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VOL. 129 | NO. 137 | Wednesday, July 16, 2014

County Building Permits Soar 63 Percent in June

By Amos Maki

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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.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 38 349 15,066
MORTGAGES 111 449 19,779
FORECLOSURE NOTICES 33 91 3,886
BUILDING PERMITS 0 512 35,842
BANKRUPTCIES 62 309 14,343
BUSINESS LICENSES 18 138 5,129
UTILITY CONNECTIONS 69 385 21,817
MARRIAGE LICENSES 13 106 4,663

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