What’s the latest word from our Memphis market?
We’ll get to that, but first, we have an exciting announcement to make. We’ve helped 118 families buy and sell homes this year, but as you know, we’ve been asking people to vote for one of two local charities—Hope Works and Youth Villages—to win our 100th home sale giveaway and receive the majority of the proceeds from that sale.
The voters have spoken, and the 1st place winner of our 100th home sale giveaway is…
We were glad to be able to drop off our check to this wonderful organization and learn more about their ministry in the process. We were also happy to deliver Youth Villages their 2nd place check and learn more about them as well.
Now, let’s look at the latest numbers from our market and how they compare with where we were this time last year.
The number of units for sale is up 14% compared to July 2016. For the first seven months of the year, they were up 9% compared to last year. The average home sale price is up 3%. Interest rates are rumored to be going up again in the future, but we haven’t seen anything yet. Overall, the market is still good.
If you have any questions about our Memphis market or you’re thinking of buying or selling a home soon, feel free to get in touch with us. We’d love to help you!