We are going to have continual articles pertaining to Memphis real estate and surrounding communities; such as Collierville and Germantown. Should you have any suggestions on subjects pertaining to Memphis homes for sale or related issues, please feel free to contact us.
The real estate market in Memphis, Tennessee has eased up slightly from 2005 in recent months, but not nearly to the levels that a great many other cities have. January 2005 through September of 2005, total homes sold in 2006 exceeded 2005 levels. Only October, November and December showed less homes sold then the same month in 2005, and only slightly.
During October of 2006 there were 1,400 units sold, versus 1,534 in Oct. 2005. November was down to 1,369 from 1,427 the year before and December showed the largest drop down to 1,294 homes sold from 1,488 in 2005.
- Total homes sold in 2005 were 18,881.
- In 2006 there was an increase total to 19,738
- 2005 Median home price was $136,000
- 2006 Median home price was $138,000
- 2005 Average price was $168,500
- 2006 Average price was $173,200
* "Homes" in this article relates to "units" sold; which includes Duplexes, Condos, and Single Family Dwellings.