Author: Jan Roeser
Median price sold | 2024 | 2023 | Change |
---|---|---|---|
Ada | $540,000 | $539,900 | 0.0% |
Adams | $499,000 | $553,100 | -9.8% |
Boise | $485,000 | $508,000 | -4.5% |
Canyon | $413,990 | $400,000 | 3.5% |
Elmore | $347,250 | $340,000 | 2.1% |
Gem | $410,121 | $544,388 | -24.7% |
Owyhee | $370,000 | $479,900 | -22.9% |
Payette | $403,989 | $368,149 | 11.2% |
Valley | $830,000 | $900,000 | -7.8% |
Washington | $325,750 | $445,000 | -26.8% |
Source: Intermountain Multiple Listing Service |
Days on market | 2024 | 2023 | Change |
---|---|---|---|
Ada | 42 | 39 | 7.7% |
Adams | 91 | 67 | 35.8% |
Boise | 72 | 73 | -1.4% |
Canyon | 52 | 40 | 30.0% |
Elmore | 46 | 36 | 27.8% |
Gem | 51 | 48 | 6.3% |
Owyhee | 74 | 61 | 21.3% |
Payette | 56 | 43 | 30.2% |
Valley | 65 | 51 | 27.5% |
Washington | 56 | 100 | -44.0% |
Regional average days | 61 | 56 | 8.4% |
Source: Intermountain Multiple Listing Service |
Inventory | 2024 | 2023 | Change |
---|---|---|---|
Ada | 1,693 | 1,509 | 12.2% |
Adams | 35 | 18 | 94.4% |
Boise | 113 | 70 | 61.4% |
Canyon | 1,085 | 873 | 24.3% |
Elmore | 122 | 87 | 40.2% |
Gem | 92 | 95 | -3.2% |
Owyhee | 36 | 34 | 5.9% |
Payette | 130 | 96 | 35.4% |
Valley | 158 | 111 | 42.3% |
Washington | 53 | 42 | 26.2% |
Regional totals | 3,517 | 2,935 | 19.8% |
Source: Intermountain Multiple Listing Service |
Total homes sold | 2024 | 2023 | Change |
---|---|---|---|
Ada | 805 | 557 | 44.5% |
Adams | 9 | 9 | 0.0% |
Boise | 15 | 12 | 25.0% |
Canyon | 457 | 329 | 38.9% |
Elmore | 26 | 25 | 4.0% |
Gem | 30 | 22 | 36.4% |
Owyhee | 9 | 9 | 0.0% |
Payette | 38 | 28 | 35.7% |
Valley | 23 | 27 | -14.8% |
Washington | 8 | 9 | -11.1% |
SW sold and % change | 1,420 | 1,027 | 38.3% |
Source: Intermountain Multiple Listing Service |
Oct-23 | Oct-24 | % change | # change | |
---|---|---|---|---|
Unique postings | 9,199 | 9,696 | 5.4% | 497 |
Days posted | 11 | 15 | 36.4% | 4 |
Number of employers | 2,332 | 2,312 | -0.9% | -20 |
Advertised wage | $21.23 | $27.91 | 31.5% | $6.68 |
Share wage advertisements | 43% | 52% | 20.9% | 9% |
Source: Help Wanted Online data via Lightcast |
Top 10 occupations by unique job postings in southwestern Idaho | Postings, Oct-24 | Postings, Oct-23 | Year over year % change |
---|---|---|---|
Retail salespersons | 288 | 262 | 9.9% |
Registered nurses | 318 | 413 | -23.0% |
Customer service representatives | 205 | 194 | 5.7% |
Computer occupations, all other | 261 | 170 | 53.5% |
Sales representatives, wholesale, manufacturing, except technical and scientific products | 182 | 137 | 32.8% |
Software developers | 206 | 168 | 22.6% |
First-line supervisors of retail sales workers | 139 | 155 | -10.3% |
Laborers, freight, stock, material movers and hand | 117 | 109 | 7.3% |
Project management specialists | 118 | 85 | 38.8% |
Fast food and counter workers | 105 | 93 | 12.9% |
Source: Help Wanted Online data via Lightcast |
Ada County
- Kuna’s $7.2 million supplemental levy passed the voters’ scrutiny with 59% support. The levy will add $18 per $100,000 in taxable assessed value per year. Source: Idaho Education News
- Hewett Park updated its playground equipment and ADA-approved pathways through the park. The city of Boise held a ribbon cutting to celebrate the combining of two different playground areas. The addition of updated equipment allows for imaginative play, provides climbing structures, a sensory garden wall and safer bonded rubber surface material. The park benefits 3,364 residents from 1,223 households within a 10-minute walk of the renovated space and equipment. Source: Idaho Press
- The Boise City Council approved $2.7 million towards repairs of the downtown Union Block building. A mechanism to be reimbursed by the private owner has not been established due to the immediacy of the situation. Source: Idaho Statesman
- Meta announced its Kuna Data Center is on schedule and set to open in 2025. It is referred to as a mega data center with two buildings that could hold eight football fields in length each. There will be an estimated 700,000 servers housed at the center with an estimated 100 workers. The construction was paused for eight months with the company reevaluating needs — creating a redesign. The center will be using 100% renewable energy while adding 200 megawatts of renewable energy to the state’s grid. A data center needs significant quantities of water to counter the heat permeating from the servers. This led to Meta’s creation of a $100 million Water Treatment Center with a goal of being water positive by 2030, indicating the company will economize its water usage and return more water than is used. The community of Kuna is the recipient of the new water treatment plant, donated by Meta passing on the management and maintenance also. Technology continues at a rapid pace. Company leadership anticipates the data center evolving and looking different, even in five years. Source: Idaho Business Review
- The State Board of Education approved the expansion of Meridian’s Idaho State University campus. Currently, the Meridian facility has about 1,000 students in graduate programs primarily, with 160 staff and faculty to support the programs. The parcel was purchased about five years ago and in 2023, $5.4 million in funding was appropriated by the Legislature’s permanent building fund. Earlier this year, the city of Meridian annexed and zoned the property and will review the development agreement between the university and the city, allowing the site development to commence. Source: Idaho Statesman
