Memphis home sales, prices continue rising
Home sales and the average price of homes sold continued to climb in June, according to the Memphis Area Association of Realtors.
In June, total Multiple Listing Service sales were 1,152, up 8.5 percent from 1,062 in June 2009. June MLS home sales were 3.6 percent lower than in May, however, when 1,195 homes sold.
The average sales price in June jumped 3.9 percent to $161,000, compared to $155,000 in June 2009, and was 7.3 percent higher than the previous month of May when the average sales price was $150,000.
For the first fix months of 2010, MLS sales are up 4.2 percent — from 5,842 in 2009 to 6,089 this year — while the average price is up 5 payday loan online.9 percent to $144,000.
Data shows that the average time on the market is 108.6. The majority of sales, 38.8 percent or 447 sales, were in the $0-$99,999 price group. The second largest was $100,000-$199,999, with 390 sales, or 33.9 percent.
MAAR’s MLS database records all property transactions in Shelby, Fayette, Tipton and DeSoto counties.