VOL. 129 | NO. 137 | Wednesday, July 16, 2014
County Building Permits Soar 63 Percent in June
By Amos Maki
Shelby County homebuilding activity experienced significant gains in June when compared to the same month last year.
Builders pulled 106 permits in Shelby County in June, up 63 percent from 65 permits pulled in June 2013, according to real estate information company Chandler Reports, www.chandlerreports.com.
The 106 permits in June also marked a 47.2 percent improvement from 72 permits pulled in May. The average June permit measured 2,473 square feet and $219,271.
The top homebuilder in June, as tracked by the number of permits, was Kevin Hyneman (24 permits, averaging 1,993 square feet). Regency Homebuilders LLC tallied the second-highest number (18; 2,921 square feet; $215,509), and Global Leader came in third (14; 1,794 square feet; $126,164).
The ZIP codes notching the most permits in June were Cordova North’s 38016 ZIP code (22; 2,246 square feet; $154,819). Arlington’s 38002 ZIP code recorded the second-highest number (20; 3,463 square feet; $216,578) and the 38018 ZIP code was third (12; 2,066 square feet; $200,115).
Homebuilders sold 80 homes in June, down from 81 in June 2013 but up 9 percent from 71 homes sold in May.
The average sales price of a home in June was $268,266 with total sales volume of $21.3 million, compared to an average sales price of $264,454 and total sales volume of $21.4 million in June 2013.
Regency Homebuilders LLC finished first in sales in June with 17 averaging $214,694. Kevin Hyneman recorded 13 sales averaging $154,546. Grant Homes sold eight homes averaging $249,653.