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Posts Tagged ‘sales’

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

“Master Your Market” Presentations Available Online

September 16th, 2013 Comments off

If you missed our latest “Master Your Market” event on June 25th you can still receive all of the valuable information covered in our mid-year market trends seminar. Download our latest presentation with extensive trends and analysis for all of Memphis and Shelby County going back to 2003! Highlights are noted for residential and commercial sales activity, foreclosures, new housing, mortgages and more!

Master Your Market Presentations

Click here to read about the event on The Daily News Online.

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
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    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.

    “Master Your Market” Seminar Overview

    August 3rd, 2012 Comments off

    “Chandler Seminar To Cover Housing”

    An article by Sarah Baker of The Daily News

    Real estate information company Chandler Reports is hosting its “Master Your Market: Second Quarter Update” event for local agents, appraisers, builders, investors and bankers Thursday, Aug. 9.

    The event is slated for Thursday from 3 p.m. to 4:30 p.m. at The Great Hall of Germantown’s Media Room, 1900 S. Germantown Road, behind City Hall next to the tennis courts.

    Topics of discussion will include Shelby County residential and commercial sales, foreclosure analysis, new housing activity and mortgages.

    The keynote presentation will be from Shelby County Trustee David Lenoir, who will discuss the economic impact of vacant, foreclosed and tax-delinquent properties and what kind of solutions can be provided to the problem.

    “There have been a few studies out there in terms of the economic drag, if you will, on how these properties impact neighborhoods and the prices in those neighborhoods,” Lenoir said. “So (discussing) whether it’s just maintaining Shelby County, keeping it financially strong and reducing some of the debt, but then also talking about some of the down payment assistance programs, what the Land Bank is doing and how a tax sale works.”

    In the trustee’s office, Lenoir deals with real estate and tax collections of real estate property and personal business property. His presentation will serve as a precursor to several “real estate road shows” the trustee’s office is rolling out in the coming weeks, which will talk about how the tax sale process works and the current inventory of Shelby County property that the Land Bank owns.

    Lenoir said defining the state of the county’s foreclosure inventory is a difficult task.

    “I don’t think we have a ways to go, but I’m not willing to step out and say that we’ve hit the bottom, ” he said. “It’s a challenge, just due to the reporting process, to really know where we are in foreclosures. (It depends on) how aggressive are the banks, and they seem to change monthly in terms of what they’re doing with foreclosures.”

    Following Lenoir’s presentation will be remarks by Eric Furhman, president and managing broker of Crye-Leike Commercial. He will be speaking about the local commercial market and what his office is experiencing with sales and leasing activity.

    The cost to attend the seminar is $10 for Chandler Reports subscribers and $15 for non-subscribers. Attendees will receive copies of the most popular market trend reports and will be emailed the full presentation.

    To register, visit www.chandlerreports.com. For questions, contact Wendy Greenlaw, Chandler Reports business development manager, at 528-5273 or wendy@chandlerreports.com.