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Saturday, September 17, 2011

MAAR Releases August Market Report

Memphis-area home sales for August climbed 13.1 percent from a year ago, with 1,313 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales increased 1.9 percent from July when there were 1,289 sales. Average sales price year-over-year was up 2.6 percent and year-to-date was down 1.3 percent at $126,210. YTD total sales fell 13.2 percent. Inventory was down 1.5 percent, with 8,370 units listed for sale. YTD sales volume declined 14.1 percent to $1.1 billion.

“The numbers are up a good bit from a year ago when the market was recalibrating after the end of the tax credit,” said MAAR President Leon Dickson. “Year-to-date the sales are obviously lower, but average sales price is holding pretty steady.”

Source: Memphis Area Association of Realtors

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