The Memphis Area Association of Realtors (MAAR)
has released the July 2015 Market Report. The report shows July 2015 sales compared
to July 2014 for the overall Memphis area (which includes sales in Shelby,
Fayette, and Tipton counties) increased by 12.6%. Sales were up 1.3% from June, when there were a total of 1,663 sales. The average sales price from July-to-July was down 3.3% at
$162,773. Inventory increased 1.0 percent, with 6,539 units listed for sale. Monthly sales volume YTD increased 7.2 percent to $1.48 billion.
Foreclosure Sales continue
to decrease. Year-to-date 2014 there were 1,419 bank sales as compared to 1,297 this year – an 8.6% decline. Even the bank sales showed an increase in the average sales price of 3.3% over 2014. This news may not be good news for investors; however, it
is good news for the Memphis housing market.
For an in-depth report
of Market trends for the Memphis area, click on the link below.
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