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Monday, August 6, 2012

July Market Report Shows Home Sales Up

Memphis-area home sales for July rose 7.4 percent from a year ago, with 1,385 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales increased 8.5 percent from June. Average sales price year-over-year was up 14.1 percent at $147,373. Inventory was up 1.1 percent, with 7,615 units listed for sale. Sales volume YTD increased 20 percent to $1.1 billion.

“The Memphis housing market is on the rise,” said MAAR President Carol Lott. “Sales and prcing are up, both year-over-year and year-to-date. Sales volume is way ahead of last year.”

Source: Memphis Area Association of Realtors

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