sales report: Memphis Real Estate - November,2008 Sales Figures For Memphis MLS - 12/19/08 07:59 AM
The Memphis Area Association of Realtors has released the November 2008 and 2008 YTD sales figures.November had a steep decline (31.2%) from 2007 in total sales and a 22% decline in median price of sold properties from 2007. Year-to-date, total sales are down 19% - 12,643 vs. 15,609 in 2007, and median price has dropped 13.1% from $137,000 in 2007 to $119,000 in 2008. The report has break outs of sales data for areas and price ranges.I believe we will see the median price trend down as the REO (foreclosure) inventory sells at bargain prices. Foreclosures are impacting values used by … (0 comments)

sales report: Memphis Real Estate - Sales Stats for June, 2008 - 07/31/08 10:54 AM
The Memphis Area Association of REALTORS has released the housing sales statistics for June and 2008 year-to-date. There is no significant change from May. Total sales are off 19.4% YTD with the Median Sales Price down 14.3% YTD and Average Sales Price off 12.3%. Homes are staying on the market 10.6% longer than last year. Click here to download the full report.
What does this mean? The market has cooled off, even in Memphis. The laws of supply and demand are at work. Will housing prices bounce back? Probably, but it will take some time to get back to the boom … (0 comments)

sales report: Memphis Area Home Sales Report (through Feb., 2008) - 03/30/08 04:51 AM
Rather than spend a long time in Google Documents trying to make a chart, I provide a link to  To Memphis Area Home Sales Report, published by the Memphis Area Association of REALTORS for Jan. and Feb., 2008.  Volume is down 17.2% overall from last year, but some market segments are doing fairly well.  There seems to be more buyer activity out there, and the March figures should be quite interesting.
For more detailed information, or if you or someone you know is considering buying or selling a home in Memphis, please contact me. 

Joe Spake, Midtown, Downtown, East Memphis Specialist (InCity Realty) Rainmaker large

Joe Spake

Midtown, Downtown, East Memphis Specialist

Memphis, TN

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Address: 2298 Young Avenue, Memphis, TN , 38104

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