The View 38002 12-2019_December The View 38002 | Page 5
theview
December 2019
December Real Estate Update
By Jim Jones, Special to THE VIEW 38002
.com
Page 5
A Moment With the Mayor
By Shelby Sensat
Home
Sales
The Mem-
phis area as
well
as
across
Shelby
County continue to see
rising home sale prices
with average prices up
7% from average home
sale prices in October
2018.
There were 1,644
home sales recorded in
October, a 9% drop in
units sold from 1,796
sales recorded last Octo-
ber.
Home sales valued
over $300,000 were up
19% in October with 285
sales recorded compared
to 240 last year.
Home sales over $1M
were up 60% from last
year with 8 recorded for
the month compared to 5
in October 2018.
Through the first 10
months of 2019, the
number of home sales
recorded is down 1%
with 15,887 sales record
compared to 16,093 sales
recorded in the first 10
months of 2018. Aver-
age home sales prices are
up 4% and total home
sales are up 3% from the
same period of 2018.
Commercial Sales
Through the first 9
months of 2019 the num-
ber of commercial units
sold has remained rela-
tively steady with sales
down only 1%. Average
prices are up 4% from
the same period of 2018.
Residential Foreclo-
sure Analysis
Foreclosure activity
remained steady with 93
recorded for the month
and 93 recorded in Octo-
ber 2018 as well.
There were 201 fore-
closure notices published
in October, up 3% from
195 in October last year.
New Housing &
Builder Activity
New home sales
dropped 28% in October
with 57 recorded for the
month compared to 79
last year.
Despite the drop in
sales, average new home
sales prices jumped 16%
to $421,692 compared to
$362,247 in October
2018.
Lakeland/Arlington
area claimed the most
new home permits with
19 recorded averaging
$393,15,182.
Mortgage Trends &
Lending Analysis
Residential mortgages
filed at the time of sale
were down 10% in Octo-
ber with 967 loans rec-
orded for the month
compared to 1,070 rec-
orded in
October
2018.
Lakeland/Arlington
had the most residential
loans recorded at the
time of sale with 79
mortgages
averaging
$269,683.
Fayette & Tipton
County Market Trends
Fayette County home
sales were down 2% in
October with 89 home
sales recorded for the
month and 91 recorded
in October 2018. Aver-
age home sales prices
jumped 17% from last
year to $307,565. Oak-
land (38060) recorded
the most home sales for
the month with 49 total
averaging $241,650.
Tipton County home
sales were down 19%
from last year with 87
recorded for the month
compared to 107 record-
ed in October 2018. Av-
erage home sales prices
dropped
to
$177,935.
Atoka
(38004) recorded the
most home sales for the
month with 31 total aver-
aging $239,621.
This article is derived
from the Pulse offered by
Chandler Reports
After another election season you, the
people, have chosen! The town of Arlington
has re-elected Mayor Mike Wissman for his
third term as Arlington’s mayor. Mayor
Wissman says he feels “…very happy and
honored to be chosen to lead our great town
for another four years,” and goes on to
mention how, “Elections are never easy, and
it’s hard to find people willing to put
themselves out there for politics, so I tip my
hat to all the candidates.”
After two terms, Mayor Wissman has had
more than ample amount of time to dig deep
into the needs of the town of Arlington. “I
feel we are on a good path, so I don’t think
there is much need for change,” Wissman
says, “I will say there is always room for
improvement.” One of the things
that Mayor Wissman is amazingly
passionate about is Arlington’s park system.
“I’m always looking for park
opportunities!” Mayor Wissman points out
that “we have the youngest community in
the state” and with that “…we have to make
sure we have adequate facilities to offer
opportunities for our families to be active in
our community, and not have to go
elsewhere.” Mayor Wissman also notes that
this highlights the fact that “…our parks are
needs, not wants like some will say.”
Mayor Wissman is also very thrilled
about the Arlington Community Schools
system, as one should be after having a hand
in creating it. “I’m extremely proud of
Arlington Community Schools. I think we
all had expectations, but I honestly don’t
think we felt the high levels of success
would come this
soon.” Wissman
goes on to state
how he feels
Superintendent
Mason and the
school board “…
have us on the right path…” and how “…
our staff and our teachers are what put us on
top educational rankings in the state.”
Moving forward Mayor Wissman says that
“the town has to continue to support our
system on every level.” Mayor Wissman
says he also sees the possibility of needing
more land for a new elementary school in
the upcoming years. “The need is not
immediate, but proper planning and
placement will be key as we grow.” When
looking back over his past terms, Mayor
Wissman reflects on all the growth he has
witnessed in the town of Arlington. “Some
of the changes or improvements we’ve
made have been through many of the
departments. We are more proactive now.
Our Sewer, Parks, and Public Works
departments now have the tools and
resources to do preventative maintenance.”
Arlington can expect and look forward to
many big things to come, such as
Arlington’s second fire station. “We will
continue to focus on schools, parks,
infrastructure, and public safety… the rest
will happen naturally if the town is doing a
good job for our residents… I really feel this
is what makes Arlington so special because
we don’t have to do what others are doing…
We Are Arlington!”
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your marketing, contact Amber Griffith, Advertising Director, at
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