 03-15-17)
Pending Sales (as of 03-15-17)
Units 4,253 152 59 4,464
Units 1,382 64 6 1,452
Single Family Condo/Co-op Duplex Market Total
Ave. List Price $252,873 $183,890 $102,730 $248,540
Single Family Condo/Co-op Duplex Market Total
March Foreclosure Actions 2017 187
Total
2016 234
Ave. List Price $180,418 $238,889 $97,900 $182,654
YTD Foreclosure Actions
% change -20.1%
2017 526
2016 63
% change -17.4%
Compiled from trustee deeds recorded in Shelby, Fayette and Tipton counties.
6,000 5,800 5,600 5,400 5,200 5,000 4,800 4,600 4,400 4,200 4,000
Inventory Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16
6,057 6,338 6,472 6,539 6,374 6,404 6,291 6,086 5,793 5,377 5,474 5,564
Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-17 Jan-17 Feb-17 Mar-17
5,595 5,535 5,639 5,732 5,666 5,504 5,399 5,235 4,715 4,344 4,500 4,464
Mar17
Feb17
Jan17
Dec16
Nov16
Oct16
Sept16
Aug16
July16
June16
May16
Apr16
Mar16
Feb16
Jan16
Active Listings: Trend and 24-Month Totals
Southwind
Hickory Hill
Parkway Village/ Oakhaven
Whitehaven E. Memphis
Berclair/ Highland Heights
S. Memphis
Midtown
Downtown
Raleigh/ Cov. Pike
Frayser
March 2017
Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price
2017 89 $27,000 $35,445 86 $70,000 $68,558 52 $234,000 $244,763 74 $138,200 $161,106 43 $24,000 $26,519 47 $39,000 $40,883 282 $124,750 $168,705 84 $58,425 $59,170 57 $59,000 $59,965 131 $88,000 $91,639 12 $191,000 $228,753
March Total Sales 2016 64 $22,000 $43,148 69 $70,000 $69,241 35 $222,000 $245,915 84 $120,000 $139,521 38 $13,700 $18,176 56 $32,900 $34,233 232 $126,250 $164,698 55 $41,100 $51,957 49 $45,000 $47,185 97 $90,000 $94,555 11 $185,000 $220,336
% change 39.1% 22.7% -17.9% 24.6% 0.0% -1.0% 48.6% 5.4% -0.5% -11.9% 15.2% 15.5% 13.2% 75.2% 45.9% -16.1% 18.5% 19.4% 21.6% -1.2% 2.4% 52.7% 42.2% 13.9% 16.3% 31.1% 27.1% 35.1% -2.2% -3.1% 9.1% 3.2% 3.8%
March Existing Sales 2017 2016 % change 89 64 39.1% $27,000 $22,000 22.7% $35,445 $43,148 -17.9% 86 69 24.6% $70,000 $70,000 0.0% $68,558 $69,241 -1.0% 52 34 52.9% $234,000 $222,000 5.4% $244,763 $243,619 0.5% 74 84 -11.9% $138,200 $120,000 15.2% $161,106 $139,521 15.5% 43 38 13.2% $24,000 $13,700 75.2% $26,519 $18,176 45.9% 47 56 -16.1% $39,000 $32,900 18.5% $40,883 $34,233 19.4% 281 232 21.1% $124,500 $126,250 -1.4% $167,854 $164,698 1.9% 83 55 50.9% $56,850 $41,100 38.3% $57,450 $51,957 10.6% 57 49 16.3% $59,000 $45,000 31.1% $59,965 $47,185 27.1% 124 94 31.9% $85,000 $90,000 -5.6% $88,562 $90,308 -1.9% 11 11 0.0% $184,500 $185,000 -0.3% $216,181 $220,336 -1.9%
March New Home Sales 2017 2016 % change
1
2017 5 $13,000 $13,864 12 $41,600 $40,273 2
$324,000 1
$15,488 2
$293,500
1 $408,000 1 $202,000
7 $99,000 $146,132 1 $367,041
3 $215,059 $227,619
133.3% -54.0% -35.8%
March Bank Sales 2016 16 $16,960 $25,778 17 $54,000 $44,342 1
% change -68.8% -23.3% -46.2% -29.4% -23.0% -9.2% 100.0% -71.9% -77.8%
$69,530 5 $6,000 $17,200 6 $30,870 $26,426 17 $67,447 $90,943 16 $46,242 $45,665 9 $31,353 $35,311 13 $55,000 $58,805 1
$55,062 9 $82,000 $100,346 12 $10,250 $12,207 11 $25,299 $25,447 24 $37,500 $63,909 18 $24,750 $32,324 5 $27,010 $24,782 19 $57,500 $76,168 1
$265,000
$345,000
-23.2%
-30.7% -58.3% -41.5% 40.9% -45.5% 22.0% 3.8% -29.2% 79.9% 42.3% -11.1% 86.8% 41.3% 80.0% 16.1% 42.5% -31.6% -4.3% -22.8% 0.0%
