Estes & Associates Appraisal Services

03/18/2026

If you’re looking to sell your property for any reason, please give me a call first.

04/22/2025

We have been busy that last several weeks completing private appraisals so that homeowners can appeal their 2025 Shelby County Tax assessments.

Most are over 30% too high!!

Please call or contact us to schedule an appointment. 901-767-1990

07/23/2024

Just Listed! This beautiful home is located in The Vineyards, an exclusive Germantown Gated subdivision.

Custom Built Amazing Home - 4 Bedroom ,4 .5 Bath , 3-Fireplaces , 3-Car Garage! Primary Bedroom w/Fp, all bedrooms have ensuite baths, 2nd Bedroom/office downstairs.
$745,000

Please call/ DM me for a Private showing and more details. Click on the below link to view all pictures of this stunning home.

https://p110.paragonrels.com/inferno/goto/1/Z7zTXeyVu9H

07/23/2024

Just Listed! Located in The Vineyards, an exclusive Germantown Gated subdivision. Please call/ DM me for a Private showing and more details.

03/15/2021

2021 Shelby County Tax Assessments have been mailed this past week. If you disagree with your value and believe you have been over appraised by the Tax Assessor, please contact us to a schedule an appointment for an appraisal to appeal your taxes. 901-767-1990

06/04/2020

Real Estate Update: May 2020


Chandler Reports, a division of The Daily News and the most trusted source in real estate, releases the latest installment of the "Pulse Report", a publication to keep you informed of local market trends for Memphis and Shelby County.


Home Sales

Shelby County home sale activity fell 21% in May with 1,294 home sales recorded compared to 1,628 home sales recorded in May 2019.

Despite slower home sale activity over the past two months, home sale prices continue to rise. Average home sale prices were up 5% in May to $194,619 compared to last year's average home sale prices of $185,733.

The total sales volume for the county dropped 17% to $252 million in May compared to last May with a total sales volume of $302 million.

The median sales price was $160,000, up 10% from last year.

35% of home sales recorded in May were valued under $100,000.

Home sales valued over $300,000 were down 4% in May with 272 sales recorded compared to 282 last year.

There were 4 home sales over $1M for the month compared to 6 sales over $1M recorded in April 2019.

Through the first five months of the year, the number of home sales recorded is down 7% and average sale prices are up 11% compared to the same time period in 2019.



Commercial Sales

Commercial sales for April fell 31% with 65 sales recorded for the month totaling $131M compared to 94 sales recorded in April 2019
totaling $112M.

Property Type # Sales-04/20 # Sales-04/19 % Change
Industrial 11 8 +38%
Vacant Land 9 25 -64%
Multi-Family 11 11 0%
Office 12 12 0%
Retail 14 8 75%

The largest commercial transaction recorded in April was the $19M sale of a trucking company and warehouse located at 5707 East Holmes Road in Zip Code 38141. The sale was a combination of 3 parcels containing 111 acres along with a 27,982 square foot warehouse transferred on April 30th to SFG NL IMC Landlord Memphis from Mark H. George Trust and Melinda M. George Trust.



Residential Foreclosure Analysis

With the current foreclosure moratorium still in place, foreclosure activity fell 88% in May with 11 foreclosures recorded for the month compared to 88 recorded in May 2019.

Of the properties foreclosed, the average foreclosure amount was $60,609 and the average tax appraisal value for the properties was $76,182.

The City of Memphis recorded the most foreclosures for the month with 9 total averaging $63,566.

There were 26 foreclosure notices published in May, down 77% from 114 notices in May 2019.



New Housing & Builder Activity

New home sales were down 18% in May with 45 sales recorded for the month compared to 55 sales last May.

Average new home sales prices rose 7% for the month to $426,856 compared to $397,782 in May 2019.

New home starts for April 2020 fell to 63 permits filed for the month averaging $378,447 compared to 77 filed in April 2019 averaging $314,904.

The Collierville area (38017) claimed the most new home permits with 34 recorded averaging $454,655.

The top builder was Regency Homes with 16 new home permits recorded for the month.


Mortgage Trends & Lending Analysis

Residential mortgages filed at the time of sale were down 20% in May with 872 loans recorded for the month compared to 1,089 recorded in May 2019.

The average mortgage amount was $214,987, with an average sales price of $240,393, making the average loan to value ratio 89%.

The Lakeland/Arlington area (38002) had the most residential loans recorded at the time of sale with 68 mortgages averaging $307,703.

The top lenders for May based on the total number of residential
mortgages filed at the time of sale were Community Mortgage Corp. with 68 loans, Pinnacle Bank with 68 loans as well and BancorpSouth Bank with 33 loans.



