June Market Report

MEMPHIS, Tenn. – July 4, 2012 – (RealEstateRama) — Memphis-area home sales for June decreased 2.4 percent from a year ago, with 1,277 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales dropped 11.4 percent from May. Average sales price year-over-year was up 9.4 percent at $146,198. Inventory was up 2.2 percent, with 7,529 units listed for sale. Sales volume YTD increased 16.6 percent to $873.1 million