Shelby County’s new housing market saw an increase in activity for January. There were 57 new homes sales up 19% from January 2011 and up 4% from December 2011.
Builders filed 49 new home permits up 30% from the 38 filed last January.
Average new home sales prices also saw an increase, up 4% from the prior year and up 10% from December to $240,854.
Gerland Creek in Southeast Shelby County (38125) had the most home sales, three total, averaging $123,090.
Arlington (38002) had the most new home sales with 9 total averaging $253,383. Arlington also had the most new home permits filed for the month with 18 total averaging $191,536 in Maple Grove PD, Olive Grove, Riggins Hills, Evergreen Hills, Grove/Lakeland, Oakwood/Lakeland and Hunters Walk No.
The top builder for January was Regency Home Builders with 7 new home sales averaging $225,489 and 15 new home permits filed.
Click here to review our January Market Trend reports including: Residential Market Conditions, Commercial Market Conditions, Detailed Foreclosure Analysis, New Housing Inventory Analysis and Residential & Commercial Lender Analysis reports.
Read the latest article on local home building activity from The Daily News including perspectives from Sean Carlson with Regency Home Builders and Keith Grant of Grant Homes here.