Memphis Home Statistics for November 2014

The Memphis Area Association of Realtors (MAAR) has released the November Market Report. The report shows year-to-date sales for the overall Memphis area (which includes sales in Shelby, Fayette, and Tipton counties) declined by 5.6% from this same time last year.  However, the average sales price increased by 6.7%.  Supply and Demand - Fewer homes on the market tend to increase sales prices. Foreclosure Sales continue to decrease. November of last there were 233 bank sales as compared to 144 this year – a 33.6% decline. This news may not be good news for investors; however, it is good news for our housing market.  

As in most cities, some communities are stronger than others. In comparison to November of last year, the two strongest markets were Arlington and Millington. Arlington had a 28% increase in the number of homes sold and a 15.1% increase in the average sales price.  Millington also had an increase in home sales of 15.4% and an increase in the average sales price of 21.4%. Although the Collierville area saw a decline of 28% in sales, the average sales price increased by 6.9%.

For an in-depth report of Market trends for the Memphis area, click on the link below.

November 2014 Market Report

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Memphis Home Statistics for October 2014

If you are considering selling your home, now may be the perfect time.  There are fewer homes on the market which means less competition and in many areas of the city the average sales price is increasing. Foreclosure sales are down 32.3% from last year which is a good sign our Memphis area market is recovering.

The Memphis Area Association of Realtors released their Home Sales report for October.  In comparison to October of last year, the Memphis area as a whole (which includes sales in Shelby, Fayette, and Tipton counties) had a decrease in both the number of homes currently on the market and the number sold.  However, the good news is the average sales price increased.  “Pricing continues to remain solid,” said MAAR President Greg Glosson. “If you look at where the market was a year ago, it’s clear values are on the rise.”  

As in most cities, some communities were stronger than others. The Collierville market was strong showing a 2.4% increase in sales along with a 12.1% increase in the average sales price.  Bartlett sales were up by 2.1% and average sales price increased by 9.4%. Cordova sales were down 9% but values were up 6%.  In Germantown the number of homes sold and the average sales price both declined.

For an in-depth report of Market trends for Memphis area, click on the link below.

October 2014 Market Report

November Housing Trends eNewsletter

Our most current Housing Trends eNewsletter is now available. This eNewsletter is specially designed with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general. 

Please click on this link to view our Housing Trends eNewsletter 

November eNewsletter

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report: 

Home Evaluator

eNewsletter