Average sales price in Memphis area up 10.6% from 2012

The average sales price for the Memphis area rose to $143,395, up 10.6% from the 2012 average price of $129,640.  The total number of homes sold rose to 16159, up 6.7% from the total homes sale in the Memphis area in 2012 of 15150.

2013HomeSale

Germantown, TN saw an increase in total home sales to 859 units, compared to 710 units sold in Germantown, TN in 2012.  The average sales price remained flat at $316,403 compared to $317, 687 in 2012.  There were eight homes sold over $1,000,000 in 2013 compared to three homes sold over $1,000,000 in Germantown in 2012.  The highest price home sold in Germantown in 2013 is located off Johnson Road in The Highlands.  The recorded sold price was $1,730,000 and it was on the market for 164 days.

One of the more affordable neighborhoods in Germantown, English Meadows, has an average sales price of $183,000.  This is quite affordable compared to the average sales price in Germantown of $316,403.

To view homes for sale in Germantown just click here.

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