Housing prices rise, inventory also improves
The Memphis Area Association of Realtors (MAAR) released new data on May 8.
“Pricing is up,” said MAAR President Thomas Murphree. “Inventory also took a small step up, which will give buyers a few more options moving forward.”
The Memphis Area Home Sales Report for April showed the following results for area municipalities. See the full report for year-to-date sales data and for information on other towns and cities.
Bartlett:
- Total sales for April increased 6.3% (from 79 homes in 2014 to 84 in 2015). Sales of existing homes increased 15.4% (from 65 to 75). Sales of new homes decreased 35.7% (from 14 to 9). Bank sales decreased 50% (from 10 to 5).
- The median sales price for April total sales decreased by 2.6% (from $172,000 to $167,450). For existing homes, the median sales price increased 0.6% (from $157,000 to $158,000). For new homes, the median sales price increased 20.9% (from $215,928 to $261,015). For bank sales, the median sales price for April increased 12.2% (from $103,350 to $116,000).
- The average sales price for April total sales increased 3.2% (from $174,225 to $179,806). For existing homes, the average sales price increased 4.9% (from $163,342 to $171,389). For new homes, the average sales price increased 11.2% (from $224,755 to $249,952). For bank sales, the average sales price increased 7.6% (from $114,859 to $123,620).
Lakeland:
- Total sales for April increased 3.6% (from 28 homes in 2014 to 29 in 2015). Sales of existing homes remained unchanged (27 homes in 2014 and again in 2015). Sales of new homes increased 100% (from 1 to 2). Bank sales decreased 33.3% (from 3 to 2).
- The median sales price for April increased 16.9% (from $215,000 to $251,250). For existing homes, the median sales price increased 11.9% (from $210,000 to $234,999). For new homes, no data was available on the median sales price for 2014 or 2015 at the time of the April report. For bank sales, the median sales price in 2014 was $320,000; no information for 2015 was available at the time of the April report.
- The average sales price for April increased 13.5% (from $236,878 to $268,972). For existing homes, the average sales price increased 8.3% (from $237,225 to $256,963). For new homes, the average sales price increased 89.5% (from $227,500 to $431,097). For bank sales, the average sales price decreased 45.4% (from $245,400 to $134,000).
Arlington:
- Total sales for April decreased 27.6% (from 29 homes in 2014 to 21 homes in 2015). Sales of existing homes decreased by 26.9% (from 26 to 19). Sales of new homes decreased 33.3% (from 3 to 2). Bank sales remained unchanged (1 home in 2014 and again in 2015).
- The median sales price for April decreased 2.0% (from $231,625 to 227,000). For existing homes, the median sales price decreased 5.5% (from $230,700 to $218,000). For new homes, the median sales price was $231,625 in 2014; no information for 2015 was available at the time of the April report. For bank sales, no data was available for 2014 or 2015 at the time of the April report.
- The average sales price for April decreased 0.7% (from $230,935 to $229,257). For existing homes, the average sales price decreased 3.2% (from $229,173 to $221,852). For new homes, the average sales price increased 21.7% (from $246,213 to $299,600). For bank sales, the average sales price decreased 47.5% (from $245,400 to $134,000).
Junior fishermen invited to May 16 catfish rodeo
Get out your fishing gear and your lucky fishing cap!
The Junior Fishing Rodeo at Catch ’Em Lake (along Walnut Grove, near Farm Road, at the Agricenter) is coming on Saturday with fat prizes for the best fishermen in this catfish rodeo.
The event is 7 a.m. until noon and has multiple age groups.
For details, contact the Agricenter office at (901) 757-7777 or visit agricenter.org.
Sprouts opens doors for first Lakeland buyers
The new high-end grocery store in Lakeland, Sprouts, opened its doors after a 6:50 a.m. ribbon cutting on Wednesday morning, and the city’s most eager cooks were there waiting to sample the store’s fresh produce and special deals to celebrate the day.
The store is at 9050 Highway 64, where the highway intersects with Fletcher Trace. The nearest large intersection is U.S. 64 and Interstate 40.
Lakeland winery announces its concert plans
Delta Blues Winery has announced its plans through June for all of its 7-10 p.m. Friday concerts:
- May 15: Josh & Friends
- May 22: 901 Blues Band
- May 29: Steve and Scott
- June 5: Rick Williams
- June 12: Amber McCain Band
For more information, call (901) 829-4685, visit the winery’s Facebook page or go to deltablueswinery.com.
