Out of more than 3,800 new permits in Florida that were added to the HBW database last month, approximately 27% were from the Orlando area.
Opening the second quarter of 2016, Florida is looking good as the HBW database continues to grow with new permits and new leads. Focusing on Orlando, Tampa, Jacksonville, Southeast and Southwest Florida, we found more than 3,800 housing starts on file for the Sunshine State and nearly $1.1 billion in total construction value.
In the center of it all (Central Florida), Orlando was #1 for total housing starts. With 1,032 new permits and more than $294M in construction value, Central Florida is flourishing in new residential construction. The average value of homes started in the area last month was $285,020, the second highest average in the state. Orange County (the center of Orlando) was #1 in the state for total starts with 342 permits and close to $111M in total construction value. Osceola County was the next highest for total housing starts in Central Florida with 260 new permits on file and a total construction value just over $43.8M.
The southwest region of Florida was not far behind Orlando with 960 housing starts in April and a total construction value in excess of $262M. Four out of five of the counties reviewed in the southwest region made the top 10 list for total starts in Florida (see chart below). New residential construction activity was somewhat evenly dispersed throughout Lee, Collier, Sarasota and Manatee counties. Lee County took the lead in the area for total housing starts (240 permits), while Collier County was on top for total value of construction (~ $82.7M) last month.
Tampa was third highest last month for both total housing starts and average value of new residential construction. There were nearly 800 housing starts and more than $221M in new construction in the Tampa area last month. The average value of homes started in April was $278,372, and the bulk of construction activity took place in Hillsborough County; Hillsborough had 319 starts last month and the highest total construction value in the area of more than $103.7M. Polk County was second highest in activity with 202 new permits and a total construction value greater than $40.1M.
In Jacksonville, there were clearly two counties that dominated in new residential construction. Out of the 669 housing starts and more than $168M in construction taking place in the Jacksonville area, Duval and St. Johns counties carried the bulk of the activity. More than 242 housing starts with a total value in excess of $73.7M took place in St. Johns County last month. Duval County was second highest in the area with 210 housing starts and a total construction value greater than $37.7M.
Finally, in the southeast region there were fewer total housing starts in comparison to other regions throughout the state. With 368 new permits on file for the month, SE Florida made up for the lack of total starts by having the highest average construction value of any other area in the state (average value: $378,373). Palm Beach County was #1 in the southeast for total housing starts (102 permits), while Miami-Dade County took the lead for highest total value of new construction (> $43M).
When comparing counties throughout Florida, Orlando’s Orange County was #1 for total housing starts in April (342 permits), while Tampa’s Hillsborough County came in at a close second with 319 new permits on file. Here’s a closer look at the top 10 counties throughout the state for the month:
Information utilized for the graphs and above listed figures was directly derived from HBW construction data reports. To gain access to the HBW database and receive custom and detailed reports on the latest residential and commercial building activity in Florida, Georgia, Texas, Alabama, and Oklahoma, please contact HBW for details.