- Boise State University’s fall enrollment grew by 2% to a record total enrollment of 27,250 students. In-state, degree-seeking undergraduate levels increased by 657 students or 6.5%. The number of new Idaho students increased by more than 51% since 2020. Source: Idaho Education News
- The city of Boise recently signed up for a new program, provided by Idaho Power, allowing for the purchase of renewable clean energy for the next 20 years. The program is coined ‘Clean Energy Your Way’ with Boise as the first Idaho city to sign on, purchasing solar power from Black Mesa Energy project in Elmore County. The program is available for all Idaho Power customers including residential and business with different plans for each account type. So far, the city has purchased solar power for the Boise Airport and the Lander Street wastewater treatment plant. This move brings the city 25% closer to its goal of full renewable energy by 2030. This occurs without paying a premium for the renewable source except for the first 18 months of the project. Source: Idaho Capital Sun
- Ada County commissioners awarded a 30-year lease of the former Les Bois horse racing track at Expo Idaho for development of a soccer stadium, with the potential for other sports to utilize the facility. The commissioners, the developers, representatives from the Boise Hawks minor league baseball team and a Garden City leader met after the official vote to discuss potentially replacing the Hawk’s Memorial Stadium with the planned stadium. The possibility of funding it through an urban renewal district is under consideration, but it is early in the plan and design stages. Source: Idaho Statesman
Canyon County
- The Star Middleton Fire District’s property tax levy failed at the polls. It would have added $2.25 million to its annual budget. The new fire station is under construction and the levy would have supported the labor and equipment, as well as the gear that each firefighter has custom fit. Source: Idaho News 6
- The Caldwell School District’s patrons passed a two-year, $4.1 million levy that failed at the polls in May. The lack of a levy on the books carried consequences such as staff layoffs, the closure of Lincoln Elementary School, repurposing of two other schools, along with the cancellation of a contract for school resource officers and the implementation of a pay-to-play athletics fee. Much of the budget chopping will be reversed with the voters’ approval by simple majority. Except for this recent period from May to November, Caldwell School District has had a levy for the past 50 years. The solution was better education and outreach regarding the school needs and the impact of the levy. Source: Idaho Press
Elmore County
The city of Glenns Ferry issued a boil order for its tap water, including uses such as drinking, cooking, making ice, washing dishes or brushing teeth. The school district administration recommended parents send their children to school with at least one bottle of water since the school water fountain is turned off. The city’s filtration system is not adequately working, with city personnel working to solve the problem. A sunset date for the boil order has not yet been released. Source: Mountain Home News
Owyhee County
- Idaho Power was awarded almost $500,000 from the U.S. Department of Energy to provide enhancements at C.J. Strike Reservoir campgrounds. The work will begin next year and is expected to cost between $2 million and $3 million. Improvements include electrical pedestals to camper electrical access and to cut down noise levels, adding electrical charging stations for electrical vehicles in the parks and increasing potable water availability at the campgrounds. Program funding came from the Bipartisan Infrastructure Law. Additionally, the North Park Campground at the reservoir is closed until the end of 2024. The docks are being replaced with ones that will accommodate changes in water levels as the utility requires additional power generation during the peak summer season. Other areas are on the schedule for ramp replacement in 2025. Source: The Owyhee Avalanche
- Homedale’s 10-year, $9.5 million plant facility levy passed with 63% support. This levy is smaller than the previous levy that fell off at the end of June 2024. Taxpayers are expected to pay less over the future 10-year period. Source: Idaho Education News
Valley County
- Tamarack Resort in Donnelly announced it is moving forward with its plan to increase the ski resort base triple its current skiable domain of 1,100 acres. It submitted a plan to expand its special use permit with the U.S. Forest Service. A public comment period and then an Environmental Impact Statement must be submitted for approval by the U.S. Forest Service. Meanwhile, the resort acquired an additional 500 acres that allow it to connect with another parcel it owns and develop a mix of residential units for ski-in, ski-out access. Source: Idaho News 6
- Cascade School Districts two-year, $1.3 million supplemental levy passed with 58% support. Approval of the levy does not change the property tax bill of residents, since the existing levy that fell off June 30, is the same amount. Source: Idaho Education News
- A housing needs study commissioned by West Central Mountains Economic Development Council was presented at the organization’s 7th Annual Economic Summit. Findings by Agnew Beck, a contracted consulting firm, included:
- Over the next 10 years, 1,400 homes and apartments are needed in Valley County. Being broken out, it equates to 1,200 new housing units and 200 existing homes needing renovation updates.
