Memphis-area home sales for January increased 46.1 percent from a year ago, with 1,259 total sales recorded in the Memphis Area Association of Realtors MAARdata property records database. Total sales rose 8.9 percent from December. Average sales price was up 7.3 percent at $123,696. Inventory declined 6.3 percent, with 6,070 units listed for sale. Sales volume for the month year-over-year increased 56.6 percent to $155.7 million.
“What a great start to 2013,” said MAAR President Regina Hubbard. “Almost a 50 percent jump in sales and more than a 50 percent rise in sales volume. And sales went up nearly 9 percent from December, too.”
Source: Memphis Area Association of Realtors