Sales stats firm for Memphis Area
The Memphis Area Association of Realtors has posted monthly sales stats for June and year-to-date, 2015, based on recorded deeds in Shelby, Fayette and Tipton Counties. Total sales have edged higher Y-T-D over 2014, and there is a significant rise in median price, as well as average price.
Click HERE for full report.
Sales in my neighborhoods of concentration, Midtown, Downtown, and East Memphis remain solid, with Downtown leading in unit sales increase, and East Memphis topping median sales price for the 3 areas (highlighted). Also new home and bank sales are tracked for all neighborhoods. I have chosen this niche market because I feel the areas are solid for the long run; also with this more compact concentration, I feel that I can stay an expert on the markets I work. You can check the stats in your neighborhood by clicking HERE for the full report.
As I have mentioned in the past, low inventory plays a large part in the numbers. Prices are rising due to increasing demand and lower inventory, and lack of inventory is probably keeping lots of potential buyers in rentals. Interest rates are still quite good. It’s a good time to be on the market if you are a seller. I think the buyers are out there. I am getting lots of calls. If you have any questions about Midtown, Downtown, or East Memphis homes, if you are thinking about selling your home and would like some free professional advice, or just some general real estate information, please give me a call 901-214-5563 or email.
Check with Katy Spake for all your home mortgage needs.