VOL. 129 | NO. 8 | Monday, January 13, 2014
December Home Sales Decline Slightly
By Amos Maki
Shelby County home sales declined slightly in December when compared to the same month in 2012, but home prices showed strong gains.
The county recorded 1,143 home sales in December, down 3 percent from 1,176 homes sold in December 2012, according to real estate information company Chandler Reports, www.chandlerreports.com. The 1,143 homes sold in December was up slightly from the 1,124 homes sold in November.
Overall, 15 out of 33 ZIP codes in the county had an increase in overall sales activity for the month and 24 ZIP codes experienced an increase in average sales prices.
The average sales price of a home in December was $137,383, up 14 percent from $120,633 in December 2012. Total sales volume for December was $157 million, up 11 percent from $141.8 million in December 2012.
The 38018 ZIP code of Cordova South led the way in sales in December with 79. Cordova North’s 38016 ZIP code came in second, with 75 sales. Collierville’s 38017 ZIP code was third, with 72 home sales.
There were 215 bank, or foreclosure, sales in December, down 18 percent from 261 bank sales in December 2012. The average sales price of a bank sale was $82,405, up 10 percent from $74,786 in December 2012.
Shelby County recorded 928 nonbank sales in December, up 1 percent from 915 nonbank sales in December 2012. The average price of a nonbank sale was $150,120, up 12 percent from $133,710 in December 2012.
There were 1,079 existing homes sold in December, down 3 percent from 1,115 existing homes sold in December 2012. The average sales price for an existing home in December was $130,802, up 16 percent from $112,521 in December 2012.
Shelby County recorded 64 new home sales in December, down 3 percent from 61 new homes sold in December 2012. The average sales price of a new home in December was $248,339, down 8 percent from $268,898 in December 2012.
Chandler Reports is a division of The Daily News Publishing Co. Inc.