Memphis Real Estate Market Report – July 2016
Home sales slipped in July. 1,585 home sales recorded for the month averaging $159,050. The number of home sales recorded was down 13% while the average sales price was up 13%. The median sales price for a home was $143,000, up 14% from last July. Year-to-date the number of home sales are up 5% and home sales revenue is up 8% from the same period in 2015. Only 8 of 33 zip codes in the county had an increase in overall activity for the month while 20 zip codes saw increases in overall sales prices. Home sales over $500,000 were up 43% from last year with 61 recorded for the month. Year-to-date home sales valued over $1 million are up 38% from the same period in 2015.
Home Sales by Municipality
|
Municipality |
No. of Sales |
Average Prices |
|
Arlington |
5% |
8% |
|
Bartlett |
-1% |
8% |
|
Collierville |
-19% |
9% |
|
Germantown |
-8% |
-3% |
|
Lakeland |
-29% |
-3% |
|
Memphis |
-12% |
18% |
|
Millington |
86% |
7% |
|
Unincorporated |
-27% |
29% |
Be sure to contact The Melissa Thompson, Your Key to Memphis Team with Crye-Leike for all of your Real Estate needs - 901-729-9526 or [email protected]
