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Memphis & Shelby County 2014 New Housing Recap

January 22nd, 2015 Comments off

New housing activity slowed significantly in 2014 compared to the prior year.

There were 850 new home permits filed averaging $252,967 down 9.4% from 930 filed in 2013. New home sales were down 10.7% with 839 closed for the year compared to 929 last year.

At the end of 3Q 2014 there were 858 homes in new housing inventory, equaling 5.8 months of new housing supply.

Regency Home Builders continues to dominate the new housing market and was the Top Ranking Builder by new home sales with 202 sales and by new home permits with 213 filed.

Year-End 2014 New Housing Market Trends Now Available here.

  • New Home Sales-Top 25 Subdivisions
  • New Home Sales-By Zip Code
  • New Home Sales-Ranked by Top 10 Builders
  • Permits-Ranked by Top 10 Builders
  • Permits-Top 25 Subdivisions
  • Permits-Top 25 Zip Codes

Not a subscriber? Contact us for details.


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Memphis & Shelby County 2014 Year-End Home Sales

January 12th, 2015 Comments off

2014 home sales totals for Memphis and Shelby County were down slightly from 2013 with 15,700 recorded for the year compared to 15,894 recorded last year. The major decline in bank sales (down 26%) resulted in total home sales having a slight decrease of 1% from 2013.

Average sales prices continue to improve and were up 5% to $145,028 compared to $138,115 in 2013 resulting in a 4% increase in total sales volume from last year with $2.3B recorded for the year compared to $2.2B recorded in 2013.

12 out of 33 zip codes in the county had an increase in overall sales activity and 79% of zip codes saw an increase in average sales prices.

The median sales price was $107,050, up 9% from $98,000 in 2013.

Click here to download our annual “Residential Sales by Zip Code” report for a complete analysis of home sales activity by zip code.


Memphis & Shelby County- 3rd Quarter New Housing Analysis

November 19th, 2014 Comments off

New home sales were up 6% in the 3rd quarter of this year with 235 recorded compared to 222 recorded in the third quarter of 2013.

New home permits were up 2% from last year with 212 filed compared to 207 filed last year.

Current unsold inventory is 858 homes or 5.8 months of supply, down 5% from 3Q13.

Top Builders-New Home Sales

Regency Homebuilders

Grant Homes

Kemmons Wilson

Top Builders-New Home Permits

Regency Homebuilders

Magnolia Homes

Grant Homes

Top Subdivisions-New Home Sales

Fountain Brook in 38016

Schilling Farms in 38017

Kensington in 38002

Top Subdivisions-New Home Permits

Fountain Brook in 38016

Enclave PD in 38139

Windsor Park in 38133

Click here to download all of our 3rd Quarter New Housing Analysis reports for Shelby County or download our exclusive New Housing Analysis & Charts report to monitor all building activity for the most active zip codes.

       New Housing Inventory Analysis & Charts - Shelby County




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Memphis & Shelby County 3rd Qtr CRE Review

October 31st, 2014 Comments off

Commercial sales were up 17% in the third quarter of 2014 with 224 sales recorded compared to 191 recorded in the third quarter of 2013.

Total revenue was up 126% with the quarter ending with $312M in revenue compared to $137M in 2Q13.

Through September of this year commercial sales are up 13% from the same period last year.

The average sales price of a commercial property was $1.4M, up 94% from an average sales price of $720K in the third quarter of last year.

Property types with the most sales in 3Q14 were Land Sales with 53 sales, Retail properties with 43 sales and Multi-Family with 37 total sales.

Multi-Family properties had the most improvement from last year with 32 total sales, up 106% from the 18 recorded in 3Q13.

Vacant land over 1 acre (43), Apartments (32) and Warehouses (28) had the most sales by building type.

Commercial foreclosures were down 32% from last year with 15 recorded for the quarter compared to 22 recorded last year.

Download our complete collection of commercial market trends reports for Memphis and Shelby County at:

Commercial Market Conditions - Shelby County

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Did You Know You Can Appeal Your 2014 Property Tax Appraisal Value?

May 8th, 2014 Comments off

Memphis and Shelby County homeowners can appeal their property tax appraisal values each year by filing an appeal with the Board of Equalization.

Have home values decreased in your area? Do you know the current fair market value of your home? Are foreclosures and bank sales effecting your property values?

With our 2014 Tax Appeal Kit homeowners are armed with comprehensive reports in easy-to-ready formats to easily determine if their home’s appraisal value is too high.

For just $49 homeowners receive the following reports:

  • Comparable Sales: A mapped report showing recent sales activity over the past 2 years that most closely matches the subject property.
  • Neighborhood Profile Report: An overview of all sales and foreclosure activity with market trends for the past 4 years.
  • Foreclosure Effect Report: Shows the total potential effect of foreclosures within a 1/4 mile of the property on appraisal values.
  • Instructions for Appealing: Step-by-step instructions for using the reports and for filing an appeal.
  • Tips & Tricks for a Successful Appeal

Visit or call (901) 458-6419 to learn more. The deadline to appeal is July 31, 2014.



Memphis & Shelby County New Housing Inventory Lowest Since 2011

April 29th, 2014 Comments off

New housing was off to a slow start for the first quarter of the year. New home permits and new home sales were both down while dwindling new housing inventory and the decreasing availability of lots is causing new home sales prices to increase.

Builders pulled 189 new home permits compared to 233 in the first quarter of 2013, a decrease of 19%. New home sales were down slightly for the quarter with 181 new home sales recorded compared to 184 in Q1 2013.

Based on the total number of new home closings in the past 12 months, the 812 homes currently in unsold inventory account for 10.6 months of supply. The last time that inventory levels were this low was in the 4th quarter of 2011.

