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New home sales up 500 percent in April

home-sales

Home sales in Germantown were up a whopping 33 percent last month, representing a market reversal from March when sales were down 24 percent.

According to the Memphis Area Association of Realtors, Germantown saw 89 sales in April, which is nearly twice the number of sales that the city experienced in March.

At $325,000, the city’s median sales price was also up and remained the third highest in the county behind Lakeland ($352,500) and Collierville ($364,950).

New home sales were up 500 percent compared to last April, with six recorded in the MAAR database. New home sales have been trending up all year in Germantown and the median sales price is now $791,623 on the year.

Germantown started the year off strong and has seen only one down month in 2018. To date, 241 sales have been recorded.

Other City News:

• Memphis Light Gas and Water will close Allenby Road from Farmington Road to Westfair Circle for construction projects that will begin May 29 through the end of August.

The closure is necessary for cast iron replacement and system improvement. Motorists are advised to avoid the area as there will be traffic interruptions.

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