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February Foreclosure Analysis

March 11th, 2010

Shelby County had 425 foreclosures in February, down 13% from the prior year. The average foreclosure amount was $36,658 and the average appraisal value on the foreclosed properties was $114,799.

Quince/Ridgeway (38119) was up 133% from February 2009 with 7 total foreclosures with an average appraisal amount of $217,171.

Foreclosure notices were also down by 3.4% with 999 total compared to 1,034 in February 2009.

The Top Foreclosure Inventory Holder for the month was Fannie Mae with 444 properties at the end of the month valued at $48 million.

HUD was the Top Seller for the month with 109 sales and an average sale amount of $30,283.

Frayser (38127) remains the leader with the most foreclosure inventory with 445 properties at the end of the month, down 2% from the start of the month.

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