Click here to download our Q1 2014 New Housing Analysis & Charts for a summary of new housing activity by the most active zip codes. Review new housing data by subdivision including: platted lots, vacant lots, houses in inventory, 1st quarter starts, 1st quarter closings and average sales price.


New Housing Inventory Analysis & Charts - Shelby County


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Memphis & Shelby County Commercial Sales up 14% in 1st Quarter

April 24th, 2014 Comments off

There were 223 commercial property sales recorded in the first quarter of 2014 compared to 196 in the first quarter of 2013, a 14% increase in total sales volume. Average sales prices were up 13% to $1.5 million compared to $1.3 million in Q1 2013.

Multi-family properties had the largest increase in sales activity with 33 recorded for the quarter, up 83% from last year. Apartments made up most of these sales with 30 recorded averaging $2.9 million per transaction.

Retail, Office and Land sales all showed improvements over last year while Industrial, Entertainment and the sales of Churches & Schools were down.

Vacant land over 1 acre had 42 sales claiming the most sales for the quarter followed by neighborhood single tenant commercial properties with 34 sales, apartments with 30 sales and warehouses with 27 sales.

Midtown’s 38104 recorded the most commercial sales for the quarter with 19 total averaging $805,000.

The largest commercial transaction recorded for the quarter was the sale of  Miller Creek of Germantown apartments located in Southeast Shelby County. The 330-unit complex sold for $44 million on January 21st. Click here for a full report of the transaction from The Daily News.

Download our complete collection of commercial market trends for the 1st Quarter including:

  • Commercial Foreclosures by Zip Code
  • Commercial Sales by Property Groups (Office, Retail, Industrial, etc.)
  • Commercial Sales by Property Type (Apartment, Warehouse, Church, etc.)
  • Commercial Sales by Zip Code – Bank vs. Non-Bank
  • Commercial Sales by Property Type – Bank vs. Non-Bank

Commercial Market Conditions - Shelby County



Memphis & Shelby County November Foreclosure Analysis

December 10th, 2013 Comments off

Residential foreclosures were down 18% in November with 225 recorded compared to 274 recorded last year.  

The average amount of a foreclosed property was $82,829 and the average tax appraisal value was $112,519, both down from November 2012.  

Year-to-date foreclosures are down 14% from the same period last year. The decline in foreclosure activity has impacted bank sales which are down 21% YTD compared to the same period in 2012.

November foreclosure activity was down for every municipality except for Bartlett which had a slight increase. Foreclosures in the city of Memphis were down 23% from last November.  

Foreclosure notices were down 25% for the month with 437 recorded compared to 575 recorded in November 2012.  

Westwood (38109) had the most properties in foreclosure inventory at the end of the month with 227 homes valued at $11.2 million.  

Southeast Shelby County (38125) had the most foreclosure inventory revenue with $21 million followed closely by Cordova North (38016) with $20 million. 

Fannie Mae owned the most foreclosed properties with 350 total valued at $42 million.  

Click here to download our Detailed Foreclosure Analysis reports.

Residential Foreclosure Analysis - Shelby County

3rd Quarter New Housing Update for Memphis & Shelby County

November 20th, 2013 Comments off

Despite a strong first half of the year, Shelby County’s new housing market appears to have hit a bump in the road in the 3rd quarter of the year with new home sales falling by 17%. During 2013’s third quarter the market saw just 197 new home sales compared to 2012’s third quarter with 238 new home sales. With the drop in sales and with builders continuing to try to balance unsold inventory1 levels, the market also saw a 14% drop in new home starts for the quarter with 199 new home starts in this year’s third quarter compared to 231 in last year’s third quarter. On a positive note, new home sales prices continue to outpace last year’s prices with 2013’s third quarter price of $267,400 being up 5% from 2012’s third quarter price of $253,882. Unsold inventory levels have remained relatively steady through out the year with the 3rd quarter being no exception. There were 883 houses in inventory as of 9/30/2013, compared to 882 houses as of 9/30/2012. The current unsold inventory accounts for 3.3 quarters, or 11.1 months, supply2 of new housing. At the end of last year’s third quarter, there were 4.5 quarters, or 11.7 months, supply of new housing. Regency Homes continues to be Shelby County’s top builder with 50 new home starts and 56 new home sales during this year’s third quarter. 

Click here to download our complete 3rd Quarter analysis of new housing data for the most active zip codes in Memphis & Shelby County including new housing charts with trends for the past 10 years.

New Housing Inventory Analysis & Charts - Shelby County


2013 Commercial Real Estate Review: Seminar Recap

November 14th, 2013 Comments off

Commercial Real Estate Market Reawakens

Article by: Amos Maki, The Daily News

After suffering through a prolonged slump, the Memphis commercial real estate market this year began to shake off the rust that gathered during the “Great Recession,” and brighter days could be ahead for the prime markets in the apartment, retail, office and industrial sectors, according to local experts.

However, to make sure the commercial real estate market continues its rebound, civic and business leaders must maintain a laser focus on job creation.

Those themes emerged during the 2013 Commercial Real Estate Review & Forecast hosted by The Daily News on Thursday, Nov. 7, at the Memphis Brooks Museum of Art.

Click here to read the full article from The Daily News.

You may review the presentations delivered by speakers Wyatt Aiken, Brad Kornegay, Blake Pera and Jason Polley by clicking the links below:

Office Real Estate  – Wyatt Aiken, Commercial Advisors 

Industrial Real Estate – Brad Kornegay, Colliers International

Multifamily Real Estate – Blake Pera, CB Richard Ellis

Retail Real Estate– Jason Polley, Stonecrest Investments