memphis mls june 2014 market trends
DESCRIPTION
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JUNE 2014MEMPHIS MLS
MEDIAN SALES PRICE
MEMPHIS MLS
The Median Price for all homes sold in June was $150,000, which is 4% higher than the median price in May and 4% higher than the price in June 2013.
JUNE 2014
JUNE 2013
$150,000
$144,5004%
JUNE 2014
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000 $150,000
CLOSED TRANSACTIONS
MEMPHIS MLS
The Market Trend Report for June showed a 12% increase in the number of Closed Transactions over May and a 3% decrease over sales in June 2013.
1,142
1,1833%
JUNE 2014
JUNE 2013
JUNE 2014
0
200
400
600
800
1000
1200
1400 1,142
DAYS ON THE MARKET
MEMPHIS MLS
The average Days on the Market for all homes sold in June was 75. This is 1 day less than the average in May and 10 days less than the average in June 2013.
12%
75
85
JUNE 2014
JUNE 2013
JUNE 2014
0102030405060708090
100
75
MONTHS SUPPLY OFINVENTORY
MEMPHIS MLS
The number of Months Supply of Inventory at the end of June was 0.7 which is a 30% decrease from May and an 85% decrease from June 2013.
0.7
4.8
85%
JUNE 2014
JUNE 2013
JUNE 2014
Jun-13
Jun-13
Jun-13Jul-13Jul-13
Aug-13
Aug-13
Sep-13
Sep-13
Oct-13
Oct-13
Nov-13
Nov-13
Nov-13
Dec-13
Dec-13
Jan-14
Jan-14
Feb-14
Feb-14
Mar-14
Mar-14
Apr-14
Apr-14
May-14
May-14
May-14
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
0.7
DescriptionThe 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.
DefinitionsMedian 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).