Tipton County
Fayette County
Shelby County
Millington
Arlington
Lakeland
Collierville
G'town
Bartlett
Cordova
March 2017
Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price
2017 195 $150,000 $160,723 108 $191,000 $190,200 69 $280,000 $345,275 99 $310,000 $336,656 17 $325,000 $270,411 25 $243,900 $248,355 22 $117,450 $123,717 1,494 $117,000 $154,668 53 $170,400 $209,296 87 $130,000 $129,962
March Total Sales 2016 % change 172 13.4% $153,450 -2.2% $162,552 -1.1% 99 9.1% $159,300 19.9% $165,237 15.1% 54 27.8% $245,000 14.3% $298,078 15.8% 88 12.5% $309,950 0.0% $330,391 1.9% 18 -5.6% $259,024 25.5% $271,730 -0.5% 31 -19.4% $226,700 7.6% $227,887 9.0% 19 15.8% $109,900 6.9% $130,531 -5.2% 1,255 19.0% $120,000 -2.5% $150,597 2.7% 61 -13.1% $179,000 -4.8% $186,622 12.1% 79 10.1% $130,000 0.0% $130,702 -0.6%
March Existing Sales 2017 2016 % change 178 159 11.9% $145,500 $148,900 -2.3% $150,722 $157,812 -4.5% 97 86 12.8% $180,000 $148,612 21.1% $181,129 $151,374 19.7% 65 53 22.6% $262,000 $245,000 6.9% $314,820 $293,231 7.4% 86 78 10.3% $298,000 $297,500 0.2% $315,806 $308,214 2.5% 15 16 -6.3% $217,000 $250,150 -13.3% $249,333 $267,259 -6.7% 22 28 -21.4% $228,450 $221,250 3.3% $241,818 $221,241 9.3% 22 19 15.8% $117,450 $109,900 6.9% $123,717 $130,531 -5.2% 1,434 1,209 18.6% $110,650 $115,000 -3.8% $146,662 $144,509 1.5% 43 50 -14.0% $165,000 $157,500 4.8% $195,562 $173,135 13.0% 82 75 9.3% $125,250 $127,000 -1.4% $121,323 $123,005 -1.4%
March New Home Sales 2017 2016 % change 17 13 30.8% $286,600 $188,170 52.3% $265,432 $220,523 20.4% 11 13 -15.4% $263,797 $255,545 3.2% $270,184 $256,947 5.2% 4 1 300.0% $820,602 $840,176 $555,000 51.4% 13 10 30.0% $438,964 $434,657 1.0% $474,593 $503,367 -5.7% 2 2 0.0% $428,499 3 $292,044 $296,298
60 $305,016 $346,010 10 $239,636 $268,349 5 $271,900 $271,635
$307,499 3 $276,865 $289,921
46 $269,784 $310,596 11 $219,900 $247,930 4 $301,250 $275,030
2017 7 $97,500 $127,778 3 $185,000 $167,371
2 $396,000
39.4% 0.0% 5.5% 2.2%
30.4% 13.1% 11.4% -9.1% 9.0% 8.2% 25.0% -9.7% -1.2%
3 $125,000 $125,155 105 $47,740 $71,884 7 $129,000 $125,871 13 $57,300 $66,145
March Bank Sales 2016 19 $91,250 $166,291 15 $123,610 $133,861 2 $563,250 1 $82,000 2 $222,999 3 $276,000 $229,166 5 $68,500 $93,980 180 $46,156 $80,550 7 $96,000 $91,407 16 $75,523 $70,417
% change -63.2% 6.8% -23.2% -80.0% 49.7% 25.0%
100.0% 382.9%
-40.0% 82.5% 33.2% -41.7% 3.4% -10.8% 0.0% 34.4% 37.7% -18.7% -22.1% -6.1%
Southwind
Hickory Hill
Parkway Village/ Oakhaven
Whitehaven E. Memphis
Berclair/ Highland Heights
S. Memphis
Midtown
Downtown
Raleigh/ Cov. Pike
Frayser
March 2017
Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price
2017 215 $26,000 $37,055 252 $72,577 $73,035 113 $230,000 $233,929 179 $129,900 $145,774 120 $21,500 $26,586 121 $39,000 $41,643 670 $119,900 $165,412 203 $53,000 $56,492 157 $60,000 $59,582 306 $89,000 $95,609 35 $187,354 $232,843
YTD Total Sales 2016 % change 183 17.5% $21,500 20.9% $38,700 -4.3% 211 19.4% $65,000 11.7% $69,742 4.7% 85 32.9% $197,922 16.2% $201,640 16.0% 184 -2.7% $118,350 9.8% $140,402 3.8% 107 12.1% $14,200 51.4% $19,235 38.2% 140 -13.6% $27,553 41.5% $33,886 22.9% 592 13.2% $118,250 1.4% $165,380 0.0% 173 17.3% $46,311 14.4% $52,975 6.6% 134 17.2% $39,950 50.2% $47,328 25.9% 257 19.1% $88,950 0.1% $91,809 4.1% 26 34.6% $177,500 5.6% $224,524 3.7%
