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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