A total of 58 commercial sales were closed in July, up 14% from June and up 2% from July 2008.
Commercial property sales totalled $24,923,754 with an average sales price of $429,720.
The average price per square foot was up 66% from June to $40.16.
No commercial Bank Sales were closed in July, compared to 4 in June.
Click here to view Chandler Reports’ Quarterly Commercial Market Conditions Reports.
Foreclosures were up slightly in July 2009 with 552 total compared to 543 in June.
The area with the highest incidences was Raleigh-38128 up 29% from June with a total of 52 foreclosures in July and an average tax appraisal value of $80,517.
The total number of foreclosure notices issued in Shelby County was fairly consistent with June seeing only a 1% increase, Frayser being issued the most notices (102).
The ZIP Codes with the highest inventory of foreclosed properties include: Frayser (38127), Westwood (38109), Raleigh (38128) and West Person/Elvis Presley (38106) with a combined total of 1,561 properties valued at over $89 million.
Fannie Mae had the most foreclosure inventory at the close of July with 383 properties valued at almost $40 million.
Click here to review all of the Market Trend Reports from Chandler Reports. Contact wendy@chandlerreports.com to receive monthly Foreclosure Analysis Data.
Read the latest article on foreclosures from The Daily News.
Shelby County saw 1,477 home sales for July, up 15% from June.
Average sales prices were also up 5%, to $131,839 from the prior month.
New home sales were up 1% (69) with the average new home sales price up 2% to $248, 244.
The average sales price for Bank Sales rose 6% for the month topping out at $64,728.
Click here to view all of the July Market Trend Reports.
