Memphis-area home sales for February climbed 31.6 percent from a year ago, with 992 total sales recorded in the Memphis Area Association of Realtors MAARdata property records database. Total sales rose 14.3 percent from January. Average sales price year-over-year was down 14.2 percent at $100,788. Inventory was flat, at 6,873 units listed for sale. Sales volume YTD increased 9.2 percent to $197.5 million.
“Not only did we see a huge jump in sales from this time a year ago, but we had a nice increase from the previous month,” said MAAR President Carol Lott. “There is more optimism out there then we’ve seen in a long time.”