Memphis Real Estate Sales Report for October, 2008

I guess better late than ever, as sluggish figures lead to sluggish response. The Memphis Area Association of REALTORS’ Home Sales report for October 2008 and YTD has been out for a while, and I anticipate the November numbers to be out before Christmas.
The downward trend continues in number of home sales (-18.6% YTD from 2007) and the median price (-13% YTD from 2007). Total number of listings is down significantly at 11,343.
Interesting stats in the area details : Sales are way down in the ‘burbs, Bartlett, Germantown, Arlington, and Collierville, but median sales prices are holding their own with only single digit decreases.
This is a comprehensive report that should be of interest to homeowners as well as active buyers.
Good news for the over $1M market, as the Spake Index for October =51, a five month drop in inventory since September.
Download and read the entire report

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About 

Joe Spake is a Memphis-based Real Estate Broker and Consultant. He blogs at Joe Spake's Weblog and Memphis Real Estate Buzz. Joe's Social Network.

  • donald

    I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

    Betty

    http://www.my-foreclosures.info

  • donald

    I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.Bettyhttp://www.my-foreclosures.info

  • donald

    I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.Bettyhttp://www.my-foreclosures.info