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Tuesday, November 22, 2011

MAAR Releases October Market Report

Memphis-area home sales for October declined 2.9 percent from a year ago, with 1,054 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales fell 2.7 percent from September, when there were 1,083 sales. Average sales price year-over-year was down 1.5 percent and year-to-date was also down 1.5 percent at $126,080. YTD total sales declined 10.9 percent. Inventory was down 2.3 percent from the previous month, with 8,053 units listed for sale. YTD sales volume fell 12.3 percent to $1.36 billion.

“This October’s numbers really aren’t that different from a year ago,” said MAAR President Leon Dickson. “We’re behind year-to-date, but the economy hasn’t provided much help.”

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