Foreclosures were up 3% from 2Q09. Foreclosure notices were down almost 15% for the quarter.
(38120) River Oaks in East Memphis had the highest increase in foreclosures, up 275% from 2Q09 with 15 total, an average foreclosure amount of $465,365 and an average appraisal amount of $637,233.
The average foreclosure appraisal amount has risen every year since 2003, currently up to $125,119 in 2Q10.
(38125) Southeast Shelby County received the most foreclosure notices with 233 total, but overall their notices were down 26.3% from 2Q 2009.
Frayser is the leading inventory holder with 431 properties at the end of the quarter valued at $27.9 mil.
(38018) Cordova South leads the county in foreclosure inventory value with $55 million followed by (38125) Southeast Shelby County with $51.1 million.
Fannie Mae is the leading inventory holder with 502 total properties in inventory at the end of the quarter valued at $56.4 million.
Review our Market Trend Reports here!
Click here to read the latest article from The Daily News on the local housing market.
Wendy Uncategorized appraiser, banker, foreclosure, foreclosure notices, foreclosures, lender, market, real estate, real estate agent, realtor, realtors
2Q10 was an exciting quarter for new home sales activity! New home sales accounted for 7% of all home sales.
297 total new home sales were recorded, an increase of 15% from 2Q 2009!
• 204 total permits filed, 36.9% increase from Q2 2009.
• 2Q10 was the best quarter for number of permits pulled in nearly 2 years! 270 permits were pulled in 3Q08.
• (38016) Cordova North had the most new home sales with 76 total, averaging 1,817 sq ft and $132,648.
• Top Builder by the number of new home permits was Regency Homebuilders LLC with 31 permits pulled, averaging $168,293 and 2,339 sqft.
• Top Subdivision for new home permits was Lake Las Cruces in Raleigh with 19 permits pulled averaging $82,090. The 44 contiguous lots were acquired by Habitat for Humanity in March from a Bancorpsouth foreclosure. This is Habitat’s largest development in their 27-year history.
Click here to read more about the new housing market from The Daily News Online.
Review Chandler Reports 2Q10 Residential Market Trends here!
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The total number of home sales for June was 1,570, up 22% from June 2009!
Average sales prices were up 6% from the prior year to $133,428!
2Q 2010 ended with a BANG! Home sales are up 7.1% from 2Q 2009 with 4,101 for the quarter. Average sales prices for the quarter are up 9.8% from the same quarter of the prior year to $128,394!
Year-to-date sales are up 4% since the same time in 2009 with 7,195 already closed in 2010 compared to 6,901 closed during the same time last year.
In other good news…New Homes Sales are up 15% for the quarter with 297 closed in 2Q 2010 compared to 258 closed in 2Q 2009!
70% of June’s total sales were Non-Bank sales, up 36% from June 2009!
June new home sales were up 68% from the prior year with 129 total sales!.
June foreclosures were
down a whopping 25% from June 2009 with only 399 recorded for the month!
Click here to review our
June and 2Q10 Residential Market Trend Reports!
Wendy Uncategorized appaisers, appraiser, foreclosures, home sales, Memphis, new homes, real estate, real estate agent, realtor, realtors, residential, Shelby County
43 commercial property sales were recorded for May in Shelby County, up 2% from 2009.
Average sales prices were $494,421, down 27% from the prior year.
The largest commercial property sale was the Hampton Inn located at 1280 West Poplar in Collierville. SGR LLC purchased the property from Collierville Hotels GP on May 11, 2010 for $5,050,000.
Join us Thursday, July 29th from 11:30AM-12:30PM to review 2Q10 commercial market trends and listen to guest speaker Joseph Steffner, President of Grubb & Ellis Memphis provide details on the state of Shelby County’s commercial real estate market. Cost is $20/person and includes a boxed lunch, copy of the presentation as well our updated market trend reports. Click here to register.
Read the latest article on the commercial market from The Daily News Online here.
Wendy Uncategorized appraiser, commercial, commercial property, commercial real estate, hotel, lender, local real estate, may 2010, Memphis, mortgage, realtor, Shelby County
83 new home sales were recorded in May, down 10% from May 2009.
The average new home sales price was $214,068 and the average square footage was 2,829.
Cordova North (38016) experienced the most new home sales with 24 total and an average sale value of $130,393.
Regency Homes claimed the most new home sales, 10 total for the month averaging $161,453.
Charles Morgan pulled the most new home permits in May, 9 total averaging $187,342.
Arlington (38002) was issued the most new home permits for the month, 16 total averaging $222,612.
The Lake Las Cruses subdivision in Raleigh (38128) had the most new home permits pulled in May, with 8 total and an average permit value of $86,705.
Click here to view our May Market Trend Reports.
Read the latest article on new home sales from The Daily News here.
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Shelby County had 445 foreclosures in May 2010 up 12% from the prior year.
The average foreclosure amount was $41,506 (down 13% from May 2009) and the average foreclosure appraisal amount was $128,439 (down 1%).
