March 2012 Market Report

March 2012 Market Report

MEMPHIS, Tenn., April, 6, 2012 – Memphis-area home sales for March rose 19.8 percent from a year ago, with 1,281 total sales recorded in the Memphis Area Association of REALTORS MAARdata property records database. Total sales jumped 29.1 percent from February. Average sales price year-over-year was down 7.7 percent at $113,156. Inventory was flat, at 6,897 units listed for sale. Sales volume YTD increased 12 percent to $354.3 million.

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