There are 22 article(s) tagged Home sales:
“Huge increase in April sales from last year,” said Memphis Area Association of Realtors President Scott Bettis in the report. “There was also a sizable jump from March, and we’re now up more than 10% in sales for the calendar year.”
March total home sales were down almost 10% from last year but up 12.5% from February, according to the Memphis Area Association of Realtors housing-market report.
Year-to-date home sales hit 2,344, up 18% from the same period a year ago. However, sales were down from last month.
In December, the average sales price for a house was $262,144, up 6.2%.
Interest rates and other factors have led to a slowdown in the Memphis-area housing market. But experts believe the situation is not as troublesome as the Great Recession.
East Memphis had the highest total home sales, and Southwind had the lowest.
September’s monthly sales volume was $366 million, down 28.2% compared to the $510.1 million recorded in September 2022, according to the Memphis Area Association of Realtors September market report.
In Shelby County, 1,120 total sales were recorded for July compared to last July’s 1,819 units — a 38.4% decrease. The average sales price was $292,978, an 11% increase from $263,922.
Although total home sales have decreased from last year, June sales rose 43.3% over May’s sales.
Suburban home sales dipped in 2022, and new home sales remained low compared to the previous year.
Nationally, home sales notched their longest streak of declines in 23 years as sales dropped for a 10th consecutive month in November.
The Memphis area saw a 15.5% increase in average sales price last month compared to a year ago, and Whitehaven’s increase was 80%.
The future of home sales, both existing and new construction looks bright for the three suburbs in Northeast Shelby County.
“It’s competitive when making an offer, especially with inventory running a little low,” MAAR president Bill Stewart said in a statement.
The Memphis Area Association of Realtors recorded 1,929 total home sales last month.
MAAR president Cassandra Bell-Warren said the market remains active.
A peek at the best images from this week. We learned about some places around town to grab a glance at the spring flowers, and if you want a home of your own to enjoy gardening, we’ve got that covered too. Oh, and MemPops and high school soccer are back, in person.
The number of houses sold in Shelby, Fayette and Tipton counties in February dropped 5.2% from a year earlier. But the week of snowy weather was likely a factor.
The average sales price for Memphis-area homes this August rose to $221,098, up 13.3% from $195,134 in August 2019.
The number of houses for sale in the Memphis area has dropped by a third over the past year.
The pandemic gets the blame for putting a hard brake on home sales in the Memphis area. But the average price for homes continues to rise and the year-to-date sales volume is still ahead of 2019.
Housing inventory and interest rates remain very low in the Memphis MLS, providing plenty of fuel for more new-home construction.
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