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February Home Sales Update

March 11th, 2013

Shelby County home sales slipped a bit in February but average sales prices were up considerably.

A major decline in bank sales activity decreased overall sales totals but bumped up average sales prices. Non-bank sales prices were also up contributing to the increase in sales price. 

920 home sales were recorded for the month, down 7% from 994 recorded in February 2012. 

Average home sales prices were up 18% from last year and were up 1% from January 2013 to $115,764.

Year-to-date home sales are up 18% and average sales prices are up 11% from the same time last year.

20 out of 33 zip codes in the county had an increase in average sales prices.

Bank sales were down 32% from last February with 211 recorded accounting for 23% of total home sales. 

The average price for non-bank sales were up 13% to $129,772 compared to $114,495 last February.

60% of all home sales were valued under $100,000.

Home sales over $300,000 were up 16% with 58 filed for the month compared to 49 last February. 

Click here to review our February Market Trends reports.

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