Shelby County suburban home sales down in 2023
Home sales are down for the third straight year. But with interest rates on the decline, some are hopeful the market stabilizes in 2024.
Topic: residential real estate
RSSThere are 32 article(s) tagged residential real estate:
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January 2024
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September 2023
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It’s still a seller’s housing market, but buyers aren’t completely shut out
Local residential real estate brokers say homebuyers should not focus on interest rates but instead focus on the benefits of homeownership.
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January 2023
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Suburban home sales dip in 2022 as market stabilizes
Suburban home sales dipped in 2022, and new home sales remained low compared to the previous year.
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July 2022
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Bucking national trends, affordable housing in Memphis is a problem of quality, not quantity
Even as housing prices are rising substantially in some parts of the area, the value of housing in other areas has been stagnant or even falling.
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March 2022
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February home prices up over a year ago
The Memphis area saw a 15.5% increase in average sales price last month compared to a year ago, and Whitehaven’s increase was 80%.
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February 2022
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Increasing home sales add to suburbs’ growth
Most suburbs saw more homes sell than the year prior. The seller’s market and low inventory continue to drive prices upward.
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June 2021
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Memphis-area housing market hits ‘go-mode,’ sales rise 42%
The number of homes sold in Shelby, Tipton and Fayette counties last month rose 42% from May 2020. While prices continued rising, so did the number of homes on the market.
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May 2021
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Solar-powered Cordova house charges onto the market
The four-bedroom, 2.5-bath house on a quiet Cordova cove not only features a substantial new solar array, but a high-tech home battery designed to keep the power during neighborhood power outages.
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For sale: A midcentury modern time capsule
It’s not just the simple lines and large, aluminum-framed windows that make this East Memphis home a midcentury modern jewel.
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Number of available homes rises 2.9% in April
The number of Memphis-area homes sold in April 2021 rose 25.9% compared to April 2020, local Realtors report.
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Chickasaw Gardens duplex hits the market for $1.2 million
About $4,000 is the projected, monthly rent for each of the two units. But the apartments – if that’s how a buyer uses them – are more than 3,000 square feet each, have luxury finishes, and are nestled in one of the city’s leafiest neighborhoods.
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April 2021
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Number of houses for sale rises, but by less than 1%
The number of home sales rose 45% from February and nearly 13% from a year ago. But the stat that affects more people the most – the inventory of homes available for sale – remained low at 1,990.
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March 2021
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Dispatches from the home front: Buyers battle for houses
Two extreme lows have turned Memphis into a battleground for would-be homebuyers: Low mortgage interest rates that make borrowing so attractive, and a low number of “For Sale” signs that make finding and grabbing a house so difficult. Experts share their advice.
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Real estate prodigy: Buy, renovate, sell, rent, repeat
Cameron Ellis is just 27 years old, but his real estate business called WeOffr buys and renovates about 100 houses a year in Memphis and 20 to 40 annually in Nashville. Plus, Ellis is rapidly buying and renovating multifamily properties in the core city.
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February 2021
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Divvy expands rent-to-own business, seeks Memphis Realtors
Divvy Homes in Shelby County so far has purchased between 40 and 100 homes that were chosen by renters who plan to buy them within three years.
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Confidence pays off for president of Memphis Area Association of Realtors
Cassandra Bell-Warren credits her mother and grandmother for the self-confidence and curiosity that has helped her experience the world she never saw from her childhood home in South Memphis.
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January 2021
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Builders collaborate for new neighborhood in Porter Farms
The residential market in Collierville remains strong and homes are in all stages of construction at Porter Farms, where several builders have worked together for designs that complement each other.
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Germantown, Collierville see strong gains in 2020 home sales despite pandemic
Suburban real estate remained strong in the pandemic as prices increased in the seller’s market. Germantown and Collierville saw a large increase in the percentage of homes sold.
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December 2020
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Prices rise, sales increase for Memphis-area homes
The average price of a house sold in Shelby, Fayette and Tipton counties during November was $217,080, up 10.7% from a year earlier. But the number of houses for sale continues to shrink.
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November 2020
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Sales rise, prices soar for Memphis-area houses
Neither COVID-19 nor the shrinking number of houses on the market prevented home sales in the Memphis area from rising 6.4% in October.
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October 2020
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Is COVID boosting home sales?
The pandemic, combined with low interest rates, may be fueling home sales. At least among those who have job security.
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August 2020
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Memphis-area home sales rise a ‘pretty remarkable’ 1.9% in July
Following the early shock of COVID-19, the positive July sales reflect acceptance of a "new normal'' in the local real estate market, one Realtor believes.
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April 2020
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Safe houses: Real estate agents adapt to COVID-19
The real estate industry is deemed an essential business and is still operating during the pandemic. But agents are taking such safety precautions as hosting live, virtual open houses and arranging drive-by closings.
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March 2020
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Real estate work goes on despite distancing
Realtors say they intend to tell potential homebuyers to remain in their cars if too many of them show up to open houses at the same time.
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Home prices rise, ‘For Sale’ signs fade
The number of February home sales in the Memphis area rose 3 percent from February 2019, but the number of houses for sale – already persistently low for years – fell another 13.5 percent from a year ago, according to the Memphis Area Association of Realtors.
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