The Memphis Area Association of Realtors has released sales statistics for July. 2012 and year-to-date stats based on all publicly recorded sales in Shelby, Fayette and Tipton counties. The report also includes information on pending sales and active listings.
July showed a 7.4% increase in unit sales over July 2011, and year-to-date unit sales are up by 15.7%. While median and average prices are up significantly for July, they remain relatively flat year over year. Inventory is trending slightly upward. Download and review the full report to see sales details for neighborhoods and other relevant data.
I am feeling pretty positive about the Memphis real estate market. Even though there are significantly less buyers out there than there were 5 years ago, I am seeing more qualified and motivated buyers in my area. Price trends and the low numbers of buyers should alert sellers to the trends in pricing and value as perceived by buyers. More and more buyers are depending on the huge real estate portals like Trulia and Zillow for market and valuation information, but that computer driven data is no match for a real life, local real estate professional. Remember – all real estate is Micro-Local. If you are considering buying or selling, consult with a local agent who specializes in your neighborhood.
Here are my current listings. For details, click the image. If you have questions, please contact me directly.