Newsletter | 2021 Q1

2021 Q1 Residential Statistics

		Submitted Final Plat Lots*	Recorded Subdivision Lots	New Residential Construction Permits	Recorded Surveys	Vacant Lots
ID	Ada	1959	1079	1523	141	4188
ID	Canyon	1013	889	1054	132	2681

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

Balanced Supply, High Demand

Quarter 1 of 2021 has seen 2,577 new residential construction permits issued compared to 1,968 new subdivision lots recorded. This level production of vacant lots helps maintain the running supply for regional construction. Across the state, U.S. Census statistics indicate that Idaho witnessed 17% growth between 2010 and 2020, with an increase of 271,524 people for a total of 1,839,106 residents in April 2020.

Issued permits are slightly up as compared with 2020 Q1, but the rate of increase has slowed relative to previous year-over-year trends. This suggests that supply chain events, such as vacant lots or material resources, are exhibiting pressure on construction activity.

Indeed, MLS Sales Statistics show a slight decrease in new home sales volume when compared with Q1 of 2020. Meanwhile demand remains surging. In Ada county, average new construction sale price increased from $437,389 to $506,266 (15.75%) and average time on the market decreased from 76 to 29 days (62%) since Q1 of 2020. Median new construction increased from $407,100 to $459,610 (12.9%), while existing homes average sales price saw the largest increase from $405,708 to $564,582 (39.16%) from Q1 of 2020.

landproDATA now prides itself on 18 counties with document coverage for Subdivisions, Records of Surveys, and Corner Records: Ada, Adams, Bannock, Bingham, Blaine, Bonner, Bonneville, Canyon, Elmore, Gem, Jerome, Kootenai, Latah, Payette, Teton, Twin Falls, Valley, and Washington. Continued expansion is underway throughout Idaho and beyond.

Our comprehensive tracking of new Developments in Ada and Canyon counties reveals insight into "pending” lots. Our data indicates that approximately:

• 9,900 lots have been submitted as Final Plats. These are likely to be recorded within the next 18 months.
• 17,000 lots have been approved as Preliminary Plats, but have not yet been submitted as Final Plats. These are likely project phases which will become final plats within the next few years.
• 13,000 lots have been submitted to lead agencies for review but have not yet been approved.