November Market Report

MEMPHIS, TN – December 12, 2012 – (RealEstateRama) — Memphis-area home sales for November increased 8.5 percent from a year ago, with 1,180 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales decreased 13.9 percent from October. Average sales price year-over-year was up 6.2 percent at $128,339. Inventory declined 4.4 percent, with 6,805 units listed for sale. Sales volume YTD increased 19.3 percent to $1.79 billion.