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Thursday, July 7, 2011

MAAR Releases June Market Report

Memphis-area home sales for June rose 4.5 percent from a year ago, with 1,612 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Existing home sales were up 5.8 percent from 2010. Total sales increased 16.1 percent from May (1,389). Average sales price year-over-year was off 3.2 percent at $124,294. Year to date, total sales were down 12.4 percent. Inventory was flat, with 8,554 units listed for sale. YTD sales volume declined 15.2 percent to $840.1 million.

“We’re seeing more activity, more sales,” said MAAR President Leon Dickson. “The pricing reflects a buyer’s market and all the challenges that remain in the greater economy.”

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