August Market Report

MEMPHIS, TN – September 10, 2012 – (RealEstateRama) — Memphis-area home sales for August jumped 14.2 percent from a year ago, with 1,514 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales increased 9.3 percent from July. Average sales price year-over-year was up 1.5 percent at $128,472. Inventory declined 1.2 percent, with 7,522 units listed for sale. Sales volume YTD increased 18.2 percent to $1.3 billion.