Archive

Posts Tagged ‘commercial’

2013 Commercial Real Estate Review: Seminar Recap

November 14th, 2013 Comments off

Commercial Real Estate Market Reawakens

Article by: Amos Maki, The Daily News

After suffering through a prolonged slump, the Memphis commercial real estate market this year began to shake off the rust that gathered during the “Great Recession,” and brighter days could be ahead for the prime markets in the apartment, retail, office and industrial sectors, according to local experts.

However, to make sure the commercial real estate market continues its rebound, civic and business leaders must maintain a laser focus on job creation.

Those themes emerged during the 2013 Commercial Real Estate Review & Forecast hosted by The Daily News on Thursday, Nov. 7, at the Memphis Brooks Museum of Art.

Click here to read the full article from The Daily News.

You may review the presentations delivered by speakers Wyatt Aiken, Brad Kornegay, Blake Pera and Jason Polley by clicking the links below:

Office Real Estate  – Wyatt Aiken, Commercial Advisors 

Industrial Real Estate – Brad Kornegay, Colliers International

Multifamily Real Estate – Blake Pera, CB Richard Ellis

Retail Real Estate– Jason Polley, Stonecrest Investments

 

3rd Qtr Commercial Market Trends for Memphis & Shelby County

October 14th, 2013 Comments off

3rd Quarter commercial sales were up 35% compared to the 3rd Quarter of 2012. Average sales prices for commercial properties were down 33% to $716K.

Download our complete collection of 3rd Quarter 2013 Commercial Market Trends reports at: http://bit.ly/1gEPtT4 to review all commercial sales and foreclosure activity in Memphis & Shelby County.

Our Commercial Market Conditions reports provide you insight into local commercial market activity and trends.

Included in your purchase:

  • 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

Available in PDF format by specific month, quarter or year.

Commercial Market Conditions - Shelby County

Memphis & Shelby County August Home Sales Update

September 9th, 2013 Comments off

Home Sales

1,710 home sales were recorded in August, up 15% from 1,483 in August 2012.

Average home sales prices were up 12% to $139,223 from $124,726 last year.

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

Bank sales accounted for 16% of total home sales for the month and were down 31% from last August with 275 recorded. Year-to-date bank sales are down 20% from the same period last year.

24 out of 33 zip codes in the county had an increase in overall sales activity in August and 27 zip codes had an increase in average sales prices.

51% of all home sales for the month were valued under $100,000.

Home sales over $1 million were up 300% from last year with 3 recorded compared to 0 recorded in August 2012.

Click here to download our Residential Market Conditions reports.

You may review our complete Pulse Report covering all residential and commercial sales activity, foreclosure analysis and mortgage trends here: http://conta.cc/17FkIoZ

Click here to subscribe to our FREE monthly Pulse Report covering Memphis & Shelby County real estate trends.

 

July Home Sales Update for Memphis & Shelby County

August 8th, 2013 Comments off

There were 1,694 home sales recorded in July, up 19% from 1,420 in July 2012.

Average home sales prices were up 10% to $156,310 from $142,180 last year.

Year-to-date home sales are up 10% and average sales prices are up 10% to $136,552.

Bank sales accounted for 15% of total home sales for the month and were down 20% from last July with 260 recorded. Year-to-date bank sales are down 18% from the same period last year.

22 out of 33 zip codes in the county had an increase in overall sales activity in July and 26 zip codes had an increase in average sales prices.

43% of all home sales for the month were valued under $100,000.

Home sales over $1 million were up 100% from last year with 6 recorded  compared to 3 in July 2012.

Click here to download our Residential Market Conditions reports or click here to read our Pulse Report for a review of commercial sales, foreclosure activity, new housing and builder trends and activity with mortgages and lending.

Improving Real Estate Market Offers Hope

July 29th, 2013 Comments off

Article by Amos Maki of The Daily News

The 2013 countywide reappraisal resulted in a historic drop in property values, but improving real estate metrics are providing a glimmer of hope for the local economy.

That was the message industry professionals heard Thursday, July 25, at real estate information company Chandler Reports’ 2013 Mid-Year Master Your Market seminar at the Memphis Marriott East.

The 2013 Shelby County reappraisal has touched every property owner and forced city and county governments to raise taxes to just produce the same amount of revenue before the overall tax base dropped.

For the first time in recorded history Shelby County property values – including those in the city of Memphis and all of its suburban municipalities – dropped, by 3.9 percent.

Click here to read the full article.

2nd Qtr 2013 Commercial Market Trends

July 12th, 2013 Comments off

Commercial Market Conditions - Shelby CountyOur 2nd Quarter 2013 Commercial Market Trends Reports are now available for download! Review all commercial sales and foreclosure activity in Memphis and Shelby County by zip code.

