Local Housing Stats Are History In the Making

In Monday’s edition of The Daily News, I covered the Chandler Report’s Master Your Market quarterly seminar, in which local experts outlined the truth behind Shelby County’s market trends.

“I’ve got some agents in my office that are having great years, I’ve got some that are having not so great years,” said Hank Hogue, broker and vice president with Crye-Leike Realtors Inc. who spoke at the event. “But when you put everything together and look at the total MLS (Multiple Listing Service), that’s a reflection of what the market is.”

In 2010, the total number of residential MLS recorded sales were 13,353.

The last time that there was a year with only 13K sales was back in 1983 when Shelby County had 13,702 sales with an average sale price of $57,883.

It’s only a year prior to that Chandler Reports shows a number even close to the 10K range when there were 9,538 sales recorded with an average price of $54,127. That was the lowest number of sales recorded for a year that Chandler Reports has on record going back to 1968.

“A lot of us were hoping that 2010 was the bottom of the market but unfortunately we haven’t found the bottom yet,” Hogue said.