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

New-Home Permits Jump 37 Percent in Quarter

By Sarah Baker

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Local homebuilders saw a 37 percent increase in filed permits in the fourth quarter year over year.

Shelby County homebuilders filed 202 permits during the final quarter of 2012, compared to 147 in Q4 2011, according to real estate information company Chandler Reports, www.chandlerreports.com.

The average permit in the final quarter measured 3,232 square feet and $242,910, compared to 3,329 square feet and $243,611 in Q4 2011.

The top builder, as tracked by home permits from October to December, was Regency Homebuilders LLC (53; 3,075; $217,716). Next was Grant Homes (24; 2,900; $183,143) and Karen Garner of Magnolia Homes (15; 3,706; $358,533).

The ZIP codes notching the most permits in the quarter were Arlington’s 38002 (50; 3,355; $231,029) and Cordova-North’s 38016 (42; 2,745; $187,192).

Active subdivisions during the quarter were Fountain Brook in 38106 (17; 2,860; $192,532), Wolf River Ranch in Collierville’s 38017 (15; 3,846; $375,267), and Kensington in 38002 (13; 3,111; $192,586).

Builders sold 202 new homes during the fourth quarter, tallying the exact amount as new permits filed. Those homes averaged $270,628 and totaled $54.7 million.

There were 208 new homes sold in Q4 2011, averaging $219,958 and totaling $45.8 million.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 83 415 10,637
MORTGAGES 87 499 13,826
FORECLOSURE NOTICES 0 80 2,724
BUILDING PERMITS 0 915 25,222
BANKRUPTCIES 77 341 10,233
BUSINESS LICENSES 19 97 3,833
UTILITY CONNECTIONS 143 573 15,130
MARRIAGE LICENSES 0 83 3,250

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