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VOL. 129 | NO. 72 | Monday, April 14, 2014

Shelby County Home Sales Up 6 Percent in March

By Amos Maki

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Shelby County home sales increased in March when compared to the same month last year.

Shelby County recorded 1,191 home sales in March, up 6 percent from the 1,127 homes sold in March 2013, according to real estate information company Chandler Reports, www.chandlerreports.com. The 1,191 homes sold in March is up from 983 homes sold in February.

The average sales price of a home in March was $140,380, up 6 percent from $132,680 in March 2013. Total sales volume in March was $167.19 million, up 12 percent from $149.53 million last March.

Cordova South’s 38018 ZIP code led the way in sales with 90 averaging $143,420. Collierville’s 38017 ZIP code recorded 80 sales averaging $303,278. The 38016 ZIP code in Cordova North recorded 74 sales averaging $132,026.

Of the 33 ZIP codes in Shelby County, 13 had an increase in overall sales activity for the month and 23 experienced an increase in average sales prices.

There were 241 bank, or foreclosure, sales in Shelby County in March, down 13 percent from 276 bank sales last March. The average price of a bank sale was $68,775, down 9 percent from $75,600 in March 2013.

Shelby County recorded 950 non-bank sales in March, up 12 percent from 851 last March. The average price of a non-bank sale was $158,545, up 5 percent from $151,192 in March 2013.

Realtors sold 54 new homes in March, down 19 percent from 67 new homes sold in March 2013. The average sales price of a new home was $256,161, down 3 percent from $262,855 last March.

There were 1,137 existing homes sold in March, up 7 percent from 1,060 homes sold in March 2013. The average sales price of a home in March was $134,881, up 8 percent from $124,452 last March.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 85 354 12,626
MORTGAGES 113 438 16,470
FORECLOSURE NOTICES 21 98 3,290
BUILDING PERMITS 358 918 27,694
BANKRUPTCIES 55 276 10,490
BUSINESS LICENSES 18 120 4,204
UTILITY CONNECTIONS 78 429 16,350
MARRIAGE LICENSES 26 125 3,691

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