MEMPHIS, Tenn., July 7, 2017 – Memphis-area home sales for June increased 4.2 percent from a year ago, with 1,887 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were up 6.1 percent from May when there were 1,779 total sales. Average sales price from June-to-June was up 1.6 percent, at $186,626. Inventory increased 1.7 percent, with 4,777 units listed for sale. Year-to-Date sales volume was up 13.3 percent at $1.53 billion.
“Both in sales and pricing, the market is very healthy,” said MAAR President Tommie Criswell. “Halfway through the year, we’re up substantially over 2016.” 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. MAAR members subscribe to the National Association of REALTORS® Code of Ethics. For more information, visit MAAR’s Web site at www.maar.org
Provided by the Memphis Area Association of REALTORS®