2017 215 $26,000 $37,055 252 $72,577 $73,035 112 $230,000 $233,734 178 $129,450 $144,944 120 $21,500 $26,586 121 $39,000 $41,643 668 $119,845 $164,813 202 $52,100 $55,772 157 $60,000 $59,582 293 $85,000 $92,912 31 $184,000 $224,962
YTD Existing Sales 2016 % change 182 18.1% $21,250 22.4% $38,567 -3.9% 201 25.4% $63,900 13.6% $65,938 10.8% 82 36.6% $196,461 17.1% $199,164 17.4% 184 -3.3% $118,350 9.4% $140,402 3.2% 107 12.1% $14,200 51.4% $19,235 38.2% 140 -13.6% $27,553 41.5% $33,886 22.9% 591 13.0% $118,000 1.6% $165,386 -0.3% 173 16.8% $46,311 12.5% $52,975 5.3% 133 18.0% $39,900 50.4% $47,000 26.8% 248 18.2% $87,750 -3.1% $88,330 5.2% 26 19.2% $177,500 3.7% $224,524 0.2%
YTD New Home Sales 2017 2016 % change 1
1 $255,738 1
$63,000 10 $153,900 $146,210 3 $324,000 $269,333
-66.7% -5.1%
$293,500
2
1
100.0%
$365,500 1
$162,000
125.6%
$202,000 1
13 $174,900 $156,387 4 $292,867 $293,921
$91,000 9 $190,900 $187,681
44.4% -8.4% -16.7%
YTD Bank Sales 2017 2016 % change 18 44 -59.1% $17,450 $16,000 9.1% $18,280 $27,007 -32.3% 33 47 -29.8% $45,000 $49,240 -8.6% $45,978 $48,729 -5.6% 5 7 -28.6% $31,000 $42,000 -26.2% $35,302 $38,181 -7.5% 7 23 -69.6% $72,500 $28,000 158.9% $99,614 $61,883 61.0% 18 32 -43.8% $11,250 $10,250 9.8% $14,890 $12,459 19.5% 17 28 -39.3% $33,000 $21,600 52.8% $33,994 $22,799 49.1% 44 59 -25.4% $41,790 $32,694 27.8% $77,699 $50,405 54.1% 42 44 -4.5% $38,981 $26,712 45.9% $42,535 $33,627 26.5% 26 25 4.0% $40,001 $28,000 42.9% $43,036 $29,421 46.3% 32 55 -41.8% $57,875 $54,639 5.9% $67,226 $63,583 5.7% 7 4 75.0% $110,000 $166,150 -33.8% $139,943 $193,824 -27.8%
Tipton County
Fayette County
Shelby County
Millington
Arlington
Lakeland
Collierville
G'town
Bartlett
Cordova
March 2017
Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price Units Median Sales Price Ave. Sales Price
2017 483 $147,500 $158,306 269 $193,000 $195,824 149 $284,000 $343,779 207 $316,000 $332,253 64 $228,500 $258,739 75 $255,000 $253,717 50 $94,500 $105,425 3,646 $113,000 $149,932 151 $176,400 $224,057 199 $130,000 $132,972
YTD Total Sales 2016 % change 438 10.3% $141,000 4.6% $156,825 0.9% 231 16.5% $169,000 14.2% $174,863 12.0% 134 11.2% $245,000 15.9% $281,315 22.2% 206 0.5% $304,500 3.8% $320,999 3.5% 49 30.6% $260,000 -12.1% $268,639 -3.7% 65 15.4% $217,500 17.2% $222,868 13.8% 50 0.0% $91,450 3.3% $111,888 -5.8% 3,217 13.3% $110,000 2.7% $142,937 4.9% 138 9.4% $178,450 -1.1% $189,711 18.1% 169 17.8% $130,000 0.0% $131,644 1.0%
2017 443 $139,000 $151,578 231 $178,900 $181,719 144 $282,675 $325,847 184 $298,000 $315,507 60 $218,500 $251,987 64 $232,500 $239,053 50 $94,500 $105,425 3,503 $107,500 $143,235 127 $165,000 $205,614 184 $124,750 $121,502
YTD Existing Sales 2016 % change 410 8.0% $138,000 0.7% $152,330 -0.5% 195 18.5% $155,000 15.4% $159,625 13.8% 131 9.9% $242,500 16.6% $273,832 19.0% 180 2.2% $286,500 4.0% $297,823 5.9% 47 27.7% $252,000 -13.3% $266,985 -5.6% 55 16.4% $204,256 13.8% $209,606 14.0% 50 0.0% $91,450 3.3% $111,888 -5.8% 3,087 13.5% $104,900 2.5% $136,747 4.7% 111 14.4% $154,900 6.5% $167,154 23.0% 158 16.5% $126,000 -1.0% $122,451 -0.8%
