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VOL. 128 | NO. 9 | Monday, January 14, 2013

December Home Sales Up 34 Percent

By Sarah Baker

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Mirroring the trend seen in 2012, December home sales in Shelby County saw increases from 2011 in multiple categories.

The last month of the year notched 1,180 home sales, a 34 percent increase from the same month in 2011, according to real estate information company Chandler Reports, www.chandlerreports.com.

Average home sales prices in December were down slightly from last year to $120,662 compared to $122,251 last December. Total sales volume reached $142.4 million, a 32 percent hike from $107.5 in December 2011.

Bank, or foreclosure, sales made up 22 percent of all home sales for December, with 261 recorded. That marked a 13 percent increase from last December’s 232. Bank sales averaged $71,739 compared to averages of $72,295 in December 2011.

Nonbank, or traditional, sales were up 42 percent in December 2012 compared to December 2011. Sales in that category averaged $134,448, down from $140,164 in 2011.

There were 1,124 existing sales in December, a 37 percent uptick from 823 existing sales in December 2011.

New home sales were unchanged at 56. However, the average price of a new home in the county jumped 29 percent in December 2012 to $279,845.

Frayser’s 38127 ZIP led the county in most overall sales with 76 averaging $24,780. Seventeen of Frayser’s sales were bank sales averaging $20,968.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

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