2. MEDIAN SALES PRICE
MEMPHIS MLS
The Median Price for all homes sold in March was $129,900, which is 2% higher than the
median price in February and 4% higher than the median price in March 2014.
MARCH 2015
$129,900
$124,900
4%
MARCH 2015
MARCH 2014
$129,900
$90,000
$100,000
$110,000
$120,000
$130,000
$140,000
$150,000
$160,000
3. CLOSED TRANSACTIONS
MEMPHIS MLS
The Market Trend Report for March showed a 42% increase in the number of Closed
Transactions over February and a 24% increase over sales in March 2014.
MARCH 2015
1,001
805
24%
MARCH 2015
MARCH 2014
1,001
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 March was 86. This is 5 days
more than the average in February and 5 days less than the average in March 2014.
MARCH 2015
86
91
5%
MARCH 2015
MARCH 2014
86
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 March was 4.1 which is 31%
lower than February and a 23% decrease from March 2014.
MARCH 2015
4.1
5.3
23%
MARCH 2015
MARCH 2014
4.1
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
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).
