Memphis-area home sales for March dropped 9.8 percent from a year ago, with 1,164 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales increased 24.6 percent from February. Average sales price year-over-year rose 8.8 percent at $133,240. Inventory was up 2.9 percent, with 6,327 units listed for sale. Sales volume YTD increased 18.1 percent to $422.8 million.
“We saw a nice gain in sales from February to March, almost 25 percent,” said MAAR President Regina Hubbard. “Everything’s ahead of last year through the first quarter, so that’s good.”
Source: Memphis Area Association of Realtors