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Posted on January 12, 2017
November reports from Leon County government and the City of Tallahassee show the value of Leon county single-family new construction permits issued over the last 12-months was $110.41 million. This is 1.3% above the 12-month value reported last month and 12.4% above the $98.04 million reported in November 2015.
The New Construction Report shows the number of permits also increased when compared to 2015. Over the last 12 months, 549 single-family new construction permits have been issued. This is up from the 474 permits issued one year ago.
The Report also shows a large increase in activity in November when compared to last year. November 2016 experienced a 50% increase in permits and a 24.7% increase in value of permits when compared to November 2015.
The annual average number of new single family homes constructed for the ten years before the recession was approximately 1,200.
While current trends reveal significant increases over the last five years, the 549 single family permits issued over the last 12 months is approximately 40% of pre-recession levels.
The chart below shows the annual value of single-family construction permits issued for the previous 12-months. New construction experienced a growth trend from November 2015 to April 2016. Since that time, the value of permits decreased through the summer and has rebounded over the last five months.