Archive

Archive for January, 2011

2010 Commercial Market Trends

January 21st, 2011 Comments off

The commercial market had a major upturn in the last quarter of the year producing better than expected year-end results!

2010 closed with 655 commercial sales up 8% from 2009. Average sales prices for commercial properties were up 34% to $848,803!

The largest commercial transaction for the year was the sale of the Crescent Center on July 27, 2010 for $50.3 million.

Automotive, Entertainment and Industrial properties had the best year-to-date performance, all saw increases of 30% or more from the prior year.

Commercial foreclosures were down 9% from 2009 with 135 recorded. Unfortunately the average foreclosure amount was up 8% to $1.2 million.

Commercial mortgages were up 1% for the year with 275 recorded and an average mortgage amount of $1.5 million, 136% higher than 2009.

To review all of our year-end market trends, please join us Wednesday, January 26th from 3:30pm-6:00pm at the Germantown Great Hall’s Media Room for our “Master Your Market” seminar featuring David Lenoir, Shelby County Trustee. David will provide an overview of the Shelby County economy including existing issues with foreclosures and delinquencies. Click here to register today! Seating is limited.

The Daily News is hosting a Commercial Real Estate Seminar on Thursday, February 17th at the Brooks Museum Auditorium from 3:30pm-5:00pm. They will take a look at the state of the commercial real estate industry and discuss important issues and what the future holds. Click here to register for their event!

Review all of our 2010 Real Estate Market Trend Reports here.

2010 New Housing Analysis

January 13th, 2011 Comments off
New home sales accounted for 8% of all home sales in Shelby County in 2010.
992 total new home sales were recorded, a decrease of 9% from 2009. 
 
685 new home permits were filed, a 14% increase from the 589 filed in 2009.
 
Arlington (38002) had the most new home sales with 226 total, averaging 2,879 sqft and $247,421.
The Top Builder for the year by the total number of new home permits filed was Regency Homebuilders LLC with 121 permits filed, averaging $168,390 and 2,377 sqft.

 

The Top Subdivision for new home permits was Franklin Farms in Cordova North (38016) with 60 permits filed averaging $152,992.

 

Click here to read more about the new housing market from The Daily News Online.

 

Review all of Chandler Reports Year End 2010 Residential Market Trend Reports here!

 

Attend our Master Your Market Event on January 20th from 3:30PM-6:00PM to review all residential sales activity including residential and commercial sales, foreclosures, mortgages and more! Click here for more details and to register!

Year-End 2010 Home Sales Report

January 6th, 2011 Comments off

Happy New Year!

 

We wish everyone a happy, healthy and successful 2011!

 

As we look back on 2010, there were many highs and lows in the residential real estate market.

 

The homebuyer’s tax incentives boosted sales in the spring and early summer but home sales waned in the last quarter of the year, down 24% in December alone.

 

The foreclosure moratorium in the fall reduced foreclosures to historic lows throughout the last quarter of the year. 

 

Overall home sales for 2010 were down 8% from 2009 with 13,358 total sales recorded for the year.

 

On a positive note, average home sales were up 1% from 2009 to $124,278! 

 

Existing home sales prices were also up 2% from the prior year to $116,335!

 

Bank sales were down 19% from 2009 and average bank sales prices were up 1%.

 

The new housing market took a hit down 9% from 2009 with 992 new home sales recorded. They were down 42% in the fourth quarter of the year.

 

Average sales prices on new homes were down 27% from the prior year to $223,429.

 

Foreclosures were down 11% for the year with 4,984 recorded. The average foreclosure amount was up 3% from the prior year to $125,239, and foreclosure notices were down 21% from 2009. 

 

Join us Thursday, January 20th from 3:30pm-6:00pm at The Germantown Great Hall’s Media Room for our “Master Your Market”: Year-in Review.

 

We will review the highlights of residential and commercial sales, foreclosures, mortgages and more!

 

Guest speakers will discuss the foreclosure crisis, residential lending issues and economic development plans for the City of Memphis and Shelby County.

 

After the presentation, join us for cocktails and an opportunity to network with our guest speakers and your peers!

 

Attendees walk away with a copy of our presentation and our year-end market trend reports!

 

Register today! Seating is limited.

 

Review all of our Shelby County Market Trend reports here.

 

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

 

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