Fayette & Tipton County Market Trends

Fayette County home sales activity was down 10% in May with 82 home sales recorded for the month compared to 91 recorded in May 2019. However, average home sales prices were up 8% from last year to $276,282. Oakland (38060) recorded the most home sales for the month with 34 total averaging $254,632.

Through the first five months of the year, the number of home sales recorded in Fayette County is up 18% and average sale prices are down 5% compared to the same time period in 2019.

Tipton County home sales fell 32% in May with 71 sales recorded for the month compared to 105 recorded in May 2019. Average home sales prices were up 13% for the month to $194,312. The Atoka area (38004) recorded the most home sales for the month with 18 sales averaging $280,130.

Through the first five months of the year, the number of home sales recorded in Tipton County is up 8% and average sale prices are up 6% compared to the same time period in 2019.

12/19/2019

Can’t wait to see what Boyle does with this! Good things ahead!

Boyle Investment Co. applies for two construction permits totaling $1.5 million to renovate and rebuild the Williamsburg Village Shopping Center.

11/03/2019

Proud to be a Memphian.... You did Good!

Calkins: Tigers v SMU

10/09/2019

Due to the rising cost of land development and a shortage of qualified workers, fewer homes are being built. And it's led to a decline in new home sales.

05/03/2019

April Real Estate Update

Home Sales
Stable is the best way to describe the current housing market in Memphis and Shelby County.

While the limited number of homes available on the market remains historically low, the number of units sold and average home sales prices have leveled out and are consistent with last year's figures.

There were 1,639 home sales recorded in April totaling $277 million, a 1% drop in units sold from 1,663 sales recorded last April totaling $281 million, resulting in a 1% decrease in total sales.

The average home sales price for the month was $169,077 virtually unchanged from $168,786 in April 2018.

Through the first four months of 2019, the number of home sales recorded are up 2%, average home sales prices are virtually the same, and total home sales are up 2% from the same period of 2018.

Investor purchases accounted for 40% of home sales for the month with an average sales price of $85,557.

55% of home sales recorded in April were valued under $149,999.

Home sales valued over $300,000 were down 1% in April with 243 sales recorded compared to 246 last year.


Commercial Sales

Total commercial sales in the first quarter of 2019 were up 13% from Q1 2018.

There were 219 sales recorded for the quarter averaging $1.5M compared to 230 sales recorded in the first quarter of 2018 averaging $1.3M resulting in a 19% increase in average sales price.

Sales of churches and schools were up 233% from last year with 10 recorded for the quarter averaging $274,781 compared to 3 recorded in Q1 2018 averaging $648,333.


Property Type Q1/19 Q1/18 % Change
Industrial 39 40 -3%
Vacant Land 54 59 -8%
Multi-Family 19 30 -37%
Office 26 24 8%
Retail 43 39 10%

The largest commercial transaction recorded in March was the sale of The Madison at Schilling Farms located at 160 Madison Farms in Collierville . The 324-unit complex sold for $46.7 million on March 1, 2019. Schilling Farms Sabina LLC purchased the property from Spyglass Collierville LLC.


Residential Foreclosure Analysis

Foreclosures show no signs of increasing with 83 recorded for the month, a 34% decrease from 125 recorded in April 2018.

Of the properties foreclosed, the average foreclosure amount was $77,128 and the average tax appraisal value for the properties was $93,848.

Westwood (38109) had the most homes in foreclosure inventory at the end of the month with 136 properties valued at $5 million.

Southeast Shelby County (38125) had the highest foreclosure inventory value of $14 million across 87 properties.

Fannie Mae ended the month with the most homes in foreclosure inventory with 123 valued at $10 million. US Bank holds 101 properties valued at $10 million.



New Housing & Builder Activity

New home sales were down 22% in April with 61 recorded for the month compared to 78 last year.

Average new home sales prices fell 1% to $390,290 compared to $394,867 in March 2018.

New home starts were down 15% in Q1 2019 with 177 permits filed for the quarter averaging $350,831 compared to 209 filed in Q1 2018 averaging $307,143.

Collierville claimed the most new home permits in the first quarter with 49 recorded averaging $472,901.

Regency Homebuilders was the top builder for new home starts and new home sales in Q1 with 28 permits recorded averaging $248,268 and 50 new home sales averaging $381,297.


Mortgage Trends & Lending Analysis

Residential mortgages filed at the time of sale were down 2% in April with 1,015 loans recorded for the month compared to 1,041 recorded April 2018.

The average mortgage amount was $189,060, with an average sales price of $215,888, making the average loan to value ratio 88%.

Collierville had the most residential loans recorded at the time of sale with 88 mortgages averaging $392,714.

The top lenders in April based on the total number of residential mortgages filed at the time of sale were Pinnacle Bank with 71 loans, Community Mortgage Corp. with 61 loans and IberiaBank with 45 loans.

