Memphis Area Home Sales Report July 2008
Sales, Inventory, and Pending Summary , y, g y
July 2008 Total Sales Median Sales Price Ave. Sales Price Ave. Days on Market 1,230 $132,000 $162,000 105.5 2007 1,495 $145,000 $188,000 97.1 % change -17.7% -9% -13.8% 8.7% Year to Date (January through July) 2008 8,331 $123,000 $153,000 107.8 2007 10,350 $140,000 $174,000 97.9 % change -19.5% -12.1% -12.1% 10.1%
Pending Sales (as of 08-15-08) Units Single Family Condo/Co-op Duplex Market Total 1,569 118 29 1,716 Ave. List Price $148,100 $412,900 $77,300 $165,100
Active Listings (as of 08-15-08) Units Single Family Condo/Co-op Duplex Market Total 11,602 615 231 12,448 Ave. List Price $223,400 $232,700 $79,800 $221,200
Time on Market (July) # Units 1-30 days 326
Types of Financing (July) # Units FHA VA Conventional Cash Owner Financed Other 317 46 503 296 6 61
31-60 days 61-90 days 91-120 days More than 120 days Ave. Days on Market
198 173 147 357 105.5
Monthly Sales Comparison
2,000 1,800 1,600 1,400 1 400 1,200 1,000 800 600 400 200 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2006 2007 2008
Units Sold
Memphis Area Home Sales Report July 2008
Sales/Inventory Detail
ACTIVE LISTINGS S/FAM Condo/ Units Duplex Co-Op 393 22 8 264 17 9 268 28 18 390 20 15 453 24 20 440 17 17 430 21 15 438 13 17 431 11 11 748 20 32 876 18 48 740 5 42 719 2 52 625 3 38 1,166 1 166 4 88 894 1 82 967 3 47 502 1 14 476 0 28 208 1 6 174 0 8 11,602 $223,000 $160,000 $160 000 231 $80,000 $64,000 $64 000 615 $233,000 $185,000 $185 000 0-2 Bdrms 32 15 6 9 5 4 4 3 2 10 6 4 4 1 1 0 1 1 0 0 0 108 $64,000 $40,000 $40 000 3 Bdrms 64 28 38 35 30 28 39 21 26 47 70 72 37 23 41 12 10 1 1 1 0 624 $109,000 $100,000 $100 000 SOLD 4+ Bdrms 18 8 1 8 7 4 4 1 6 10 19 21 26 31 81 69 51 28 29 7 5 434 $267,000 $229,000 $229 000 Condo/ Co-Op 1 0 1 1 4 3 1 3 2 5 4 5 6 2 2 5 2 0 2 0 0 49 $163,000 $140,000 $140 000 Total Month Total YTD 120 828 51 371 48 381 55 346 47 336 40 351 49 327 28 297 38 290 72 541 100 657 102 604 73 516 57 391 125 711 86 479 64 470 30 221 32 153 8 37 5 24 1,230 $162,000 $132,000 $132 000 8,331 $153,000 $123,000 $123 000
TYPE/Price Class $ 19,999 or under $ 20,000 - 29,999 $ 30,000 - 39,999 $ 40,000 - 49,999 $ 50 000 - 59 999 50,000 59,999 $ 60,000 - 69,999 $ 70,000 - 79,999 $ 80,000 - 89,999 $ 90,000 - 99,999 $100,000 - 119,999 $120,000 - 139,999 $140,000 - 159,999 $160,000 - 179,999 $180,000 - 199,999 $200,000 249,999 $200 000 - 249 999 $250,000 - 299,999 $300,000 - 399,999 $400,000 - 499,999 $500,000 - 749,999 $750,000 - 999,999 $1,000,000 or over Total Types Average List/Sales Price Median List/Sales Price
Duplexes 5 0 2 2 1 1 1 0 2 0 1 0 0 0 0 0 0 0 0 0 0 15 $48,000 $41,000 $41 000
