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VOL. 132 | NO. 205 | Monday, October 16, 2017

Collierville Home Prices Reach Record High

WENDY GREENLAW, Chandler Reports/Special to The Daily News

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Through the first nine months of this year, average home sales prices in Collierville have reached a record high of $344,845, up 4 percent from $331,456 during the same period of 2016.

Click here to view real estate trends in the Shepherds Creek neighborhood.

Download a Neighborhood Profile Report for your neighborhood at bit.ly/ChandlerNeighborhood, or email Wendy Greenlaw for more information. 

Average home sales prices peaked in Collierville during the height of the market in 2007, when the average price for the year was $330,579.

Sales prices for new homes and luxury homes – those valued at more than $500,000 – are major contributors to the increase in price.

Luxury home sales in Collierville are up 33 percent through the end of September, with 92 recorded averaging $603,319, compared with 69 recorded averaging $636,118 during the same period last year.

While new home sales are down in the municipality, new home prices are up 14 percent from last year, with 68 new home sales recorded through the end of September averaging $516,637, compared with 93 averaging $460,041 recorded in the first nine months of 2016.

The largest home sale recorded in Collierville through the first three quarters of 2017 was the $1.1 million sale of 541 Winding Woods Circle E. The property is located in the new Shepherds Creek subdivision off Shea Road north of West Poplar Avenue. The 6,142-square-foot home was built this year and sold Sept. 8.

Shepherds Creek subdivision in Collierville (Magnolia Homes)

The Shepherds Creek community features homes built by Magnolia Homes along with custom-built properties. There currently are 15 vacant lots in the subdivision and 15 homes under construction. According to Chandler Reports’ Neighborhood Profile Report, average home sales prices in the subdivision have increased 10 percent over the last three years.

Currently 247 homes are available for sale in Collierville’s 38017 ZIP code, and 29 percent of the listings are valued at more than $500,000.

Wendy Greenlaw, business development manager for real estate information company Chandler Reports, can be reached at wendy@chandlerreports.com.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 51 328 20,960
MORTGAGES 58 387 24,132
FORECLOSURE NOTICES 6 54 3,101
BUILDING PERMITS 170 842 43,435
BANKRUPTCIES 50 288 13,468
BUSINESS LICENSES 34 90 6,712
UTILITY CONNECTIONS 16 110 7,899
MARRIAGE LICENSES 32 91 4,734