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September New Housing Report

October 27th, 2011

Only 67 new home sales were recorded for September, down 23% from last year. On a positive note, average new home sales prices were up 3% to $222,110.

Winstead Farms, Gardens of Grays Creek, Central Gardens Square and Fountain Brook all had the most new home sales with 4 per subdivision.

Arlington (38002) had the most home sales with 16 total averaging 3,900 sqft and $268,507 followed closely by Cordova-North (38016) with a total of 14 sales averaging $137,818.

Regency Home Builders had the most new home sales, 9 total averaging $175,053. They also filed the most new home permits for the month with 13 total averaging $233,451.

Gerland Creek in Southeast Shelby County (38125) and Trinity Park in 38118 had the most new home permits filed with 6 each. The homes in Trinity Park are Habitat for Humanity homes, http://www.memphishabitat.com/TrinityPark.shtml

Arlington had the most new home permits filed for the month with 57 total averaging 3,466 sqft and $263,494.

For a complete review of new housing, please join us Thursday, November 3rd from 3:00PM-4:30PM at the Germantown Conference Center where we’ll review 3rd Quarter residential and commercial sales, foreclosures, new housing, mortgages and more! Guest speakers will discuss the school consolidation and how the new changes may affect the housing market. Click here to register.

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