Posts Tagged ‘real estate market’

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.

Shelby County January Home Sales Report

February 8th, 2013 Comments off

Home Sales

If January home sales are any indication of what’s to come in 2013 it’s going to be a banner year for residential real estate!

1,344 home sales were recorded for the month, up 46% from January 2012 and up 14% from December. 

Average home sales prices were up 4% from last year to $114,120 compared to $109,716.

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

Bank sales were up 12% from last year with 317 recorded accounting for 24% of total home sales. The average price of a bank sale was up 13% to $72,438 compared to $63,905 in January 2012.

61% of all home sales were valued under $100,000.

Home sales over $1 million were up 300% with 3 filed for the month compared to zero last January. 

Click here to review our January Market Trends reports.

Attend our Master Your Market seminar on Thursday, February 14th to review all of our 2012 Market Trends reports in detail and hear from guest speakers about local real estate topics. Register here.

Commercial Sales

Commercial sales were up slightly in 2012 with 743 sales recorded for the year compared to 725 in 2011, a change of 2.5%.

Average sales prices for commercial properties were up 32% to $1.5 million and total revenue was up 36% with $1.1 billion in total sales compared to $798 million last year.

Sales of Churches and Schools saw the most improvement, up 29% from last year followed closely by Industrial sales with 28% improvement from 2011.

Vacant Land Over 1 Acre (150), Warehouses (95) and Apartments (80) had the most sales recorded for the year. Click here to review the top 5 commercial transactions for 2012.

Commercial bank sales were up 12% from last year with 55 recorded compared to 49 in 2011. Foreclosures on commercial properties were down 14% for the year with 100 recorded averaging $1.1 million.

Click here to review our Year-End Commercial Market Conditions reports.

Residential Foreclosure Analysis

Residential foreclosures were down 9% with 402 recorded compared to 443 last January.

The average amount of a foreclosed home was $84,464 and the average tax appraisal value was $114,717.

Foreclosure activity was down in every city except Bartlett, Lakeland and Germantown. Memphis claimed the most foreclosures with 286 total, down 9% from January 2012.

Foreclosure notices were down 15% for the month with 627 recorded compared to 741 last year.  

Frayser (38127) had the most foreclosure inventory at the end of the month with 235 homes valued at $12.7 million.

Fannie Mae owned the most homes in foreclosure inventory with 391 valued at $50.6 million.

Click here to review our January Market Trends reports.

New Housing & Builder Activity

New home sales were up 20% in January with 71 sales recorded compared to 59 last year.

The average sales price of a new home was up 6% for the month to $247,094. 

Bartlett (18), Collierville (12) and Arlington (12) recorded the most new home sales.

884 new home permits were filed in 2012, up 26% from 2011. Arlington had the most new home permits filed with 206 total averaging $227,109.

Regency Homebuilders ended the year as the top builder with 208 new home starts and 167 new home sales averaging $222,506.

Click here to review our January Market Trends reports.

Mortgage Trends & Lending Analysis

624 residential loans were filed at the time of sale, up 34% from last January.

The average mortgage amount was $148,310 with an average sales price of $169,955 making the average loan to value ratio 87%.

365 loans filed were conventional fixed rate, 169 were FHA fixed rate, 21 were VA fixed rate and 24 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 62 loans followed by Magna Bank with 37 loans and Regions Bank with 32 loans. 

Click here to review our January Market Trends reports.

Thanksgiving Wishes from Chandler Reports

November 21st, 2012 Comments off

At Chandler Reports we always have a lot to be grateful for and this year we are especially thankful. 

We have wonderful friends and clients, many that have been with us since our inception in 1968, and many more that have joined us over the years.

We are fortunate to have an organization with individuals dedicated to providing the best data available. The Chandler Reports family is grateful for one another and all that we have to contribute to our clients and community. Taking pride in our work and delivering the best customer service is something we are extremely thankful for. If it weren’t for all of you, we wouldn’t be here doing what we love.

The housing market is stabilizing and we are excited that our client’s businesses have picked up! With the unstable economy, many real estate professionals had to hang up their hats and we are seeing more and more coming back to the industry and to those we say “Welcome back and how can we help you?” To those that weathered the storm over the last few years, we say thank you for your continued business and we are excited to watch you grow your business as the market improves.

As we look ahead to 2013, we will continue to be thankful for all of those that work with us on a daily basis. Next year we celebrate 45 years of providing quality real estate data and we hope that you celebrate with us.

From the entire Chandler Reports family, we wish you a very Happy Thanksgiving! We hope that you continue to be blessed!

New Housing Inventory Update

October 1st, 2009 Comments off

Chandler Reports has added Residential New Housing Inventory Analysis to it’s new Market Trends reports! These online reports are updated monthly and quarterly and provide a comprehensive view of the new housing market in Shelby County.

Subscribers can review New Home Sales by ZIP Code, New Housing Analysis by ZIP Code, the Top Builders, Top 25 Subdivisions with New Home Permits and Top 25 ZIP Codes for New Home Permits!

These reports are great for banks, lenders, government agencies, builders and anyone interested in tracking Shelby County’s new housing market.

For the month of August, Arlington (38002) claimed the most new home sales with a total of 13 sales and an average sale value of $272,995. Regency Homes was ranked the Top Builder based on the total number of new home permits filed. They filed 9 permits with an average permit value of $111,414. Bowden sold 6 new homes in August, making them the Top Builder for total number of new home sales with an average sales value of $143,633.

Click here  to view these new reports and additional reports including: Residential Market Conditions, Commercial Market Conditions and Detailed Forelcosure Analysis.