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Home sales strong in new year

Collierville was one of two Shelby County municipalities that saw an increase in home sales in January. According to the Memphis Area Association of Realtors, 69 houses were sold last month, nearly a 10-percent jump from the previous year.

Millington was the only other city to see an increase in January. Collierville’s median sales price remained the highest in Shelby County at $298,500. The town also had as many new home sales (15) as Bartlett, Germantown, Arlington and Lakeland combined.

The average price of a new home was $370,097. Memphis-area home sales for January were down nearly 15 percent from a year ago, with 1,083 total sales in the records database.

“Pricing was up more than 10 percent from last January,” said Greg Glosson, MAAR president. “Sales were down a little, but that has been the case all across the country because of inclement weather.”

Shelby County sales were down 14 percent, with 1,021 sales last month for $94,900. Sales in Bartlett and Germantown were down 32 and 34 percent, respectively. Millington sales were up 13 percent. Collierville ended 2013 with 66 sales in December, the most among the suburban Shelby County municipalities.

For more information, go to maar.org.

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