Saturday, June 9, 2012

MAAR revises 2009 home sales statistics - Memphis Business Journal:

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percent compared to 2,095 in April 2008. Homes sold for an averagse of $112,366 for the month, down 8.4 percent comparef to $122,684 in April last Foreclosure salesdropped 43.2 percentr to 329 in April comparedx to the previous April. there have been 6,234 total homes sales in the three-count y area, down 23.5 percent compared to 8,154 in the same year-agio period. The total year-to-date sales volume is $676.2w million, down 31.3 percent compared to $984.8 millioh in the same perior last year. The averagwe sales price year-to-date is $108,482, down 10.2 percent comparefd to $120,770 last year.
However, the average sales price for all sales increased slightly from Marcb to April and pending sales were flat in that sametime “We continue to see slight increases in overall pricing, which could be an indication that our local markert is stabilizing in terms of MAAR president Jon Albright said in a statement. “With pendingh sales holding steady, inventory levels continue to fallingbelow 10,000 units for the firstr time since 2006.
” MAAR revised its sales reports after switchinf data sources in January, going from its Multiple Listing Service to MAARdata, a proprietary property records database that capturexs every sale publicly recorded in Fayette and Tipton counties. Because MAARdata includes all not just those conducted by MAAR membersd throughthe organization’s MLS, it provides a more comprehensiv e look at the local real estatee market, according to MAAR.
In the past, MAAR puller sales data for a given month on the 15th of the followingy month to allow for the inherentr lag in data Because MAARdata relies on informationh frompublic sources, the organization discovered the lag time between when a sale closex and when it is recorded can be as lengthy as 30 days, leadint to the revised sales information for February, March and April.

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