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Archive for April, 2011

First Quarter New Housing Analysis

April 29th, 2011 Comments off

 

New home sales accounted for 6% of all home sales in Shelby County with 168 recorded for the first quarter of the year. Average new home prices were up 8% from 1Q10 to $228,443.

Unsold inventory levels have continued to decrease with 1,036 remaining at the end of the first quarter. New home starts were down 30% for the quarter with 145 new home starts, compared to 205 in 1Q10.

38125 (Southeast Shelby County) and 38016 (Cordova-North) tied for the most home sales with 32 each. Oaklawn Estates in 38016 and Gerland Creek in 38125 each had 9 new home sales, the most of all subdivisions in the county.

Regency Homes was the top builder throughout 2010 and remained the top builder in the first quarter of the year with 34 new home starts and 27 new home sales averaging $178,347. They also pulled the most new home permits for the quarter, 34 total with an average permit value of $194,623.

Click here to review all of our First Quarter 2011 Market Trend reports for Shelby, Fayette, Tipton, Williamson, Davidson and Wilson Counties.

Click here to read the latest on new housing activity from The Daily News.

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New Features and Tools Available!

April 22nd, 2011 Comments off
Chandler Reports is excited to announce many new changes to our Shelby County residential service!
  
These new tools provide you easier access to our most commonly used reports in addition to new features and reports that provide you the ability to customize comparables the way that you want to view them!
  
On the upper left-hand side of our Detailed Property Profile report we have provided menus with simplified access to our automatic and compressed comparable reports, GIS map, tax map, MapQuest map, Assessor Information, Foreclosure Effect Report, Market Trend Reports and a snapshot of public records available for the property from The Daily News Online. If you are a Daily News Online subscriber, you can click the “Learn More” link to view the public records. If you are not a subscriber and would like information on The Daily News Online, please contact us.
  
At the bottom of the Detailed Property Profile report, under the Assessor and Property Tax information you will see links that direct you to the City and/or County tax collection sites. This allows you to automatically research tax payments for properties.
  
The following “Report Tools” are now available on the left-hand side of our Compressed and Detailed Comparable reports.
   
  • Remove Bank Sales: With a click of this button, bank sales are removed from the comparable report and the minimum, maximum and average prices at the bottom of the report are updated.  
  • Show Bank Sales Only: This allows you to view only the comparable banks sales with updated min/max/avg prices. 
  • Search by Radius: Enter your desired radius in the “Radius Miles” box and then click the “Search by Radius” button to see all comparable sales within the radius you’ve entered.
Under the “Additional Reports” heading you now have the ability to see all foreclosure activity surrounding the subject property. When you click the “View Area Foreclosures” button a new window opens displaying all recorded foreclosures located near your subject property over the past year. In the remarks section you can review the amount of the foreclosure labeled as F:######.  
  
You can now “Filter Sales” on our comparable reports to view sales for a specific timeframe including the last 6 months, the last 12 months or the last 18 months. By clicking the button of your choice, you have the ability to only see sales for that timeframe with updated min/max/avgs at the bottom of the report.  
  
Please note: These new features work individually and do not allow you the ability to use multiple options to narrow down the search results. For example, if you opt to remove bank sales from your report you will not have the option to then filter the non-bank sales for the last 6 months.
  
You can now easily view our Market Trend reports for Shelby, Fayette, and Tipton Counties under the “Market Trends” menu.
  
We value your feedback! Please tell us what you think about these new features! Click here to complete our brief survey! 
  
As always, we are here to support you! Please contact us 901-458-6419 or webhelp@chandlerreports.com if you have any questions!
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First Quarter Home Sales Report

April 14th, 2011 Comments off
Home sales were down 14% from the first quarter of 2010, but average sales prices were up 5% to $116,516!
  
The first quarter of the year closed with 2,661 total home sales compared to 3,095 from the prior year.
  
Areas with the best year-over-year performance include: 
  • River Oaks (38120), up 40%
  • Germantown East (38139), up 33%
  • Millington (38053), up 24%  
60% of the homes sold for the quarter were under $100,000. High-end home sales, homes sold for over $600,000, were up 10%.
  
Bank sales were down by 31% for the quarter but average bank sales prices were up 18% to $71,119. 
  
New home sales were down 32% with 158 recorded for the quarter with an average sales price of $225,073, up 5% from the first quarter last year! 
  
1,089 foreclosures occurred, down 23% from last year. The City of Memphis had the most with 786 total and an average foreclosure amount of $67,683.
  
Arlington, Bartlett and Millington all had decreases in foreclosure activity. Germantown, Collierville and Lakeland all had increases of more than 30% on their total number of foreclosures.
  
Community Mortgage filed the most residential loans at time of sale with 165 total and an average mortgage amount of $145,355.
  
Click here to view all of our March and First Quarter 2011 Residential Market Trend reports.
Register for our first quarter “Master Your Market” seminar on Thursday, May 5th from 3:30PM-4:30PM at the Germantown Great Hall’s Media Room.
  
Join us for an overview of residential and commercial market trends including sales, foreclosures, new housing, mortgages and more!
  
Guest speakers Todd Glidewell of C&I Appraisal and Hank Hogue of Crye-Leike will provide their perspectives on local market activity!
  
Click here to register today!

 

 

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