February was a greatly anticipated month after January’s shortfall. The month closed with 959 sales up 10% from 2008 and up 8% from January.
Average sales prices fell 10% to $100,844 compared to $110,170 last year.
New home sales were up 5% but the average new home sales price dropped 25% down to $208,396.
Non-Bank sales were up 18% from the prior year and Bank Sales were up 2%.
Foreclosures were down 13% from February 2008 with 425 total. Foreclosure notices were also down 3.4%
Click here to access Chandler Reports free Residential Market Trend reports.
Stay abreast of the latest in real estate with The Daily News.
Wendy Uncategorized
Foreclosures were up 22% in January from the prior year with 453 total and an average foreclosure amount of $46,089.
River Oaks (38120) had the largest increase with 7 for the month, up 600% from January 2009.
Frayser (38127) and Raleigh (38138) remain the leaders in total foreclosures, claiming 31 each for the month but both were down almost 10% from the prior year.
Foreclosure notices were down from January 2009 to 982, a 14.2% decrease. South Memphis (38126) had the largest decrease in notices, down 71%.
Fannie Mae held the largest foreclosure inventory at the close of the month with 413 properties in inventory valued at $45 million. They took on 71 new foreclosures for the month and sold 64 giving them the title of the Top Residential Seller in Shelby County for January.
Frayser (38127) has the highest foreclosures inventory, with 453, down 2% from the start of the month. The total inventory value at month end was $30.4 million.
Click here to review our latest Market Trend reports.
Read the latest article on local foreclosures from The Daily News here.
Wendy Uncategorized
We are pleased to announce that our first Master Your Market event was a huge success!!!
Attendees enjoyed the presentation of the 2009 year end data and were happy to receive copies of our year end Market Trend reports!
We’ve scheduled our next event, which will cover First Quarter 2010 trends and indicators for the remainder of the year. Please join us on Thursday, April 29th at The Germantown Athletic Club’s Great Hall located at 1801 Exeter Road. Our luncheon will run from 11:30AM-12:30PM. The cost is $20/person. Click here to register today!
Access our Market Trend reports here.
Click here to access the latest real estate article from The Daily News.
Wendy Uncategorized
What was expected to be a continued upward trend in the housing market, ended with lower than expected results.
January 2010 closed with only 885 home sales, down 14% from the prior year and down 30% from December 2009.
Average home sales prices also took a fall to $113,162, down 3% from January 2009.
The news was not all negative. Bank sales for the county are down 25% from the prior year and existing average home sales prices are up 4% to $104,226.
Frayser (38127) and Raleigh (38128) lead the way with the most sales, for the month. Bank sales made up over 60% of their total sales for January.
Foreclosure notices were down by 14% compared to January 2009 but the total number of foreclosures rose 22% with 453 total. River Oaks (38120) had the highest year over year increase in foreclosures with 7 for the month compared to only 1 the prior year.
Wendy Uncategorized
New home sales accounted for 7% of all sales in 2009, down 27% from the prior year.
There were 1,083 total home sales, valued at $263 million with an average sales price of $243,392.
Arlington (38002), Cordova (38016) and Downtown (38103) had the most new home sales for the year.
Franklin Farms in Cordova had the most new home permits in 2009 with 41 total.
Click here to read the latest news on the new housing market from The Daily News Online.
Be sure to register and attend our first Master Your Market luncheon series on Thursday, February 11th to learn more about the local commercial market, foreclosures, mortgages and more! This $20 luncheon will meet from 11:30AM-12:30PM at the Germantown Athletic Club’s Media Room. Attendees will receive a boxed lunch, a copy of our presentation and our year-end market trend reports.
Seats are limited so register today here or by contacting Wendy Greenlaw at 901-528-5273!
Wendy Uncategorized
Shelby County recorded 589 commercial sales in 2009, down 31% from 2008.
Average commercial property sales prices are down 31% as well with a total average for the year of $648,000.
