September Home Sales Show Slight Increase

By Amos Maki

Shelby County home sales cooled off in September, with a meager increase in homes sold compared to September 2012 and a decline from August.

There were 1,288 homes sold in Shelby County in September, up 1 percent from 1,273 homes sold in September 2012, according to real estate information company Chandler Reports, www.chandlerreports.com.

The 1,288 homes sold in September were down from 1,709 homes sold in August.

Doug Collins of Prudential Collins-Maury said a decline in September was expected because of August was such a strong month for sales.

“August was so good that September would naturally be down a little,” Collins said.

Total sales volume in September was $179.9 million, up 11 percent from $162.7 million last year. The average sales price in September was $139,712, up 9 percent from $127,855.

There were 212 bank – or foreclosure – sales in Shelby County in September, down 27 percent from 289 last year. There were 1,075 non-bank sales in September, up 9 percent from 984 last year.

There were 1,230 existing home sales in September, up 2 percent from 1,203 last year. There were 58 new homes sales in September, down 17 percent from 70 last year.

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