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VOL. 127 | NO. 139 | Wednesday, July 18, 2012

June Permits Up 45 Pct.

By Sarah Baker

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Last month proved to be a positive one for local homebuilding activity, with a 45 percent increase year over year in new home permits.

Shelby County homebuilders in June filed 81 permits averaging 3,154 square feet and $233,996, according to real estate information company Chandler Reports, www.chandlerreports.com.

That compares to 56 permits filed in June 2011, which averaged 2,988 square feet and $236,990.

Regency Homebuilders LLC filed the most permits of any other builder in June, with 25 averaging 2,957 square feet and $207,313. Charles Morgan of Vintage Homes LLC filed the second highest, with nine averaging 2,511 square feet and $168,434.

The ZIP code with the most activity was Arlington’s 38002, with 23 permits averaging 3,510 square feet and $237,174. It was followed by Cordova-North’s 38016 ZIP code, which had 17 permits averaging 2,416 square feet and $167,712.

Meanwhile, the highest performing subdivision last month was again Gerland Creek in Southeast Shelby County’s 38125, with seven permits averaging 2,708 square feet and $180,502.

Builders sold 55 homes in June, averaging $250,807 and totaling $13.8 million in sales volume.

That compares to 87 homes sold by builders in June 2011, averaging $227,195 and totaling $20 million; and 162 sold in June 2010, averaging $208,666 and totaling $34 million.

Chandler Reports is a division of The Daily News Publishing Co. Inc.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 62 288 2,619
MORTGAGES 52 197 1,783
FORECLOSURE NOTICES 16 53 275
BUILDING PERMITS 0 569 5,701
BANKRUPTCIES 0 87 993
BUSINESS LICENSES 0 110 491
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0