Active Listings: Trend and 24-month Totals
Aug-06 Sep-06 Oct-06 10,962 11,178 11,166 10,910 10,767 11,190 11,562 12,396 12,764 12,905 13,089 13 089 13,432 13,387 13,227 13,147 12,547 11,986 12,113 12,320 12,532 12,641 12,509 12,448
Active Listings
14,000 13,000 12,000 11,000 10,000 9,000 8,000 7,000 6,000 5,000
Nov 07 April 08 Aug 07 Jan 08 May 08 Feb 08 June 08 Sept 07 July 07 March 08 July 08 Dec 07 Oct 07
Nov-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jun 07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan 08 Jan-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08
Memphis Area Home Sales Report July 2008
Area Detail – Current Month and Year to Date
July 2008 Total Sales
Fray yser
Year to Date % change -54.5% -28.6%
-25.7% 37.9% -12.5% -25.5% -26.9% 6.9% -33.3% 33 3% 7.1% 10.6% 72.1% -16.3% -15.9% -17.1% 7.5% 7 5% -50.0% -66.7% -41.4% -30.5% -20.2% -14.3% -18.1% 18 1% 2.7% -18.5% -56.3% -46.3% -15.0% -20.6% -40.4% 40 4% -34.7% -17.7% -24.1% -0.7% -4.4% 0.4%
July
Year to Date % change -40.3% -12.3% -10.3% 35.6% -2.8% 10.8% 5.6% 17.1% -27.3% 8.2% 9.5% 43.6% -29.4% -25.6% -23.7% -6.6% 6.6% -10.0% -10.8% -10.6% 12.3% -31.3% -49.6% -43.3% 43 3% 29.5% -25.0% -9.8% -8.4% 8.2% -27.3% -2.2% 2 2% -16.7% 26.7% -14.6% -11.3% -7.4% 13.6% 2008 437 $181,000 $191,000 111.2 330 $289,000 $353,000 92.1 482 $310,000 $330,000 104.4 139 $258,000 $283,000 125.4 136 $234,000 $241,000 115.8 74 $110,000 $128,000 $128 000 111.4 6,787 $120,000 $153,000 104 277 $190,000 $190 000 $229,000 155 390 $145,000 $149,000 116.2 2007 606 $196,000 $207,000 102.5 442 $280,000 $367,000 82.4 663 $318,000 $343,000 90.3 209 $267,000 $308,000 82.9 267 $239,000 $250,000 93.2 104 $125,000 $138,000 $138 000 95 8,709 $140,000 $175,000 92.8 394 $198,000 $198 000 $232,000 124.2 512 $144,000 $153,000 125 % change -27.9% -7.7% -7.7% 8.5% -25.3% 3.2% -3.8% 11.8% -27.3% -2.5% -3.8% 15.6% -33.5% -3.4% -8.1% 51.3% -49.1% -2.1% -3.6% 24.2% -28.8% -12.0% -7.2% 7 2% 17.3% -22.1% -14.3% -12.6% 12.1% -29.7% -4.0% 4 0% -1.3% 24.8% -23.8% 0.7% -2.6% -7.0%
2007 44 $28,000
$35,000 81 56 $106,000 $108,000 86.8 48 8 $198,000 $180,000 90.6 104 $151,000 $181,000 80.5 80 5 40 $24,000 $29,000 114.6 178 $133,000 $193,000 $193 000 92 65 $64,000 $80,000 87.3 68 $94,000 $94 000 $101,000 109.2 145 $143,000 $159,000 99.1
2008 219 $22,000
$26,000 104 329 $77,000 $81,000 108.2 251 5 $200,000 $207,000 132.7 562 $121,000 $135,000 98 190 $10,000 $18,000 99.2 940 $125,000 $175,000 $175 000 92.4 356 $40,000 $56,000 105.8 372 $62,000 $62 000 $73,000 100.2 822 $138,000 $149,000 113.2
2007 253 $31,000