Reports include:

  • Commercial Foreclosures by Zip Code
  • Commercial Sales by Property Groups
  • Commercial Sales by Property Type
  • Commercial Sales by Zip Code – Bank v. Non-Bank
  • Commercial Sales by Property Type – Bank v. Non-Bank
  •  

    Click here to download today!

    June 2013 Real Estate Update

    July 9th, 2013 Comments off

    Home Sales

    June closed out the second quarter with 1,444 home sales, up 9% from 1,327 in June 2012.

    Average home sales prices were up 11% to $158,056 from $142,341 last year.

    Year-to-date home sales are up 9% and average sales prices are up 10%. 2nd Quarter sales were up 11% from 2Q 2012.   

    Bank sales accounted for 15% of total home sales  for the month and were down 39% from last June with 214 recorded. Year-to-date bank sales are down 18% from the same period last year.

    21 out of 33 zip codes in the county had an increase in overall sales activity in June and 22 zip codes had an increase in average sales prices. 

    45% of all home sales for the month were valued under $100,000.

    Home sales over $500,000 were up 12% from last year with 47 recorded  compared to 42 in June 2012. 

    Attend our “Master Your Market” 2013 Mid-Year Review for a full recap of real estate trends through the first half of the year. Guest speaker Cheyenne Johnson, Shelby County Assessor, will discuss the 2013 tax reappraisal and Don Caylor, President of the Memphis Area Home Builders Association, will review the latest in new housing and builder activity. Click here to register.

    Click here to download our Residential Market Conditions reports.

    Commercial Sales

    Commercial sales were down 14% in May with 61 recorded compared to 71 in May 2012.

    Average sales prices were down 70% to $560K compared to $1.8 million last year. 

    Through the first 5 months of the year overall commercial sales are up 5% and average prices are down 21% from the same period last year.

    The largest commercial transaction recorded in May was the sale of 5155 Citation Drive in Oakhaven for $11.3 million. The 398,992 square-foot warehouse was purchased by Exeter Property Group on May 21st. Click here to read the full details of the transaction.

    Office and Special Purpose properties saw an increase in overall sales activity in May while all other property types had decreases or were unchanged from May 2012.

    Vacant Land Over 1 Acre (10), Apartments (9) and Warehouses (8) had the most sales by property type in May. 

    Click here to download our latest Commercial Market Conditions reports.

    Residential Foreclosure Analysis

    Residential foreclosures were down 16% in June with 253 recorded compared to 301 last June.

    The average amount of a foreclosed property was $78,418 and the average tax appraisal value was $109,009, both down slightly from June 2012. 

    Year-to-date foreclosures are down 15% from the same period last year.

    Foreclosure activity was down in June for virtually every municipality. Arlington and Millington had slight increases while the city of Memphis had a 13% decrease. 

    Foreclosure notices were down 7% for the month with 601 recorded compared to 646 last June. 

    Westwood (38109) had the most properties in foreclosure inventory at the end of the month with 237 homes valued at $11.4 million. Frayser, Raleigh and Oakhaven all have over 200 properties in their foreclosure inventory. 

    Fannie Mae owned the most foreclosed properties with 372 total valued at $40.7 million.

    Click here to download our Detailed Foreclosure Analysis reports.

    New Housing & Builder Activity

    New home sales were up 9% in June with 79 sales recorded compared to 70 in June 2012.

    The average sales price of a new home was up 11% to $255,581.

    Year-to-date new home sales are up 17% and average new home sales prices are up 6%. 

    Arlington (18), Collierville (17) and Southeast Shelby County (7) had the most new home sales recorded for the month.  

    105 new home permits were filed in May, up 4% from May 2012. Collierville had the most new home permits filed in May with 20 total averaging $297,184. 

    Regency Homebuilders was the top builder in May based on new home sales and new home permits with 21 sales recorded averaging $240,256 and 28 permits filed averaging $219,309.

    Click here to download our New Housing Inventory & Analysis reports.

    Mortgage Trends & Lending Analysis

    802 residential loans were filed in June at the time of sale, up 8% from June 2012.

    The average mortgage amount was up 7% from last year to $183,958 with an average sales price of $211,731 making the average loan to value ratio 87%.

    Collierville had the most loans recorded at the time of sale with 106 total averaging $255,650.

    480 loans filed were conventional fixed rate, 185 were FHA fixed rate, 40 were VA fixed rate and 10 were short term loans, loans due within one year.

    The top lenders in June based on the total number of residential loans filed at time of sale were Magna Bank with 90 loans, Community Mortgage Bank with 69 loans and BancorpSouth Bank with 47 loans.

