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Shelby County Year End 2011 Home Sales Report

January 6th, 2012

Year end home sales in Shelby County totaled 12,598 down 6% from 13,346 in 2010. 

Bank sales saw a large decline, down 18% from last year while non-bank sales remained unchanged with 9,151 recorded this year compared to 9,133 last year. 

27% of all home sales in the County were bank sales versus 32% in 2010. 

December home sales were down 6% from December 2010 with 881 sales recorded. This was the first month since July that didn’t have year over year performance. July-November all had better months in 2011 than their respective months in 2010. 

Average home sales prices for the year were only down slightly to $121,448 compared to $124,271 at the close of last year.  

Total foreclosures were down 14% from 2010 with 3,994 total for the year. December saw a large increase in foreclosures, up 65% from December 2010 with 408 recorded while December foreclosure notices were down 25% from last year.

Overall, year end foreclosure notices were down 9% from 2010.

New home sales were down 24% for the year with 756 recorded averaging $217,062.  

Existing home sales prices were down 1% from 2010 to $115,344 compared to $116,278.    

Cordova North (38016) had the most home sales for the year with 741 total and Collierville (38017) had the most sales revenue with $202 million.  

Click here to view our complimentary December 2011 and Year-End Residential Market Trend reports. 

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