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January 2011 New Housing Analysis

February 18th, 2011

There were 47 new home sales recorded in the first month of the year compared to 71 recorded in January 2010.  New home sales made up 6% of all home sales in Shelby County with an average sales price of $229,645, virtually unchanged from the prior year.

A total of 23 new home permits were filed in January averaging 3,862 and $243,994.

The Top Builder for the month based on the number of new home permits filed was Charles Morgan of Vintage Homes with 6 permits, averaging 3,255 square feet and an average value of $216,519. All of the permits were filed at Gerland Creek subdivision. Gerland Creek is on the north side of Shelby Drive west of Hacks Cross Road.

Southeast Shelby County (38125) had the most new home permits filed for the month with 10 total averaging 3,749 square feet and $248,961.

February is looking to be a positive month for new home permits, there have been 30 filed through February 11th.

Click here to read the lastest article from The Daily News on local homebuilding activity.

Review our January Market Trend Reports here.

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