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June Home Sales Update

July 7th, 2011
Highest Home Sales YTD!  

June closed with 1,242 home sales, the most home sales seen since June 2010! Average home sales prices for the month were $128,566, the highest since December 2010!  

Bank sales continue to decline, down 23% from June 2010 and down 2% from May 2011 with 325 closed for the month and an average sales price of $73,168, up 16% from the prior month.

New home sales were up 25% from May with 77 closed for the month averaging $220,335. 

Foreclosures were down 9% from last year with 364 recorded and an average foreclosure amount of $123,373. Foreclosure activity was highest in Frayser (38127), Raleigh (38128), Oakhaven/Parkway Village(38118) and Hickory Hill North (38115). 830 foreclosure notices were issued in June, down 8% from the prior year. 

54% of all home sales were sold for under $100,000. The largest home sale was for a property located on Grandview Ave. The 5,300 sqft home closed on June 1st for $962,500. 

Join us Wednesday, July 27th for a complete review of Shelby County’s 2nd Quarter results in our “Master Your Market” seminar where we’ll cover residential and commercial sales, foreclosures, loan activity, new housing and more! Click here for details.   

Click here to view our June and 2nd Quarter 2011 Residential Market Trend reports.

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