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Posts Tagged ‘2014’

Memphis & Shelby County 2014 Year-End Home Sales

January 12th, 2015 Comments off

2014 home sales totals for Memphis and Shelby County were down slightly from 2013 with 15,700 recorded for the year compared to 15,894 recorded last year. The major decline in bank sales (down 26%) resulted in total home sales having a slight decrease of 1% from 2013.

Average sales prices continue to improve and were up 5% to $145,028 compared to $138,115 in 2013 resulting in a 4% increase in total sales volume from last year with $2.3B recorded for the year compared to $2.2B recorded in 2013.

12 out of 33 zip codes in the county had an increase in overall sales activity and 79% of zip codes saw an increase in average sales prices.

The median sales price was $107,050, up 9% from $98,000 in 2013.

Click here to download our annual “Residential Sales by Zip Code” report for a complete analysis of home sales activity by zip code.

 

Memphis & Shelby County Commercial Sales up 14% in 1st Quarter

April 24th, 2014 Comments off

There were 223 commercial property sales recorded in the first quarter of 2014 compared to 196 in the first quarter of 2013, a 14% increase in total sales volume. Average sales prices were up 13% to $1.5 million compared to $1.3 million in Q1 2013.

Multi-family properties had the largest increase in sales activity with 33 recorded for the quarter, up 83% from last year. Apartments made up most of these sales with 30 recorded averaging $2.9 million per transaction.

Retail, Office and Land sales all showed improvements over last year while Industrial, Entertainment and the sales of Churches & Schools were down.

Vacant land over 1 acre had 42 sales claiming the most sales for the quarter followed by neighborhood single tenant commercial properties with 34 sales, apartments with 30 sales and warehouses with 27 sales.

Midtown’s 38104 recorded the most commercial sales for the quarter with 19 total averaging $805,000.

The largest commercial transaction recorded for the quarter was the sale of  Miller Creek of Germantown apartments located in Southeast Shelby County. The 330-unit complex sold for $44 million on January 21st. Click here for a full report of the transaction from The Daily News.

Download our complete collection of commercial market trends for the 1st Quarter including:

  • Commercial Foreclosures by Zip Code
  • Commercial Sales by Property Groups (Office, Retail, Industrial, etc.)
  • Commercial Sales by Property Type (Apartment, Warehouse, Church, etc.)
  • Commercial Sales by Zip Code – Bank vs. Non-Bank
  • Commercial Sales by Property Type – Bank vs. Non-Bank

Commercial Market Conditions - Shelby County