Memphis-area home sales for May increased 24.8 percent from a year ago, with 1,441 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales jumped 23.6 percent from April. Average sales price year-over-year was up 1.0 percent at $124,736. Inventory was up 3.0 percent, with 7,370 units listed for sale. Sales volume YTD increased 19.3 percent to $684.7 million.
“It was a strong month,” said MAAR President Carol Lott. “The market has some momentum and we are well ahead on sales and volume from this point in 2011.”
Source: Memphis Area Association of Realtors