$39,000 95.9 375 $102,000 $106,000 91.1 33 334 $187,000 $185,000 100.6 653 $137,000 $159,000 83 245 $18,000 $29,000 91.7 1,221 $130,000 $179,000 $179 000 85.1 383 $75,000 $86,000 91.4 465 $96,000 $96 000 $102,000 96.6 1,066 $150,000 $163,000 94.8
% change -13.4%
Bart tlett Total Sales Median Sales Price Ave. Sales Price Ave. Days on Market Germantown Total Sales Median Sales Price Ave. Sales Price Ave. Days on Market Total Sales Median Sales Price Ave. Sales Price Ave. Days on Market Total Sales Median Sales Price Ave. Sales Price Ave. Days on Market Total Sales Median Sales Price Ave. Sales Price Ave. Days on Market Total Sales Median Sales Price Ave. Ave Sales Price Ave. Days on Market Total Sales Shelby County Median Sales Price Ave. Sales Price Ave. Days on Market Total Sales Fayett te Count ty Median Sales Price M di S l P i Ave. Sales Price Ave. Days on Market Total Sales Tipton County Median Sales Price Ave. Sales Price Ave. Days on Market
2008 71 $185,000 $192,000 119.2 70 $318,000 $376,000 86.4 80 $315,000 $358,000 113.9 24 $195,000 $225,000 83.3 27 $215,000 $220,000 110.8 11 $58,000 $85,000 $85 000 129.8 988 $129,000 $164,000 98.1 40 $218,000 $218 000 $225,000 219.4 70 $141,000 $151,000 113.8
2007 119 $211,000 $214,000 87.9 72 $287,000 $356,000 73.8 110 $291,000 $327,000 79.3 34 $262,000 $295,000 89.2 30 $241,000 $246,000 98.7 16 $115,000 $150,000 $150 000 100.2 1,317 $143,000 $179,000 90.7 55 $223,000 $223 000 $270,000 173.1 82 $159,000 $163,000 100.2
20 $20,000
$26,000 111.7 49 $79,000 $79,000 92.8 3 32 $212,000 $199,000 155.9 87 $127,000 $150,000 86.5 86 5 20 $8,000 $17,000 79.6 142 $114,000 $158,000 $158 000 94.5 53 $28,000 $43,000 74.2 54 $56,000 $56 000 $66,000 89.9 110 $142,000 $152,000 99.5
Median Sales Price
Ave. Sales Price Ave. Days on Market Total Sales Median Sales Price Ave. Sales Price Ave. Days on Market Total Sales ota Sa es Median Sales Price Ave. Sales Price Ave. Days on Market Total Sales Median Sales Price Ave. Sales Price Ave. Ave Days on Market Total Sales Median Sales Price Ave. Sales Price Ave. Days on Market Total Sales Median Sales Price Ave. Ave Sales Price Ave. Days on Market Total Sales Median Sales Price Ave. Sales Price Ave. Days on Market Total Sales Median Sales P i M di S l Price Ave. Sales Price Ave. Days on Market Total Sales Median Sales Price Ave. Sales Price Ave. Days on Market
-29.0%
-33.3% 8.4% -12.3% -24.5% -23.6% 18.8% -24.9% 9% 7.0% 11.9% 31.9% -13.9% -11.7% -15.1% 18.1% 18 1% -22.4% -44.4% -37.9% 8.2% -23.0% -3.8% -2.2% 2 2% 8.6% -7.0% -46.7% -34.9% 15.8% -20.0% -35.4% 35 4% -28.4% 3.7% -22.9% -8.0% -8.6% 19.4%
Raleigh/ Cov. Pike
Downtown n
S. Memphis
E. Memphis
Cordova
Hickory Hill H
Whitehaven/ Airport
Mill lington
Arlington
Lakeland
Midtown
Collierville e