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VOL. 128 | NO. 11 | Wednesday, January 16, 2013

Permits Improve 24 Percent in December

By Sarah Baker

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Keeping in line with 2012’s trends, homebuilding activity in December saw a healthy increase from the same month in 2011.

Shelby County homebuilders filed 51 permits during December 2012, a 24.4 percent increase from the 41 in December 2011, according to real estate information company Chandler Reports, www.chandlerreports.com.

December permits averaged 3,010 square feet and $214,145. That compares to permit averages of 3,499 square feet and $252,655 in December 2011.

As with 2012 totals, Regency Homebuilders LLC filed the most permits in December (13; 3,135; $225,215), followed by Grant Homes (five; 2,699; $174,578).

Arlington’s 38002 ZIP code and Cordova-North’s 38016 ZIP code tied for the most new home permits with 11. Active subdivisions were Evergreen Hills in 38002 (four; 2,737; $170,134); Fountain Brook in 38002 (four; 2,950; $199,966); Wolf River Ranch in Collierville’s 38017 (four; 3,787; $398,000); and Wolf River Bluffs in 38127 (four; 2,415; $90,000).

There were 45 new home sales recorded in December, a 31 percent decrease from the 67 sold in December 2011. But like 2012, the average sales price of a new home in December was up significantly year over year to $265,217.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 67 67 10,289
MORTGAGES 107 107 13,434
FORECLOSURE NOTICES 24 24 2,668
BUILDING PERMITS 393 393 24,700
BANKRUPTCIES 60 60 9,952
BUSINESS LICENSES 16 16 3,752
UTILITY CONNECTIONS 149 149 14,706
MARRIAGE LICENSES 31 31 3,198

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