Loans from private lenders were down 7% from last year with 39 recorded for the month averaging $82,855.


Fayette & Tipton County Market Trends

Fayette County home sales were down 2% in April with 65 home sales recorded for the month compared to 66 recorded in April 2018. Average home sales prices were up 2% from last year to $270,163. Oakland (38060) recorded the most home sales for the month with 34 total averaging $242,845.

Tipton County home sales were unchanged from last year with 74 recorded for the month compared to 74 recorded in April 2018. Average home sales prices were up 1% to $170,366 compared to $168,934 last year. Covington (38019) recorded the most home sales for the month with 18 total averaging $105,215.

04/03/2019

March Real Estate Update

Home Sales

Home sales in Memphis and Shelby County were up slightly in March while average home sales prices leveled out.

There were 1,469 sales recorded for the month totaling $241 million, a 2% increase in units sold from 1,437 home sales recorded last year totaling $236 million, resulting in a 2% increase in total sales.

The average home sales price for the month was $163,964 virtually unchanged from $164,151 in March 2018.

Through the first quarter of 2019, the number of home sales recorded are up 3%, average home sales prices are up 1% and total home sales are up 4% from Q1 2018.

Investor purchases accounted for 40% of home sales for the month with an average sales price of $82,071.

43% of home sales recorded in March were valued under $100,000.

Home sales valued over $300,000 were down 8% in March with 197 sales recorded compared to 215 last year.


Commercial Sales

While the number of commercial property sales were down 13% in February, average sales prices skyrocketed.

There were 67 sales recorded for the month averaging $1.9M compared to 77 sales recorded in February 2018 averaging $1.3M resulting in a 44% increase in average sales price.

Sales of churches and schools were up 200% from last year with 6 recorded for the month averaging $365,000 compared to 2 recorded last February averaging $797,500.


Property # Sales- 02/19 # Sales- 02/18 % Change
Industrial 10 16 -38%
Vacant Land 17 16 6%
Multi-Family 7 10 -30%
Office 9 6 50%
Retail 9 14 -36%

The largest commercial transaction recorded in February was the sale of the West Clinic located at 7945 Wolf River Blvd. in Germantown. The three-story medical clinic sold for $51 million on February 20th. The West Clinic acquired the property from Methodist Healthcare after the termination of their partnership. Click here to read more about the transaction.


Residential Foreclosure Analysis

Foreclosure activity remains historically low with 111 recorded for the month compared to 126 recorded in March 2018.

Of the properties foreclosed, the average foreclosure amount was $63,679 and the average tax appraisal value for the properties was $90,836.

Westwood (38109) had the most homes in foreclosure inventory at the end of the month with 138 properties valued at $5 million.

Southeast Shelby County (38125) had the highest foreclosure inventory value of $14 million across 85 properties.

Fannie Mae ended the month with the most homes in foreclosure inventory with 128 valued at $11 million. US Bank holds 99 properties valued at $10 million.



New Housing & Builder Activity

New home sales were down 17% for the month with 65 recorded compared to 78 last year.

Average new home sales prices fell 4% to $350,715 compared to $364,452 in March 2018.

New home starts were down 10% in February with 65 permits filed for the month averaging $316,370 compared to 72 filed in February 2018 averaging $319,389.

Collierville claimed the most new home permits in February with 21 recorded averaging $407,238.

Regency Homebuilders was the top builder for new home starts and new home sales in February with 13 permits recorded averaging $266,113 and 18 new home sales averaging $365,706.


Mortgage Trends & Lending Analysis

Residential mortgages filed at the time of sale were up 3% in March with 900 loans recorded for the month compared to 870 recorded March 2018.

The average mortgage amount was $187,521, with an average sales price of $210,175, making the average loan to value ratio 89%.

Cordova's 38018 ZIP code had the most residential loans recorded at the time of sale with 69 mortgages averaging $191,933.

The top lenders in March based on the total number of residential mortgages filed at the time of sale were Community Mortgage Corp. with 71 loans, Pinnacle Bank with 59 loans and BancorpSouth Bank with 33 loans.

Loans from private lenders were down 14% from last year with 42 recorded for the month averaging $101,951.



Fayette & Tipton County Market Trends

Fayette County home sales were down 32% in March with 49 home sales recorded for the month compared to 72 recorded in March 2018. Average home sales prices were up 17% from last year to $309,967. Oakland (38060) recorded the most home sales for the month with 18 total averaging $248,069.

Tipton County home sales were down 16% with 85 recorded for the month compared to 101 recorded in March 2018. Average home sales prices were up 13% to $186,658 compared to $164,612 last year. Atoka (38004) recorded the most home sales for the month with 24 total averaging $263,219.

* Data Provided by Chandler Reports