Shelby County Year End 2011 Home Sales Report
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.
