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Friday, September 21, 2012

Memphis Area August Market Report

Memphis-area home sales for August jumped 14.2 percent from a year ago, with 1,514 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales increased 9.3 percent from July. Average sales price year-over-year was up 1.5 percent at $128,472. Inventory declined 1.2 percent, with 7,522 units listed for sale. Sales volume YTD increased 18.2 percent to $1.3 billion.

“Sales were pretty robust in August,” said MAAR President Carol Lott. “But the better indicator is that we are well ahead in sales and sales volume year-to-date. That’s encouraging for the market.”

Source: Memphis Area Association of Realtors

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