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Memphis & Shelby County 3rd Qtr CRE Review

October 31st, 2014

Commercial sales were up 17% in the third quarter of 2014 with 224 sales recorded compared to 191 recorded in the third quarter of 2013.

Total revenue was up 126% with the quarter ending with $312M in revenue compared to $137M in 2Q13.

Through September of this year commercial sales are up 13% from the same period last year.

The average sales price of a commercial property was $1.4M, up 94% from an average sales price of $720K in the third quarter of last year.

Property types with the most sales in 3Q14 were Land Sales with 53 sales, Retail properties with 43 sales and Multi-Family with 37 total sales.

Multi-Family properties had the most improvement from last year with 32 total sales, up 106% from the 18 recorded in 3Q13.

Vacant land over 1 acre (43), Apartments (32) and Warehouses (28) had the most sales by building type.

Commercial foreclosures were down 32% from last year with 15 recorded for the quarter compared to 22 recorded last year.

Download our complete collection of commercial market trends reports for Memphis and Shelby County at: http://bit.ly/1rGin7p

Commercial Market Conditions - Shelby County

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