Idaho Land Report

IDAHO LAND REPORT 2 0 2 0 Counties included: Insights Ada, Canyon, Bannock, Bonneville, Bingham, $650,000 Cassia, Jerome & Twin Falls » Boise home values are strong and $600,000 continue to rise, increasing 11.8% Current$550,000 Commercial Land Listings from 2019, and are expected to Average prices per acre by region grow 5.6% into 2021. (Zillow.com) $500,000

$450,000 » Idaho’s statewide home price $400,000 increased by 14.4%, leading the $350,000 nations 50 states from Q3 2019 to Q3 2020. (Federal Housing $300,000 Agency) $250,000 $200,000 » Construction in Idaho has $150,000 increased 2% statewide and now makes up 6.9% of Idaho’s gross ,333 $100,000 ,633 domestic product. $50,000 (Eastidahonews.com) $312,826 $198,528 $317 0 $451 » Eastern Idaho currently has the ADA CANYON SOUTHERN IDAHO EASTERN IDAHO most commercial acres available Q4 2020 Market Average Price ($320,080) with 5,643 acres listed for sale Q4 2019 Market Average Price ($281,262) and Canyon County following close behind at 3,434 acres listed for Land Acres Currently on the Market sale.

2,641 » The United States farm real estate Ada County 4,269 value, a measurement of the value of all land and buildings on farms, 3,434 ONED Canyon County averaged $3,160 per acre which Z SIDENTIAL

RE 1,217 is a 3.7% increase over 2019, and the United States cropland value

CIAL 601 Southern Idaho averaged $4,100 per acre in 2020. ONED

Z 216 (USDA) COMMER 5,643 Eastern Idaho 380

0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 2021 Predictions DEMAND SUPPLY PRICES » Boise is predicted to see a 7.6% year-over-year home price appreciation and Idaho Falls is Year-over-Year predicted to see a 6.3% year-over- year home price appreciation in Q1 Building Permits 2021. (Inman.com)

» Low mortgage rates will keep 2019 2020 demand for homes high, keeping PERMITS PERMITS the hot seller’s market going. Prices are expected to remain high 6,716 Ada County and inventory is predicted to keep 6,480 moving quickly. (Zillow.com)

2,849 Canyon County 2,660 2,660

1,828 Eastern Idaho Boise, Idaho was listed #1 1,634 1,634 by Buildium on the Top 50 1,253 Southern Idaho Up-and-Coming Real Estate 1,204 Markets to watch in 2020 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000

COMMERCIAL New Construction $1,054,538,667 Permit Values 15% 2020 year to date

85% RESIDENTIAL $1,870,579,304 Median Home Value (Idaho): $315,911 Highlighted Transactions

Median Home Values SOLD SOLD SOLD (Idaho) Increased 11.4% since 2019

Median Home Values are Predicted to increase (Idaho) 2505 Franklin Road Legacy Development TBD W. Kuna Road 8.2% in 2021 Residential Residential Residential Caldwell, Idaho Eagle, Idaho Kuna, Idaho Land size: 23.62 acres 118 lots sold Land size: 120 acres Median New Construction Home Price (Idaho): $320,000

Idaho Data provided by LAND BROKERAGE Zillow & Build Idaho 755 W FRONT ST. STE 300 | BOISE, ID | 208 345 9000 | COLLIERS.COM/IDAHO

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