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New homes sales up in 2017

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New home sales in Germantown have finally trended up this year.

The city has seen an over 100-percent jump in the sale of new homes through November, according to reports from the Memphis Area Association of Realtors.

The median sales price for new homes in Germantown is a whopping $709,483, which is up 23 percent from last year and is by far the highest in Shelby County.

Overall sales are also up, with 854 recorded through November. Sales were slightly down last month at 67.

Among Shelby County’s suburban municipalities, neighboring Bartlett has seen the most sales through November, with 1,216 recorded.

The town also has the highest overall median sales price at $340,000. Germantown’s overall median sales price is $305,000 through 11 months.

New home sales have been down in Germantown for the past few years. Last year, 18 new homes were sold, which was a 30-percent drop from the previous year when 24 sales were recorded. However, 2015 was also a 40-percent drop from 2014.

The last time new sales were up in Germantown was 2012, when they were up 17-percent from the previous year.

The sale of new homes is also up 4 percent in Cordova. Sales are down in Arlington, Bartlett and Lakeland through 11 months.

In related news:

With 2017 coming to a close, Collierville has seen the second most home sales among Shelby County’s suburban municipalities.

Through 11 months, the town has 1,155 sales, which exceeds every municipality but Bartlett (1,216).

According data from the Memphis Area Association of Realtors, Collierville saw a strong November that included 91 overall sales and 15 news sales.

At $367,500, the town also had the highest median sales price in the county, with Germantown coming in second at $305,000.

Although data isn’t yet available for December, Collierville is on pace to exceed year-to-date sales numbers of 2016 (1,197) and 2015 (1,193).

New home sales are also up 6 percent in 2017, with 123 recorded through November.

Only Bartlett has more new home sales among suburban municipalities (126). Cordova is close with 121. County wide, new sales are solid at 547.