Last month, there were 6,825 new residential construction permits with a total value in excess of $2.1 billion added to the HBW database for the Sunshine State; this reflects a 22 percent month-over-month decrease in new home construction activity.
Out of the five regions reviewed (Southwest, Tampa, Orlando, Jacksonville, Southeast), approximately 52 percent of all new home construction activity originated from the Southwest and Tampa areas last month where there were 1,815 and 1,723 new permits respectively. In addition to the Southwest and Tampa areas, higher levels of new residential construction activity also took place in the Orlando area (1,347 permits), as well as Jacksonville (1,268 permits).
Out of the five regions reviewed last month, there were several counties that carried a greater amount of new residential construction activity than others; those counties include St. Johns County (636 permits) in the Jacksonville area, and Lee County (608 permits) in the southwestern region. Additionally, Polk County (Tampa) and Manatee County (Southwest) exhibited higher levels of new home construction in comparison to other counties across the state as there were 561 and 506 new permits on record for the one-month period respectively.
Average Value of Construction
During the month of August, the average value of new home construction across the Sunshine State ranged from a high of $351,913 (Southeast) to a low of $262,783 (Jacksonville), with the southeastern region leading and having the highest average value of new home construction in comparison to other Florida regions reviewed. Here is a look at the average value of new home construction statewide during the month of August:
- Southeast (average value: $ 351,913)
- Orlando (average value: $ 345,745)
- Southwest (average value: $ 320,332)
- Tampa (average value: $ 292,892)
- Jacksonville (average value: $262,783)
To gain more information on the builders, homeowners and permits for the construction activity above, check out HBW for your copy of the latest 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.