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Home sales dip in March

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Home sales were slightly sagging in Collierville and Germantown last month and remain down on the year.

According to the Memphis Area Association of Realtors, sales were down nearly 8.6 percent in Germantown and 7.4 percent in Collierville in March.

At $306,900, Collierville’s median sales price for March was the highest in the county thanks in part to nine new home sales averaged at $439,313. New home sales were up 125 percent last month.

Germantown had the third highest median sales price country wide at $245,000.

Through three months, sales are down 17 percent in Germantown (132) and 12 percent in Collierville (231).

Shelby County sales were up nearly 4 percent, with 1,221 recorded last month.

Memphis-area home sales for March increased 4.6 percent from a year ago, with 1,352 total sales recorded in the database. Sales were up 30 percent from February, when there were 1,040 total sales. Average sales price from March-to-March was down 0.8 percent, at $148,402.

Sales are also up 8 percent in Bartlett (221) for the year and 23 percent in Millington (48).

Bartlett had the most new home sales (29) among Shelby County’s suburban cities.

Collierville’s median sales price for the year is $300,000, followed by Lakeland ($252,000), Germantown ($245,000) and Arlington ($216200).
Shelby County’s is $109,900 through three months.