There are 21 article(s) tagged MAAR:
Lawrence Yun, chief economist and senior vice president of research at the National Association of Realtors, gave an update about commercial real estate on national and local levels.
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.
Hosted by the Memphis Area Association of Realtors Commercial Council, more than 160 people attended the event at the FedEx Event Center at Shelby Farms to recognize the top commercial real-estate professionals of 2023.
Year-to-date home sales hit 2,344, up 18% from the same period a year ago. However, sales were down from last month.
Despite last year’s declining inventory, there were 3,319 houses on the market in January, up 3.1% from December and 19% from January 2023.
The shortage of houses on the market, price increases and the rise of interest rates have resulted in a national trend of declining home sales, said the president of the Memphis Area Association of Realtors.
In December, the average sales price for a house was $262,144, up 6.2%.
East Memphis had the highest total home sales, and Southwind had the lowest.
August home sales in the Memphis area were down 18% compared to the same month a year ago, and year-to-date sales dropped 26%.
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.
“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 (MAAR) annual Make-A-Wish Golf Tournament is the single-largest external fundraising event for Make-A-Wish Mid-South, exceeding $500,000 in the event’s 11-year history.
Most suburbs saw more homes sell than the year prior. The seller’s market and low inventory continue to drive prices upward.
A who’s who of the top local commercial real estate professionals gathered Downtown for the 20th annual Memphis Area Association of Realtors (MAAR) Pinnacle Awards.
The proposal by Assessor Melvin Burgess would have moved the cycle of countywide property reappraisals for taxation purposes from once every four years to every other year.
The number of houses sold in December rose 10.7 percent compared to a year earlier. And for the entire pandemic-plagued year of 2020, house sales still climbed slightly.
Neither COVID-19 nor the shrinking number of houses on the market prevented home sales in the Memphis area from rising 6.4% in October.
The number of February home sales in the Memphis area rose 3 percent from February 2019, but the number of houses for sale – already persistently low for years – fell another 13.5 percent from a year ago, according to the Memphis Area Association of Realtors.
Spencer Shadrach plans to sell the home for $230,000 to $250,000, while the average home sale price in the neighborhood the last two years is $50,278.
Shelby County's suburban cities and towns have recorded fewer home sales in 2019's sellers' market, although Millington and Lakeland could beat last year's sale numbers.
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