Permits Improve 24 Percent in December

By Sarah Baker

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.