Categorized | Business

Home sales rocket in November

Home sales in Collierville rocketed last month to the tune of 93 sales, more than any other suburban municipality.

According to information released Tuesday by the Memphis Area Association of Realtors, sales were up 13 percent in November. While the median sales price dipped five percent to $275,507, the price for new homes is at $343,545 for the year.

Germantown currently has the highest median sales price in the county at $325,000. To date, 967 Collierville houses have sold this year for an estimated $275,000. More than 130 new homes have sold. With 13,882 houses sold, Shelby County sales are up seven percent on the year.

Memphis-area home sales for November were down 2.9 percent from a year ago, with 1,154 total sales recorded.

“The seasonal slowdown of the market has begun, but pricing was still up from November of 2012,” said MAAR President Regina Hubbard. “And year-to-date, everything’s up across the board.”

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