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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 66 378 15,444
MORTGAGES 67 456 20,235
FORECLOSURE NOTICES 12 121 4,007
BUILDING PERMITS 175 1,046 36,888
BANKRUPTCIES 58 290 14,633
BUSINESS LICENSES 16 80 5,209
UTILITY CONNECTIONS 76 388 22,205
MARRIAGE LICENSES 28 111 4,774

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