Archive for January, 2015

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

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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.