The market effects on Halle Plantation in Collierville

I have been stating that the Memphis area real estate market has picked up in the last few months and appears to have a decent amount of steam behind it. Well, let's take a look at a favorite subdivision of mine located in Collierville called Halle Plantation. The Collierville real estate market is different than the Memphis market, but still will show similar signs in some respects.

Currently there are 23 active listings in Halle Plantation ranging from $325,000 to $645,000 and 2600 square feet to over 5,000. There have been only five closings registered in the Memphis MLS since February 15th, 2007, but that may be mis-leading.

As I said before, the market picked up just a few months ago (meaning around eight weeks ago) The average days on market in the area is around 87 days. So we really haven't had time to allow the closings to occur to prove our point.

However, let's take a look at a statistic that helps to demonstrate that the market is alive and kicking with energy and enthusiasm. There are currently ten Pending listings in the MLS. That is great. One - that means buyers are out writing contract offers on the properties they want to purchase and Two- there are just at a six month inventory of available homes in the Halle Plantation subdivision; which is NOT an over inventory time frame.

Halle Plantation is less likely to be affected as hard as some other areas in concerns to the sub-prime market. That and the economy (at least the DOW Jones) is picking up, inflation is at bay, unemployment hasn't done anything outrageous, and interest rates are still as low as ever - all equate to favorable conditions.

We will analyze other areas from around the Memphis area to see how different areas are fairing the real estate market at this time.

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