January Memphis real estate residential unit sales improved by 12.3% over January, 2011, with at total of 850 properties closed, according to MLS data including sales for Shelby, Fayette, and Tipton counties, according to the Memphis Area Association of Realtors (MAAR).
For a breakdown of sales by area, download the entire January Memphis real estate sales report.
It’s good to see more activity in the Memphis market. Hopefully this will encourage some of those who have been on the sidelines for a while to at least have a closer look at what’s happening. As you will see when you view the full report, inventory is dropping, which tightens the market some. We are also noticing that median and average prices are continuing to fall. I believe that , going forward, unit sales will continue to trend upward as we continue to see prices slide until distressed properties are dealt with. Remember that real estate is hyper-local, so check the report for your area. Your piece of the market might be doing quite well.
If you are looking for a knowledgeable agent who will fully represent YOUR interests, contact me. I would love to work with you. For comprehensive area real estate search visit Spake.com.
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