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‘Tough’ weather results in home sales dip

Collierville was one of three Shelby County municipalities to experience a dip in home sales last month.

According to data from the Memphis Area Association of Realtors, 54 Collierville houses were sold in February for a median sales price of $303,750, the highest in the county.

The town saw a 5-percent drop in sales compared to the same time last year. Ten new homes sold in Collierville last month.

The town last saw a drop in sales in December.

With 69 sales in January, numbers were up nearly 10 percent to begin the year. Arlington and Lakeland were the other two towns that experienced a slide in sales last month. Memphis-area home sales for February rose 4.4 percent from a year ago, with 987 total sales recorded in the property records database.

Sales declined 8.9 percent from January, when there were 1,083 total sales. Average sales price year-over-year increased 6.8 percent to $126,664.

“To be up more than four percent in sales for the month, with the tough weather we have had, isn’t bad at all,” said MAAR President Greg Glosson. “We’re ahead on sales volume for the year. So, we’ll take that heading into spring.”

Bartlett home sales jumped 42 percent last month, the largest improvement among Shelby County municipalities. With 74 sales in February, Bartlett also boasted more home sales than any other Shelby municipality not named Memphis.

homesalesGermantown saw a 13-percent spike in sales and a 5-percent increase in median sales price ($222,000).

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