February Home Sales Update
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.
