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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 72 327 11,765
MORTGAGES 76 371 15,350
FORECLOSURE NOTICES 41 112 3,023
BUILDING PERMITS 382 972 28,226
BANKRUPTCIES 65 345 11,307
BUSINESS LICENSES 19 117 4,155
UTILITY CONNECTIONS 184 700 17,184
MARRIAGE LICENSES 20 100 3,564

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