July Market Report

MEMPHIS, TN – August 7, 2012 – (RealEstateRama) — Memphis-area home sales for July rose 7.4 percent from a year ago, with 1,385 total sales recorded in the Memphis Area Association of REALTORS^® MAARdata property records database. Total sales increased 8.5 percent from June. Average sales price year-over-year was up 14.1 percent at $147,373. Inventory was up 1.1 percent, with 7,615 units listed for sale. Sales volume YTD increased 20 percent to $1.1 billion.