June Home Sales Up 6 Pct.

By Sarah Baker

Much like the second quarter of the year, June’s home sales report saw increases in nearly all categories.

Shelby County home sales were up 6 percent last month, with 1,327 recorded compared to 1,247 in June 2011, according to real estate information company Chandler Reports, www.chandlerreports.com.

Year to date, home sales were up 15 percent from last year.

The month closed with $189 million in revenue, up 17 percent from $161 million in June 2011. And average home sales prices were up 10 percent to $142,341.

Like Q2, Collierville’s 38017 ZIP code saw the most sales activity of all of Shelby County’s 34 ZIP codes, with 102 sales averaging $288,609 and totaling $29 million in sales volume. Eads’ 38028 ZIP posted the highest average sales price, with $813,300.

Bank sales made up 27 percent of total home sales in June with 352 recorded, up 12 percent from 313 last June. Foreclosure sales averaged $70,665 and totaled $25 million.

Meanwhile, nonbank sales notched 975 sales last month, a 4 percent increase from June 2011. Traditional sales averaged $168,219 and totaled $164 million.

New sales were down 26 percent with 62 recorded for the month. But the average price for a new home sale was $256,012, up 13 percent from June 2011.

Conversely, existing homes sold in June totaled 1,265, a 9 percent uptick from June 2011. Sales in that category averaged $136,770 and reached $173 million in sales volume.

Chandler Reports is a division of The Daily News Publishing Co. Inc.