Memphis-area home sales for January rose 12.3 percent from a year ago, with 850 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales declined 5.3 percent from December. Average sales price year-over-year was down 7.1 percent at $113,270. Inventory dropped 5.1 percent from the previous month, with 6,828 units listed for sale. Sales volume year-over-year climbed 4.3 percent to $96.3 million.
“It’s nice to see sales up more than 12 percent from this time last year,” said MAAR President Carol Lott. “Hopefully, there is some momentum beginning to build as buyers recognize the good opportunities out there.”
Source: Memphis Area Association of Realtors