Memphis homes sales for February rose 4.4%



Memphis-area home sales rose 4.4 percent in February compared to a year ago, with 987 total sales recorded by the Memphis Area Association of Realtors.

But sales fell 8.9 percent from January, when 1,083 total sales were made.

The average sales price year-over-year rose 6.8 percent to $126,664.

Inventory stayed flat, with 5,839 units listed for sale.

The year-to-date sales volume — total amount of sales in dollars — increased 2 percent to $277.9 million.

“To be up more than 4 percent in sales for the month, with the tough weather we have had, isn’t bad at all,” Memphis Area Association of Realtors president Greg Glosson said. “We’re ahead on sales volume for the year, so we’ll take that heading into spring.”