Memphis Real Estate Buzz » realtor

Memphis area residential real estate sales – September, 2011

Joe Spake — Tue, 11 Oct 2011 13:14:29 +0000

September 2011 Total Sales

The Memphis Area Association of Realtors (MAAR) reports that September residential real estate sales in Shelby, Fayette, and Tipton Counties increased slightly over 2010, based on data compiled from deeds recorded in those counties. Total units sold increased increased by 19 units or 1.8%. There was a 2.7% increase in median sales price, while average sales price dropped by 4.4% . Year-to-Date totals show a 11.7% decrease in sold units from 2010, with both median and average sales prices dropping.

The report is loaded with interesting information about about sales and inventory. Foreclosure auctions are down, as are bank sales. The resultant increase in “normal” sales indicates a strengthening market, despite the constant market corrections in prices.

New home sales saw a big drop – 43 units vs. 69 units in 2010, with a YTD drop of 34.1%

September 2011 New Home Sales Comparison

I always stress that real estate is a Micro thing. The area reports section proves this by breaking down sales statistics by area, so you can see how your neighborhood fits into the big picture.

Download the full September report Here

If you have real estate questions, contact me either through the contact form on the site or directly.

Related articles

Memphis area residential sales reports – August 2011 (memphisrealestatebuzz.com)

Joe Spake is a Memphis, Tennessee based Consultant, Real Estate Broker, and Blogger. Call 901.214.5563 for a consultation or click to make a social connection.
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Memphis area real estate sales – February 2011

Joe Spake — Mon, 21 Mar 2011 11:52:20 +0000

The Memphis Area Association of Realtors® (MAAR) has released data for recorded residential sales in the month of February and YTD. February unit sales showed a 11.8% drop from 2011, and 7.6% lag year to date. Median and average sale prices rose significantly in February, and both show a YTD increase. Reviewing the full monthly report, it’s interesting to note that Bank Sales dropped by 28.8% for the month and have dropped by 24.4% YTD. Those numbers probably have direct impact on the sales price increases. Also, foreclosure auctions have dropped by 18.9% for February and 26.0% YTD.

Activity in the suburbs

With negative unit sales figures in most areas of MAAR’s coverage, there are notable increases in sales in the suburbs, Cordova, Bartlett, Gemantown, Collierville, Arlington, and Millington (up 83.3% for the year), both for February and YTD.

Download the full MAAR report here.

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Another catchy ad from the Canadian REALTORS

Joe Spake — Sun, 26 Sep 2010 22:27:13 +0000

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It’s Official – this is Open House Weekend

Joe Spake — Sat, 10 Apr 2010 17:34:51 +0000

Come on out for theÂ official Open House Weekend, promoted by the National Association of REALTORSÂ® and the Memphis Association.Â Â Of course, this is a last ditch effort to wring out the last of the buyers who may be eligible for the $8000 first-time home buyer tax credit (up to $6500 credit for those who have owned a home before and qualify).Â Not a bad thing, but worthy of disclosing.Â To get the credit you must have a property under contract by April 30 and have it closed by June 30, 2010.Â Â Â NAR and the local association’s promotion of this event is some free PR for the 2 listings I will be holding open on Sunday;Â even though the association is giving me up to 5 free balloons for each listing, I still have to pay for the ad in the CA. Since there will be an inordinate number of Open HousesÂ this week end (1200+), you will probably get the chance to explore a neighbor’s home that you otherwise wouldn’t be welcomed into.

Or maybe you are seriously looking to buy a home, whether or not you are taking advantage of the tax credit.Â It’s a good chance to see a number of properties without having to engage the services of a pesky buyer’s agent.Â Open house tip for potential home buyers:Â That friendly agent who greets you at the open house, shoves a card in your hand, and tries so hard to get your contact information works for the home seller.

Whatever your motivation, I would love to meet you at one of my open houses on Sunday (April 11):

1990 Manila (2 BR / 1 BA) $99,999Â from 1-2:15

and

1887 York (2BR /2 BA + nice studio space) $159,900Â from 3-5

Come by and meet me and check them out.

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New Listing – Cute Cooper-Young Cottage

Joe Spake — Tue, 27 Oct 2009 17:44:51 +0000

Check out 1990 Manila – Cooper Young, Memphis, TN 38114

Click the “Details” button or contact me for more information.

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