MAAR Releases June Market Report

Memphis-area home sales for June decreased 2.4 percent from a year ago, with 1,277 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales dropped 11.4 percent from May. Average sales price year-over-year was up 9.4 percent at $146,198. Inventory was up 2.2 percent, with 7,529 units listed for sale. Sales volume YTD increased 16.6 percent to $873.1 million.

“At the halfway point for the year, we are up 16 percent in sales and volume,” said MAAR President Carol Lott. “And we saw a nice uptick in average sales price year-over-year, so that’s good, too.” Source: Memphis Area Association of Realtors