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Home sales rocket in May

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After a rocky first few months of the year home sales are sailing in Collierville now.

Sales were up a whopping 32 percent last month, the highest leap in the county.

According to the Memphis Area Association of Realtors, 125 sales were recorded in May for a median sales price of $325,000, also the highest in the county by at least $20,000.

Collierville also had 10 new houses sell for an average of $453,682.

The town bucked a local trend that saw nearly every other Shelby County municipality down in sales for the month, including Bartlett and Germantown.

With 83 sales recorded, Germantown was down 6 percent in May. Bartlett was down 5 percent.

Germantown’s median sales price of $300,000 was the second highest in the area, with Lakeland ($250,000) and Arlington ($219,900) in third and fourth, respectively.

Year-to-date sales are up 3 percent in Collierville compared to 2016, with 421 already recorded through the first five months.

Sales were slightly up to start the year but fell 15 percent in February and 22 percent in April.

Forty one new home sales have been recorded so far this year in Collierville, more than any other suburban area except Cordova (63) and Bartlett (60).

Sales in Shelby County are up 9 percent through five months, with 6,644 recorded.

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