Foreclosure Notices were down 14.3% from May 2009 with 976 filed for the month. Germantown East (38139) had the highest increase in notices from the prior year with 8 total for the month.
The Top Foreclosure inventory holders based on the total number of properties in inventory at the end of the month were: Fannie May (495), Housing and Urban Development (334) and Deutsche Bank (236).
The Top Zip Codes for Foreclosure inventory based on the total number of bank owned properities at the end of May were: Frayser-38127 (441), Westwood-38109 (417) and Raleigh-38128 (377).
The Top Residential Seller for May was Fannie Mae with 104 total sales averaging $66,706 and a total sales amount of $6.9 million.
Click here to review our free Residential Market Trend Reports.
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Read the lastest article on foreclosures from The Daily News here.
Wendy Uncategorized appraiser, foreclosure, foreclosure notice, foreclosures, home value, local real estate, real estate agent, realtor
Please join us on Thursday, July 29th from 11:30AM-12:30PM at the Germantown Athletic Club Media Room to receive highlights on 2nd Quarter market trends for residential and commercial sales, mortgages, foreclosures and more!
Featured Guest Speakers
Joe Steffner, President, Grubb & Ellis/Memphis will provide an overview of the commercial real estate market in Shelby County.
H. McCall Wilson, Jr., President & CEO of The Bank of Fayette County will give insights on residential lending.
Each participant will receive a copy of our presentation, a boxed lunch and copies of our 2Q10 Market Trend Reports.
Click here to register today!
View our latest Market Trend Reports here.
Read the latest article on local real estate from The Daily News Online.
Wendy Uncategorized appraisers, commercial appraiser, commercial property, developers, foreclosure, foreclosures, home sales, homes, local real estate, Memphis, mobile, real estate agent, real estate agents, real estate data, real estate investors, real estate trends, realtor, residential, Shelby County
1,290 home sales were recorded in May, up 3% from May 2009 and up 4% from the prior month.
Average sales prices were up 13% from the prior year to $128,788 and up 6% from April 2010!
Year-to-date sales are virtually unchanged from 2009 with 5,628 already closed in 2010 compared to 5,610 closed during the same time last year.
61% of May’s sales were Non-Bank sales, up 11% from May 2009!
May new home sales were down 26% from the prior year and the average new home sales price dropped 5% to $229,946.
The Top Residential Seller was Fannie Mae with 104 sales totaling nearly $6.9 million.
May foreclosures were up 12% from May 2009 with 445 recorded for the month but were down 5% from April 2010.
Click here to review all of our
Residential Market Trend Reports!
- Free Informational Seminar: Wednesday, July 28th, 9:00AM-10:00AM
- “Master Your Market” Second Quarter Update: July 29th, 11:30AM-12:30PM, $20/person
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Chandler Reports has been providing premium real estate data in Memphis and Shelby County for over 40 years.
It is our goal to keep businesses and homeowners informed of local market trends and provide information about key happenings in real estate.
Available on our website, www.chandlerreports.com are a series of complimentary Residential Market Trend reports. Updated monthly and quarterly, these reports show the number of home sales, by zip code, with key information pertaining to average home sales price and average home size.
In addition to these reports, we also provide highlights of the commercial market, foreclosure trends and new housing analysis in our blog located at http://blog.chandlerreports.com. Each week, we highlight a topic that we feel is important to the local real estate community.
Chandler Reports is owned by The Daily News which provides access to over 13 million public records and publishes weekly features on Memphis and Shelby County real estate. Be sure to visit www.memphisdailynews.com and sign up to receive their free daily Email Edition. The Email Edition provides you the latest business, legal, and real estate news the afternoon before the printed paper is released.
We value your feedback! Please let us know how we can better assist you by completing our brief, online Customer Survey. Most of the enhancements we make to our database or our services come from our clients! Please click here to share your thoughts!
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There were 92 total new home sales in April, with an average sale value of $212,354.
Cordova North (38016) had the most new home sales with 24 total averaging $124,420.
Builders filed 105 new home permits in April, the highest mark since 152 in August 2008. The April total was 156 percent better than 41 permits in April 2009 and 13 percent better than 93 in March.
The Top Builders by New Home Permits were Regency Homes (19), Charles Morgan (12) and Kevin Hyneman (11). Each of these builders also claimed the most new home sales, with 7 each.
Franklin Farms (38016) and Sutton Place East (38016) were the top subdivisions for new home permits with 10 each.
The Top Zip Codes for new home permits were Cordova North (38016) with 35, Arlington (38002) with 22 and Cordova South (38018) with 15.
Click here to review our April Market Trend Reports.
Register here for our third “Master Your Market” Event taking place Thursday, July 29th from 11:30AM-12:30PM. The cost is $20/person and includes a copy of our presentation, a boxed lunch and our 2Q10 Market Trend Reports.
Click here to read the latest artilce from The Daily News on the state of the new housing market.
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