Home sales up 53 percent in Nov.
By Graham Sweeney
Bartlett home sales increased last month more than nearly every other municipality in Shelby County.
According to data released Monday by the Memphis Area Association of Realtors, Bartlett experienced a 53-percent spike in home sales for November. Seventy five houses were sold last month, 26 more than the same period last year.
While new home sales were also up 100 percent in November, the city’s median sales price fell 8 percent to $143,000.
With 783 homes sold so far in 2012, year-to-date sales in Bartlett are up 30 percent.
Millington was the only Shelby city to best Bartlett’s improvement. With 16 sales in November, the city saw a 300-percent increase compared to last year.
Memphis-area home sales for November increased 8.5 percent from a year ago, with 1,180 total sales recorded. Total sales decreased 13.9 percent from October.
Average sales price year-over-year was up 6.2 percent at $128,339.
Inventory declined 4.4 percent, with 6,805 units listed for sale. Sales volume year-to-date increased 19.3 percent to $1.79 billion.
“The median and average sales prices rose substantially from last November to this November,” said MAAR President Carol Lott. “And with year-to-date sales volume up 19 percent, it’s a really positive report.”
While several of its municipalities experienced a decline in sales for November, overall sales in Shelby County were up 8 percent for the month.
Sales in Germantown and Arlington were down 11 and 48 percent, respectively.
Sales were up 26 percent in Collierville.