An almost seven percent increase in year-to-date median sales prices highlights Bartlett’s real estate success.
The city has sold 617 homes this year for a median price of $171,000.
Last year, it sold 567 units for a median price of $160,000, according to the Memphis Area Association of Realtors (MAAR).
The suburb’s July numbers resemble those of the YTD. The median sales price in July 2015 was $170,000, while in July 2014 it was $168,000, marking a bit more than a 1 percent change.
Although there wasn’t a significant change in Bartlett’s June sales prices, its May prices did increase as well, giving Bartlett a three-month trend on which to build.
The Shelby County median YTD sales price increased 7.8 percent from $115,000 to $124,000.
However, the county’s total sales from July dropped 2.7 percentage points since last year, from $133,600 to $130,000.
Nearby Germantown and Collierville didn’t do so well. Both saw dips in YTD sales (2.5 percent and a shade over 3percent, respectively) and marginal increases in monthly sales (not quite half a percentage point and a fraction of a percentage point, respectively).
Luckily, those two communities represented outliers in the general Memphis area trends. Bartlett kept up with the rest of the area, which boasted mostly positive percentages.
“There was a significant jump in sales from last July to this July,” said MAAR President Thomas Murphree. “Year-to-date sales volume continues to climb.”
Written by Mac Trammel. Contact him at email@example.com.