Germantown homes sales fell slightly in December from a year ago and for the full 2021 year while Collierville sales rose slightly, according to data from the Memphis Area Association of Realtors.
For the month, 72 homes were sold Germantown compared to 78 in December 2020, down -7.7 percent. For the full year, home sales came in at 915 in Germantown, down by -6.4 percent from 978 in 2020.
Collierville sales were 119 in December, up from 112 in December a year ago. For the year, 1,290 sales were recorded in Collierville, up 0.2 percent from 1,288 in full year 2020.
The average sales price in both markets rose considerably above prices in 2020, both for the month of December and the full year 2021, MAAR data shows.
Maureen Fraser of John Green & Company Realtors in Collierville noted that, “everyone is wondering if 2022 will see more listings available.”
“Home inventory is expected to have a slight uptick and prices are not predicted to rise as dramatically in 2022,” she added. “Mortgage rates remain low but will increase slightly.”
In Germantown, the average home sold for $564,144 in December, up 17.4 percent for the same month in 2020. For the full year, the average sales price was $474,724, 8.8 percent higher than the average price of $436,190 a year earlier.
In Collierville, the average price of homes sold in the month of December was $548,887, increasing by 22.3 percent over the average price of $448,788 in December 2020.
Countywide, there were 22 home sales over $1 million for the month and 12 sales over $1 million recorded in December 2020.
For all of 2021, Collierville homes sold for $492,359 on average, up 13.5 percent from $433,695 in 2020, MAAR data shows.
Across the MAAR statistical area, home sales declined by 0.2 percent in December compared to a year earlier.
There were 1,809 sales in December compared to 1,813 in December 2020. For the year, sales came in at 22,263, up 13 percent from 19,698 a year ago.
The average price in 2021 of $240,584 was 12 percent higher than a year ago.
MAAR data includes sales in Shelby, Fayette and Tipton counties in Tennessee.
The number of Shelby County home sales increased 6 percent – from 5,030 in the fourth quarter of 2020 to 5,334 in the fourth quarter of 2021.
The number of home sales decreased in some areas due to low home inventory, including Collierville, Germantown and East Memphis.