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From north to south Collierville, drivers will find streets lined with newly constructed homes and some just getting the foundation down.

And new home construction is showing no signs of slowing down in the town.

In approximately the next three years, Collierville could see nearly 500 new homes in the works, according to documents from Town Planner Jaime Groce.

“New construction is going rampant in Collierville,” said Jerry Lucius, real estate broker for Marx-Bensdorf Realtors. “You’ve got a plethora of land with a lot of different building, and the building has become more generational.”

In 2021 alone, Collierville had 397 new residential construction permits issued, which included 225 single-family homes, 141 senior housing units and 31 townhomes.

For 2022, the town’s development department predicts 467 residential construction permits will be pulled. Officials anticipate that will include 259 apartments, 179 single-family homes and 29 townhomes, based on data collected in the last 10 years.

Despite the hundreds of new homes in various stages, Collierville has not been immune to the inventory issues impacting the Shelby County real estate scene.

Collierville Mayor Stan Joyner said the town currently has 52 homes for sale but typically it would have about 400 for sale.

Although real estate websites show more than 200 homes for sale in Collierville, most are under contract, said Audrey Davis, principal broker at Re/Max Experts. Only 52 are not under contract, she said.

 

Read more: The Commercial Appeal