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]