DATUM Newsletter - 2019 Q1


2019 Q1 Residential Statistics

Submitted
Final Plat
Lots*
Recorded
Subdivision
Lots
Building
Permits
Recorded
Surveys
Vacant
Lots
IDAda185655112621105111
IDCanyon3744234901312129

* Submitted Lots data may be delayed depending on each agency's reporting process.

Lots Supply Reduced Again

With 1,752 new residential construction permits issued versus 974 new subdivision lots recorded during 2019 Q1, the brief replenishment of vacant lots experienced at the end of 2018 was almost immediately tapped with a net reduction of 778 residential lots since January 1st. At this point, any new construction activity is following directly on the heels of the development process.

Treasure Valley Residential Construction by Quarter
Submitted Plat Lots*, Recorded Lots, Permits, & MLS Sales**

* Submitted Lots data may be delayed depending on each agency's reporting process.

** MLS Sales Data—Intermountain Multiple Listing Service, Inc. (http://publicstats.intermountainmls.com/static/staticreports.aspx)

MLS Sales Statistics reports that Days on Market for new construction in Ada county increased to 75 DOM in Q1, but median and average prices on new homes are still up 6-7% over last year, and dollar volume far exceeded 2018 Q1 sales by nearly 30%.

In the realm of existing home sales, 12% fewer houses were sold, but those that did went for 8-9% higher sales prices compared with 2018 Q1. This might reflect that homeowners are holding onto their property in a market where "trading out" incurs higher costs than seems worthwhile. Barring any major macroecononic fluctuations, we anticipate a highly competitive housing market during this warm season that is rapidly putting Boise home prices on par with nearby metropolitan areas.

We already predicted that the increasing rate of construction experienced from year-to-year since 2010 is unsustainable due to all latent approved lots from pre-2005 having been built-out, and that Nampa and Caldwell are targeted as new hubs for residential development. Unless recorded lots can catch up in Q2 and Q3, it would not be a surprising turn of events if New Residential building permits issued in Ada county during 2019 barely surpasses the total issued in 2018.

2019 Q1 Residential Lots
Submitted vs. Recorded vs. Permits

* Submitted Lots data may be delayed depending on each agency's reporting process.


2019 Q1 Statistics

Top Builders

Ada
BuilderNew Residential Permits

Corey Barton Homes, Inc.

363

Blackrock Homes LLC

65

Toll Bros., Inc.

61

Brighton Homes

61

Todd Campbell Construction, Inc.

45

Hayden Homes Idaho, LLC

38

Avimor

32

Biltmore Company LLC

28

Alturas Homes, LLC

27

Hunter Homes, Inc.

26

Others

516

Total

1262

Canyon
BuilderNew Residential Permits

Corey Barton Homes, Inc.

119

Hayden Homes Idaho, LLC

47

Hubble Homes, LLC

13

Liberty Enterprises LLC

6

Sunset Homes Inc.

5

Cotner Building Company, LLC

5

M R H Homes

5

Riverwood Homes, Inc.

5

Prominent Homes LLC

4

Adair Homes, Inc.

3

Others

278

Total

490


Top Surveyors

Ada
SurveyorLots - ResidentialLots - Total

Carl Porter

140

153

Clinton W Hansen

120

145

Robert L Kazarinoff

96

109

Gregory G Carter

77

99

Joseph D Canning

46

52

Dean W Briggs

21

25

Steven J Frisbie

20

25

Travis P Foster

15

18

Lawrence H Koerner

12

14

Cody McCammon

2

2

Others

2

4

Total

551

646

Canyon
SurveyorLots - ResidentialLots - Total

Gregory G Carter

307

353

Cody McCammon

99

104

Robert L Kazarinoff

10

12

Michael R Engebritson

2

2

Nathan J Dang

2

2

Thomas J Wellard

2

2

Robert F O'Malley IV

1

1

R Thomas Ruby

0

2

Others

0

0

Total

423

478


Top Engineer Firms

Ada
Engineer FirmLots - ResidentialLots - Total

Civil Innovations, PLLC

132

149

J-U-B Engineers, Inc.

96

109

Civil Site Works LLC

76

83

Bailey Engineering, Inc.

61

72

B & A Engineers, Inc.

46

52

Briggs Engineering, Inc.

21

25

T-O Engineers, Inc.

20

25

CK Engineering, PC

16

27

WHPacific, Inc.

15

18

SITE Consulting, LLC

12

14

Others

56

72

Total

551

646

Canyon
Engineer FirmLots - ResidentialLots - Total

Bailey Engineering, Inc.

218

253

RiveRidge Engineering Company

99

104

Tomlinson & Associates, Inc.

36

42

Engineering Solutions, LLP

10

12

Keller Associates, Inc.

2

2

T-O Engineers, Inc.

1

1

J-U-B Engineers, Inc.

0

2

Others

57

62

Total

423

478


Record Of Survey

Ada
Surveyor FirmSurveys

Accurate Surveying & Mapping, P.C.

24

Idaho Survey Group, LLC

14

Fox Land Surveys, Inc.

12

Tealey's Land Surveying

9

KM Engineering, LLP

6

Land Group, Inc. (The)

6

Sawtooth Land Surveying, LLC

5

Ada County Highway District

4

Horrocks Engineers, Inc.

4

Marks Land Surveying, Inc.

4

Others

22

Total

110

Canyon
Surveyor FirmSurveys

Skinner Land Survey Co., Inc.

25

Compass Land Surveying, PLLC

14

Mason & Associates, Inc.

10

Fox Land Surveys, Inc.

8

Idaho Survey Group, LLC

8

Sawtooth Land Surveying, LLC

8

Tealey's Land Surveying

8

Eagle Land Surveying, LLC.

7

Timberline Surveying

7

Accurate Surveying & Mapping, P.C.

6

Others

30

Total

131


CPF

Ada
Surveyor FirmSurveys

Ada County Highway District

16

Idaho Survey Group, LLC

12

J-U-B Engineers, Inc.

8

T-O Engineers, Inc.

6

Accurate Surveying & Mapping, P.C.

5

KM Engineering, LLP

3

Civil Survey Consultants, Inc.

2

Fox Land Surveys, Inc.

2

Land Group, Inc. (The)

2

Idaho Power Company

1

Others

2

Total

59

Canyon
Surveyor FirmSurveys

Stricker Surveying PLLC

6

Skinner Land Survey Co., Inc.

5

Fox Land Surveys, Inc.

4

Idaho Survey Group, LLC

4

KM Engineering, LLP

4

T-O Engineers, Inc.

4

Tealey's Land Surveying

4

Compass Land Surveying, PLLC

3

J-U-B Engineers, Inc.

3

Sawtooth Land Surveying, LLC

3

Others

3

Total

43


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