Available homes in the Memphis market are becoming fewer and harder to find. In the March 2017 Market Report published by the Memphis Area Association of REALTORS®, inventory of available homes has dropped by 1000 units from March 2016 to March 2017. To review the entire report click here.
Memphis-area home sales for March increased 17.1 percent from a year ago, with 1,634 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 44.6 percent from February, when there were 1,130 total sales. Average sales price from March-to-March was up 2.7 percent, at $155,124. Inventory decreased 0.8 percent, with 4,464 units listed for sale. Year-to-Date sales volume was up 19.4 percent at $606.9 million.
Serving the Mid-South for more than 100 years as the Voice for Local Real Estate, the Memphis Area Association of REALTORS® serves and represents real estate professionals as well as provides real estate information to the general public. About 3,400 members unite to make up one of Tennessee’s largest local REALTOR® organizations with real estate expertise stretching throughout the greater Memphis area. The MAARdata system includes records of all property transactions in Shelby, Fayette and Tipton counties. The MLS includes listings in Shelby, Fayette, Tipton, Hardeman, Hardin, McNairy, and Lauderdale counties in Tennessee; DeSoto County in Mississippi; and Crittenden County in Arkansas.
Courtesy of the Memphis Area Association of REALTORS®