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July Residential Foreclosure Analysis-Memphis & Shelby County

August 15th, 2013 Comments off

Residential foreclosures were down 18% in July with 287 recorded compared to 350 last year.

The average amount of a foreclosed property was $84,802 and the average tax appraisal value was $116,999, both down 2% from July 2012. 

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

Foreclosure activity was down in July for virtually every municipality. Arlington and Germantown had slight increases while the city of Memphis had an 18% decrease. 

Foreclosure notices were down 15% for the month with 561 recorded compared to 659 last July. 

Westwood (38109) had the most properties in foreclosure inventory at the end of the month with 239 homes valued at $11.6 million. Frayser was a close second with 231 properties.

Fannie Mae owned the most foreclosed properties with 372 total valued at $40 million.

Click here to download our Detailed Foreclosure Analysis reports.