For Sale www.1573Vance.com - Midtown
The Memphis Area Association of Realtors (MAAR) has released sales information for December and year-end, 2011. The report contains complete information on all publicly recorded sales in Shelby, Fayette and Tipton counties, including information on pending sales and active listings.
Sales
December, 2011 and year end sales summary
Residential unit sales were off 10% in December vs. 2010, and year-end totals lagged 2010 by 8.4% . Both median and average sales trended down in 2011, as the market desperately sought price stability, and home buyers remained cautious.
Foreclosures
Foreclosures down in 2011, but what will 2012 bring?
While foreclosures ruined more Christmases in 2011, with a December increase of 67%, foreclosures for 2011 were down by over 15% at 4,113. There seems to be a lot of politics going on in the foreclosure arena. Time will tell.
If you haven’t downloaded the sales report (link at end of post), you are missing a lot of real estate information on listings, pending sales, and inventory. This would be a good one to file away since it is the end-of-year report.
One more interesting feature is the neighborhood reports.
Midtown and Downtown Sales
Two of my specialty areas showed declines in Unit sales but increases in median and average prices, showing once again that all real estate is local – micro- local! Download the report to see how your neighborhood is doing.
Note: In the next day or so I will be posting my Memphis Real Estate predictions for 2012 – Stay Tuned!
- Thank You, Essential Workers - September 7, 2020
- Mid-Century Modern for sale – 346 Waring, Memphis, TN - July 9, 2013
- RE Buzz – Real Estate News Roundup – July 9, 2013 - July 9, 2013
What do you think? Leave your comments.