MAAR Releases March Market Report

Memphis-area home sales for March rose 19.8 percent from a year ago, with 1,281 total sales recorded in the Memphis Area Association of REALTORS^® MAARdata property records database. Total sales jumped 29.1 percent from February. Average sales price year-over-year was down 7.7 percent at $113,156. Inventory was flat, at 6,897 units listed for sale. Sales volume YTD increased 12 percent to $354.3 million.

“I feel pretty good about the first three months, being up 12 percent in sales volume from this time a year ago,” said MAAR President Carol Lott. “We also saw a forward move in median sales price from last March to this March. Very positive.”

Source: Memphis Area Association of Realtors