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Shelby County August Home Sales Report

September 8th, 2011
Shelby County had 1,299 home sales in August, up 9% from August 2010! 

Average home sales prices for the month were $135,425 the highest average sales price we have seen since September 2009!  

Bank sales were down 11% from August 2010 with 335 total. Average bank sales prices were up 3% to $63,716. 

New home sales were down 11% from the prior year but were up 15% from July 2011 with 71 total sales. The average sales price for new homes was $205,977 down 6% from August 2010. 

Foreclosures were down 34% from last year with 289 recorded and an average foreclosure amount of $94,661. This was the lowest number of foreclosures recorded since January 2011. 

There was a $2.6 million foreclosure of a home located at 600 Shady Grove Rd. South that foreclosed on August 26th. 

Foreclosure activity was highest in Hickory Hill North (38115), Oakhaven/Parkway Village (38118) and Raleigh (38128). Frayser’s foreclosures were down 57% from the prior year with only 16 recorded for the month. 

785 foreclosure notices were filed in August, down 6% from the prior year. 

54% of all home sales were sold for under $100,000.   

Click here to view our August 2011 Residential Market Trend reports.   
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