The median home sales price in Memphis in September 2014 was $141,250, which was 4% lower than August 2014 but 8% higher than September 2013. The number of closed home sales transactions decreased 11% from August 2014 and 1% from September 2013. The average days on the market for homes sold was 78 days, which was 3 days more than August 2014 and 6 days less than September 2013. The months supply of inventory was 6.6 months at the end of September 2014, which was 22% higher than August 2014 and 10% higher than September 2013.

1. SEPTEMBER 2014
MEMPHIS MLS

2. MEDIAN SALES PRICE
MEMPHIS MLS
The Median Price for all homes sold in September was $141,250, which is 4% lower than the median price in August and 8% higher than the price in September 2013.
SEPTEMBER 2014
SEPTEMBER 2013
$141,250
$131,008
8%
SEPTEMBER 2014
$141,250
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000

3. CLOSED TRANSACTIONS
MEMPHIS MLS
The Market Trend Report for September showed an 11% decrease in the number of Closed Transactions over August and a 1% decrease over sales in September 2013.
962
974
1%
SEPTEMBER 2014
SEPTEMBER 2013
SEPTEMBER 2014
962
0
200
400
600
800
1000
1200

4. DAYS ON THE MARKET
MEMPHIS MLS
The average Days on the Market for all homes sold in September was 78. This is 3 days more than the average in August and 6 days less than the average in September 2013.
7%
78
84
SEPTEMBER 2014
SEPTEMBER 2013
SEPTEMBER 2014
78
0
10
20
30
40
50
60
70
80
90
100

5. MONTHS SUPPLY OF
INVENTORY
MEMPHIS MLS
The number of Months Supply of Inventory at the end of September was 6.6 which is 22% higher than August and 10% higher than September 2013.
6.6
6.0
10%
SEPTEMBER 2014
SEPTEMBER 2013
SEPTEMBER 2014
6.6
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0

6. Description
The Market Trend Report is distributed each month on or about the 15th. The Report is based on data provided by Terradatum from the local Memphis Multiple Listing Service and is not annualized. While MLS and Terradatum data are believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Data for prior periods is not being recalculated for this report.
Definitions
Median Sales Price is the median price of all residential properties sold during the month. Closed Transactions are the number of residential transactions closed during the given month. Days on the Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Months Supply of Inventory is the total number of residential properties listed for sale at the end of the month (active inventory) divided by the number of sales contracts signed (pended) during the month).