According to MLS sales numbers released by the Memphis Area Association of REALTORS®, May, 2010 home sales are up 16.4% from 2009 (1,195 vs. 1027) units.  Well, duh. Can you say Home Buyer Tax Credits? Although Congress is trying to extend the closing deadline of June 30 for buyers who completed their contracts by April 30, 2010 to be eligible for the credit, the extension is currently stalled.  I will really go out on a limb here and predict that year over year sales will also be significantly higher for June. Year to date sales are only up 2.9%. Remember 2009? It was a pretty dismal year for real estate. When all the tax credit folks get closed, we are going to see an un-skewing of sales figures that will shock you. But, for those who have followed the market, what is shocking is that 5 years ago in May 2005, there were 1,589 sales.
Median Prices continue to rise, as I explained in the last market report.
Also, I thought this chart was interesting:
75% of sales last month were under $200,000, and only 4.4% above $400,000.
As I always mention, these are MAAR’s MLS sales numbers.  The official May Stats will be available July 15.
Download full June MLS Sales Report Here
I find that I am doing more and more consulting on real estate issues lately. If you are a homeowner, buyer or seller and have questions about the market, sales or buying strategies.
- Image by joespake via Flickr
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What do you think? Leave your comments.