Commercial property foreclosures were up 14% for the year but commercial bank sales were down 6% from 2008.
(38118) Oakhaven/Parkway Village saw the most sales with a total of 46 properties valued at $31.7 million.
The largest commercial sale for the year was 40 S Main which sold for $20 million.
Forecasters believe that the commercial market has still not leveled off. Click here to read the latest article from The Daily News.
Be sure to register and attend our first Master Your Market luncheon series on Thursday, February 11th to learn more about the local commercial market, foreclosures, mortgages and more! This $20 luncheon will meet from 11:30AM-12:30PM at the Germantown Athletic Club’s Media Room. Attendees will receive a boxed lunch, a copy of our presentation and our year-end market trend reports.
Seats are limited so register today here or by contacting Wendy Greenlaw at 901-528-5273!
Wendy Uncategorized appraiser, commerical, foreclosure, Memphis, real estate, realtor, realty, Shelby County
Starting this year, Chandler Reports will be conducting quarterly luncheons on local real estate trends.
Our first event will be held on Thursday, February 11th from 11:30am-12:30pm in the Germantown Athletic Center’s Media Room.
This $20 luncheon includes:
- Year End 2009 Market Overview for Shelby County including residential and commerical sales, foreclosures, mortgages and more!
- A catered, boxed lunch.
- A copy of our latest market trend reports.
Seats are limited so register today! Please contact Wendy Greenlaw at wendy@chandlerreports.com or call 901-528-5273.
Review Chandler Reports Year End 2009 Market Trend Reports here.
Click here to read the Year End 2009 Shelby County real estate article from The Daily News.
Wendy Uncategorized
Shelby County saw 14,598 total home sales in 2009 down 11% from 2008.
December closed with 1,262 home sales up 9% from 2008! 64% of those sales were Non-Bank Sales.
Bank Sales for December were down 17% from the prior year and down 7% for all of 2009!
For the second month in a row, Existing Home Sales were up, 7% in December and home sales values had a whopping 20% increase with an average of $120,251!
New Home Sales were up 36% in December versus December 2008 showing the largest year over year increase for 2009!
Overall New Home Sales in Shelby County were down 27% for 2009.
Residential Foreclosures were down 11% from 2008.
Click here to review all of the latest Residential Market Conditions Reports for December and Year End 2009!
Join us Thursday, February 11th for a new lunch series titled “Master Your Market: A quarterly luncheon series on Shelby County Market Trends”.
Email wendy@chandlerreports.com for details.
Wendy Uncategorized
While November 2009 sales increased 17% from 2008, foreclosures also increased by 6% with 420 but had a 45% decrease in the value of the foreclosed properties leveling out at $33,751. Frayser continues to be among the cities with the highest number of foreclosures each month, seeing 42 in November. Bartlett (38135) had the highest increase in foreclosures with 24 versus 5 in 2008.
Shelby County had 77 new home sales for November with an average sale value of $220,363. Cordova held the highest number of new home sales with 19 valued at $133,365. The Top Builder for the month was Kevin Hyneman who sold 6 new homes. Grant Homes pulled the most new home permits in November with an average value of $195,452. Arlington remains at the top of the new home permit list with 19 permits pulled for the month and an average permit amount of $371,943.
Click here to read the latest article from The Daily News on the local housing market.
View the latest Market Trend reports from Chandler Reports.
Wendy Uncategorized
Chandler Reports wishes everyone a happy and healthy holiday season!
As 2009 comes to a close, we would like to thank all of our subscribers and Appraisers that use our services and contribute their data to making our online database the best in the Memphis market!
In 2010, we will keep you posted on our new services and offerings including:
- New Radius Search Capabilities through our Custom Comp Tool
- Quarterly Market Trend Updates
- Free Training Sessions on Effectively Using Chandler Reports
We look forward to working with you in 2010!
Wendy Uncategorized