YTD New Home Sales 2017 2016 % change 40 28 42.9% $202,042 $207,950 -2.8% $232,815 $222,648 4.6% 38 36 5.6% $263,349 $248,522 6.0% $281,572 $257,405 9.4% 5 3 66.7% $900,000 $623,210 44.4% $860,224 $608,066 41.5% 23 26 -11.5% $445,000 $462,002 -3.7% $466,226 $481,451 -3.2% 4 2 100.0% $355,044 $360,022 $307,499 17.1% 11 10 10.0% $320,900 $293,326 9.4% $339,037 $295,806 14.6%
143 $283,110 $313,966 24 $258,728 $321,647 15 $279,000 $273,665
130 $261,921 $289,930 27 $239,900 $282,448 11 $257,900 $263,692
10.0% 8.1% 8.3% -11.1% 7.8% 13.9% 36.4% 8.2% 4.0%
2017 28 $99,088 $115,372 10 $128,588 $141,729 1 $232,500 8 $236,842 $255,416 5 $207,500 $205,103 2 $123,025 10 $72,500 $109,896 310 $49,500 $72,618 17 $129,000 $155,853 41 $57,500 $65,702
YTD Bank Sales 2016 % change 53 -47.2% $93,000 6.6% $120,139 -4.0% 36 -72.2% $134,738 -4.6% $137,574 3.0% 4 -75.0% $220,135 $357,567 -35.0% 7 14.3% $201,750 17.4% $202,778 26.0% 4 25.0% $143,000 45.1% $175,124 17.1% 8 -75.0% $180,750 $187,062 -34.2% 14 -28.6% $66,750 8.6% $84,961 29.4% 488 -36.5% $42,850 15.5% $68,470 6.1% 16 6.3% $78,163 65.0% $86,606 80.0% 33 24.2% $54,256 6.0% $64,057 2.6%
NEWS RELEASE FOR IMMEDIATE RELEASE
Contact: Don Wade 901.485.1653 don.wade@maar.org Tommie Criswell 901.230.7653 tommie@crye-leike.com
March Market Report MEMPHIS, Tenn., April 6, 2017 – Memphis-area home sales for March increased 17.1 percent from a year ago, with 1,634 total sales recorded in the Memphis Area Association of REALTORSŽ MAARdata property records database. Sales were up 44.6 percent from February, when there were 1,130 total sales. Average sales price from March-to-March was up 2.7 percent, at $155,124. Inventory decreased 0.8 percent, with 4,464 units listed for sale. Year-to-Date sales volume was up 19.4 percent at $606.9 million. March Comparison
Total Home Sales Median Sales Price Average Sales Price Monthly Sales Volume
2017 1,634 $120,000 $155,124 $253.5 million
2016 1,395 $125,000 $151,045 $210.7 million
% Change 17.1% -4.0% 2.7% 20.3%
Year-to-Date Comparison
Total Home Sales Median Sales Price Average Sales Price Monthly Sales Volume
2017 3,996 $117,000 $151,888 $606.9 million
2016 3,524 $115,000 $144,227 $508.3 million
% Change 13.4% 1.7% 5.3% 19.4%
Historical home sales statistics are located at www.maar.org/marketreports. - more -
“We obviously saw a huge jump in sales from February to March,” said MAAR President Tommie Criswell. “Some of that is seasonal, but it’s also a sign of this market’s strength.” Serving the Mid-South for more than 100 years as the Voice for Local Real Estate, the Memphis Area Association of REALTORS® serves and represents real estate professionals as well as provides real estate information to the general public. About 3,400 members unite to make up one of Tennessee’s largest local REALTOR® organizations with real estate expertise stretching throughout the greater Memphis area. The MAARdata system includes records of all property transactions in Shelby, Fayette and Tipton counties. The MLS includes listings in Shelby, Fayette, Tipton, Hardeman, Hardin, McNairy, and Lauderdale counties in Tennessee; DeSoto County in Mississippi; and Crittenden County in Arkansas. MAAR members subscribe to the National Association of REALTORS® Code of Ethics. For more information, visit MAAR’s Web site at www.maar.org. ###
John Green & Company Realtors 108 East Mulberry Street Collierville, TN 38017 901.853.0763 johngreen.com