December Real Estate Update

Home Sales

Shelby County home sale activity fell 3% this December with 1,042 home sales recorded compared to 1,079 home sales recorded in December 2024.

Average home sale prices rose 14% for the month with an average price of $265,452 compared to December 2024's average home sale price of $232,794.

New home sales accounted for 6% of the sales for December with an average price of $528,045, down 8% in price compared to last December.

Existing homes sales accounted for 94% of the sales for the month with an average price of $249,691, up 16% from December 2024's average price.

The total sales volume for the county was $277 million for the month compared to $251 million in total sales volume last December.

The median sales price was $205,000.

23% of home sales recorded in December were valued under $100,000.

Home sales valued over $300,000 were up 26% in December with 344 sales recorded compared to 272 last year.

There were 18 home sales over $1M for the month and 11 last December.

Year-to-date, the number of home sales recorded is down 6%, average sale prices are up 4% and the total sales volume is down 2% compared to the same time period in 2024.



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Commercial Sales (November)

Commercial sales activity was up 6% this November with 71 sales recorded for the month totaling $102M compared to 67 sales recorded in November 2024 totaling $128M.

The largest commercial transaction recorded in November was the sale of the Quince Nursing and Rehab Center at 6733 Quince Road (38119). The 66,327sqft property built in 1981 sits on 4.9 acres and transferred for $23.3M on November 14h to Quince SNF Property Holdings, LLC from Quince Property Company, LLC

Click here to download our latest Commercial Market Conditions reports.

Residential Foreclosure Analysis

Foreclosure activity was up 32% this December with 41 foreclosures recorded for the month compared to 31 recorded in December 2024.

On the properties foreclosed this December, the average foreclosure amount was $140,795.

The City of Memphis recorded the most foreclosures for the month with 31 total averaging $118,382.

Foreclosure notices for December jumped 63% with 143 notices published compared to 88 notices published in December 2024. 

Click here to download our Detailed Foreclosure Analysis reports. 

Mortgage Trends & Lending Analysis

Residential mortgages filed at the time of sale were 1% this December with 673 loans recorded for the month compared to 667 recorded in December 2024.

The average mortgage amount was $266,319 with an average sales price of $296,193 making the average loan to value ratio 90%.

The Arlington/Lakeland area (38002) had the most residential loans recorded at the time of sale with 45 mortgages averaging $407,964.

The top lenders for December based on the total number of residential mortgages filed at the time of sale were Community Mortgage Corp with 48 loans, Pinnacle Bank with 32 loans and Guaranteed Rate Inc. with 29 loans.

Click here to download our Residential Lender Analysis reports.

Fayette & Tipton County Market Trends

Fayette County home sale activity was up 24% this December with 77 homes sales recorded for the month and 62 sales recorded in December 2024. Average home sale prices were up 7% with an average price of $395,865 this December.

Oakland (38060) recorded the most home sales for the month with 44 total averaging $357,946.

Year-to-date, the number of home sales recorded is down 4% and average sale prices are up 2% compared to the same time period in 2024.

Tipton County home sales were up 19% with 63 sales recorded for the month compared to 53 recorded in December 2024. Average home sale prices were down 9% for the month with an average price of $255,729.

The Atoka area (38004) recorded the most home sales for the month with 13 sales averaging $319,262.

Year-to-date, the number of home sales recorded is down 1% and average sale prices are up 3% compared to the same time period in 2024.

Click here to download our West TN market trend reports.