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VOL. 127 | NO. 139 | Wednesday, July 18, 2012

June Permits Up 45 Pct.

By Sarah Baker

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Last month proved to be a positive one for local homebuilding activity, with a 45 percent increase year over year in new home permits.

Shelby County homebuilders in June filed 81 permits averaging 3,154 square feet and $233,996, according to real estate information company Chandler Reports, www.chandlerreports.com.

That compares to 56 permits filed in June 2011, which averaged 2,988 square feet and $236,990.

Regency Homebuilders LLC filed the most permits of any other builder in June, with 25 averaging 2,957 square feet and $207,313. Charles Morgan of Vintage Homes LLC filed the second highest, with nine averaging 2,511 square feet and $168,434.

The ZIP code with the most activity was Arlington’s 38002, with 23 permits averaging 3,510 square feet and $237,174. It was followed by Cordova-North’s 38016 ZIP code, which had 17 permits averaging 2,416 square feet and $167,712.

Meanwhile, the highest performing subdivision last month was again Gerland Creek in Southeast Shelby County’s 38125, with seven permits averaging 2,708 square feet and $180,502.

Builders sold 55 homes in June, averaging $250,807 and totaling $13.8 million in sales volume.

That compares to 87 homes sold by builders in June 2011, averaging $227,195 and totaling $20 million; and 162 sold in June 2010, averaging $208,666 and totaling $34 million.

Chandler Reports is a division of The Daily News Publishing Co. Inc.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 85 354 12,626
MORTGAGES 113 438 16,470
FORECLOSURE NOTICES 21 98 3,290
BUILDING PERMITS 358 918 27,694
BANKRUPTCIES 55 276 10,490
BUSINESS LICENSES 18 120 4,204
UTILITY CONNECTIONS 78 429 16,350
MARRIAGE LICENSES 26 125 3,691

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