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Collierville new home sales continued to boom in 2017

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Bartlett and Collierville dwarfed cities like Arlington, Germantown and Lakeland with regards to new home sales in 2017.

The two municipalities combined for 278 new home sales last year, according to the Memphis Area Association of Realtors.

The media sales price for Collierville’s new houses came in at $478,686. Both municipalities also easily surpassed every Shelby County city not named Memphis in overall home sales.

At 1,236, sales in Collierville were up 2 percent by the end of 2017. The town had been trending up much of the year but saw sales decline by 21 percent in December, with 81 recorded in MAAR’s database.

Despite a slight decline in overall sales, Germantown saw exponential growth in new home sales last year.

The city had an 89 percent increase in the sale of new houses in 2017, according to data released last week by the Memphis Area Association of Realtors.

At $711,426, the median sales price for these houses was also up 22 percent compared to the previous year.

Overall, home sales sunk slightly in 2017, with 920 recorded in MAAR’s database. The city was on pace to exceed 2016’s sales through the fall. However, December saw a 23-percent decline in sales, with only 66 recorded.

With 1,315 sales, Bartlett experienced the most sales last year among the county’s suburban municipalities.

Germantown’s overall median sales price was $306,050 in 2017, behind Collierville’s price of $341,000.

Countywide, sales were up 6 percent by the end of the year. Although, new sales were down nearly 4 percent at 607.

“The market was pretty robust in 2017,” said 2018 MAAR President Lauren Wiuff. “Total sales, pricing, everything increased over the previous year.”

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