    Click here to download our Residential Lender Analysis reports.

    Chandler Reports Opens Online Store

    May 20th, 2013 Comments off

    We receive a lot of requests for reports on new housing, foreclosures, lending and residential and commercial sales activity which is why we have launched a new online store that provides you immediate access to pertinent real estate data for Memphis and Shelby County.

    Chandler Reports Online Store is your resource for historical and current market trends and the most comprehensive housing reports available including:

    Reports are also available for West and Middle TN! Please check back often as we are continually updating our store and offering new and exclusive reports that no other data source can provide.

    Download the data that you need, when you need it! You are just a click away from the most trusted real estate data available!

    April Real Estate Update

    May 13th, 2013 Comments off

    Home Sales

    April was a great month for local real estate! Home sales were up 20% from last year with 1,337 sales recorded compared to 1,113 recorded in April 2012.

    Average home sales prices were up 7% to $128,797 from $120,376 last year.

    Bank sales accounted for 25% of total home sales and were down 1% from last April with 333 recorded.

    Year-to-date home sales and average sales prices are both up 10% from the same time last year.

    25 out of 33 zip codes in the county had an increase in overall sales activity and 25 of 33 zip codes had an increase in average sales prices.

    54% of all home sales in April were valued under $100,000 with 728 total, up 14% from 636 in April 2012.

    Home sales over $500,000 were up 71% with 24 filed for the month compared to 14 last year.

    Click here to review our April Residential Market Conditions reports.

    Commercial Sales

    Commercial sales were up 6% at the end of the first quarter with 196 recorded compared to 185 during the first quarter of 2012.

    Average sales prices were up 28% to $1.3 million compared to $1.0 million last year.

    Automotive, Entertainment, Industrial, Office and Retail properties all had increases in sales activity. Multi-Family, Churches and Schools and Land/Agricultural sales were all down from the prior year.

    The average prices for Industrial and Office properties were up 145% and 143% respectively.

    Vacant Land Over 1 Acre (33), Warehouses (29) and Office Buildings (18) had the most sales by property type.

    The largest commercial transaction recorded in the first quarter was the sale of the Villas at Grays Creek and the sale of the Carrington at Houston Levee in Cordova. The apartment complexes sold for a combined $44.8. Click here to read the details of the transaction.

    Click here to review our Q1 2013 Commercial Market Conditions reports.

    Residential Foreclosure Analysis

    Residential foreclosures were down 4% in April with 371 recorded compared to 387 last year.

    The average amount of a foreclosed home was $86,153 and the average tax appraisal value was $115,660, both down 2-3% from April 2012.

    Foreclosure activity was down in virtually every municipality. Memphis had a slight increase of 3% and claimed the most foreclosures with 292 total.

    Foreclosure notices were down 13% for the month with 601 recorded compared to 692 last April.

    Westwood (38109) had the most foreclosure inventory at the end of the month with 238 homes valued at $14.6 million. Frayser (38127) was a close second with 229 homes in foreclosure inventory totaling $12.3 million.

    Fannie Mae owned the most homes in foreclosure inventory with 410 valued at $51.9 million.

    Click here to review our Detailed Foreclosure Analysis reports.

    New Housing & Builder Activity

    New home sales were up 5% in April with 69 sales recorded compared to 66 last year.

    The average sales price of a new home was up 11% to $280,585.

    Year-to-date new home sales are up 15% and average new home sales prices are up 10%.

    Collierville (18), Arlington (10) and Southeast Shelby County (9) recorded the most new home sales for the month.

    123 new home permits were filed in the first quarter of the year down 39% from Q1 2012. Arlington had the most new home permits filed for Q1 with 50 total averaging $246,667.

    Regency Homebuilders was the top builder for the first quarter with 54 new home starts and 43 new home sales averaging $219,510.

    Click here to review our New Housing Inventory & Analysis reports.

    Mortgage Trends & Lending Analysis

    667 residential loans were filed at the time of sale, up 10% from last April.

    The average mortgage amount was up 10%from last year to $159,275 with an average sales price of $183,354 making the average loan to value ratio 87%.

    Collierville had the most loans at time of sale with 68 total averaging $272,973.

    386 loans filed were conventional fixed rate, 176 were FHA fixed rate, 31 were VA fixed rate and 12 were short term loans, loans due within one year.

    The top lenders based on the total number of residential loans filed at time of sale were Community Mortgage with 60 loans followed by Magna Bank with 47 loans and Wells Fargo with 37 loans.

    Click here to review our Residential & Commercial Lender Analysis reports

    February Home Sales Update

    March 11th, 2013 Comments off

    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.