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.
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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.
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Read the lastest article on foreclosures from The Daily News here.
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.
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.
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