The numbers for March,2008 and the first quarter are in from The Memphis Area Association of REALTORS (MAAR). Number of sales was off (22.3%) from last year with the Median sale price dropping from $132,000 to $120,000 (-9.1%). March 2008 home sales contributed more than $172 million to the Memphis-area economy.
Historical home sales statistics are located at www.maar.org/media.
“Pending sales remained at the increased levels we saw last month, indicating continued strong market activity,” said MAAR President John Snyder.
If you love statistics, like I do, or if you want to see how your community fared, you will want to check out the full report at:
https://spake.com/memphishomesales.htm (click the March link).
Realtor at InCity Realty
Joe Spake is a Real Estate Broker and Consultant, specializing in Midtown, Downtown, and East Memphis residential properties. His interests include architecture, community activism, music, photography and cooking. Get more great real estate information on Joe's Facebook Page. Call 901-870-3440 or Email Joe@spake.com
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Good article – all very informative on Memphis. Real estate in 2008 will surely become a DISASTER with the loss of most mortgage loan financing and NO MORE $0 Down loans. A smart Realtor must maximize their opportunity to convert MORE prospects into buyers by offering to HELP them get their bad or damaged credit scores fixed. Please feel free to send all your agents to my genuine Credit Repair Program article at: http://www.jeffboyce.net/credit-repair-and-how-to-fix-bad-credit.html. I’d be glad to help you sell more homes, by getting your unqualified buyers a real nice 30 year fixed loan.