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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 73 391 11,120
MORTGAGES 88 481 13,903
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 198 969 24,034
BANKRUPTCIES 54 288 8,432
BUSINESS LICENSES 29 126 3,771
UTILITY CONNECTIONS 67 536 13,457
MARRIAGE LICENSES 17 103 3,031

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