The Memphis Area Association of Realtors has released MLS sales results for July, 2011 and year-to-date.
987 Units were sold in July, a 21% increase from 2010. Average sale price and median sales price also rose. Year-to-date unit sales still lag 8% behind 2010 with a total of 6,417 units sold so far. The sales report breaks down sales by price, days on market, bedrooms/baths, and other indices.
Download the entire report here
According to the MAAR Site Brokers and agents make up a total of 3285 licensees selling real estate in the Memphis MLS area. If you multiply the number of sales by 2 (buyer side + seller side), 12,834 sides have been sold this year – a total of 3.9 sides per agent through the first 7 months of the year. Based on an average sale of $141,000 and typical commissions and broker splits, an agent would net about $3380/side (and that’s probably on the high side) sold before taxes and expenses. I am still amazed at how many licensees have stayed in the business, or at least kept their licenses active, but I think there is a thread of optimism among the professionals as we all hope to see more activity and better values in the foreseeable future.
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