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Shelby County September Home Sales Report

October 14th, 2011
Home Sales Up 2%! 

 

Home sales in Shelby County totaled 1,073, representing a 2 percent boost from 1,053 in September 2010. 

Last month’s totals were also a 13 percent decrease from 1,229 in August. 

Home sales averaged $125,469, a 1 percent dip from $126,446 in September 2010. 

Total sales volume in September reached $134.6 million, a 2 percent jump from $133 million in September 2010, but a 13 percent decrease from $166 million in August.

Like Q3, last month’s bank sales declined. September’s 258 bank sales marked a 25 percent drop-off from September 2010’s 346 sales and were 21 percent lower from August’s 327.

Foreclosure sales in the county averaged $69,998 – up 4 percent from the prior month – and totaled $18 million. 

Meanwhile, nonbank sales in September totaled 815 – a 15 percent increase from 707 year over year – but a 10 percent dip from August’s 902 sales. Traditional sales averaged $143,029 last month and reached $116.6 million in total sales volume. 

Existing home sales totaled 1,006 in September, a 4 percent decrease from September 2010 and a 13 percent increase from August. Home sales in the category averaged $119,032 and totaled $119.7 million.

On the other hand, new home sales totaled 67 in September, down 23 percent from 87 during the same month a year ago. New home sales averaged $222,110 and totaled $14.9 million. 

The highest producing ZIP in September was a tie between Arlington’s 38002 and Cordova North’s 38016, with 66 sales each. Cordova North was also the highest producing for bank sales, with 23 averaging $108,300 and totaling $2.5 million.

Year to date, Shelby County has seen 550 new home sales, down 32 percent from 813 during the previous year-to-date period.

Click here to view our September 2011 and Q3 Residential Market Trend reports.

Home sales report provided by Sarah Baker of The Daily News.  
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