- Most of the demand can be met by developments already approved or proposed.
- There is an estimated range between 2,000 and 5,000 new residents that could move to the area by 2033.
- Regionally, over the past five years, home values rose by 83% while rental rates increased by 34% compared to wage growth of 29%. Evidence is shown in the increasing unaffordability pronounced in tourism towns.
- The study found 67% of all homes in the region are considered vacant. McCall has the highest share of vacant homes at 68%, Donnelly is at 56% and Cascade is at 55%. Vacant is a proxy for vacation homes, second homes or rental homes. Source: The Star-News
Washington County
- The Weiser River’s Galloway Diversion Dam was restored in quick order once grant funding was identified, grants written and awarded. The 100-year dam had aged and eroded to the degree of a likely failure in the near term. The Weiser River Water District received $124,410 from an Idaho Aging Infrastructure grant awarded by the Idaho Water Resource Board and $150,000 from the Water Quality Program for Agriculture grant given by the Idaho Water and Soil Conservation Commission. The total cost for the job was $383,000, with some matching money making up the difference. The work was completed in one month by the contracting firm of Braun-Jensen Inc. who extended the life of the dam for another 50-100 years. Source: Idaho Capital Sun
Openings
- Boise In-N-Out opened with less hoopla and shorter lines than its first location’s opening in Meridian earlier this year. Other restaurants in Nampa and Twin Falls are in the design pipeline while a second Meridian location has submitted a pre-application to the city. Source: Idaho Statesman
- The Franklin Apartments, an affordable housing project bankrolled by the city of Boise and various partners, held a ribbon cutting. There are 205 apartments spread across four buildings. This is the first property to be developed using the Housing Land Trust program which takes city-owned land and leases it to a private company that builds the housing and rents in an affordable structure. Source: KTVB News
- Marco’s Pizza has opened its fifth Treasure Valley restaurant in Boise, sharing a building with Starbucks. Source: Idaho Statesman
- Rapido Burrito opened in Boise in a former Gyro Shack location. Source: Idaho Statesman
- Insomnia Cookies celebrated the Boise opening of its first shop in Idaho near Boise State University. Their cookies are freshly baked and served warm. The cookie shop is hiring part-time workers. Source: Idaho Business Review
- Wright Physical Therapy opened in Nampa with a grand opening ceremony. This is its sixth Idaho location. Source: Idaho Business Review
- The Idaho Hispanic Foundation (IHF) held a ribbon cutting at its new resource center housed within the Idaho Hispanic Community Center. Wells Fargo took the opportunity to present a $10,000 check in support of IHF’s business program. IHF was previously located at the recently closed Snake River Elementary. Source: Idaho Press
- Bar Please! opened in downtown Boise in the former Alchemist coffee shop and cafe. It shares the space with the Thick as Thieves speakeasy. The menu is short but curated for both artisan cocktails and bar snacks. Source: Idaho Statesman
Closures
- Quik-Wok Restaurant in Meridian closed after 23 years. Two other locations in Boise and Kuna continue operations. Source: Idaho Statesman
- Squeeze In closed its only Idaho restaurant, located in Eagle. It opened four years ago. Source: Idaho Statesman
- Tommy’s Italian closed both its Boise and Meridian restaurants after hanging on for a year in Meridian and after five months of opening in Boise. The operator cited low foot traffic and staffing as reasons for the closure. The original restaurant, il Sugo Italian Kitchen, continues to operate in Meridian. Source: Idaho Statesman
- Pieology’s restaurant in Kuna closed after less than a year in operation. Pieology has 95 locations nationwide. Source: Idaho Statesman
- Somewhere Bar, an iconic Garden City nightclub, closed its doors. It is identified by the large rearing stallion on top of the building and was home to the former Ranch Club for about 50 years. A reason for the closure was not provided, while the Facebook post regarding the closure declared “we have been loud, proud and courageous. That’s not going to change.” Source: Idaho Statesman
- Zeeks Pizza closed its Eagle full-service restaurant after 18 months. The Washington-based company tapped Eagle as its first out-of-state venture. The closure will leave 25 restaurants, both corporate and franchise, operating in Washington. Source: Idaho Statesman
Groundbreakings
- The city of Marsing broke ground on the Owyhee County Fitness Court. The ground was donated by the Marsing School District and is adjacent to its offices. The cost is expected to range between $180,000 to $200,000, with exercise stations designed for all age groups. Donations have reached $129,000 and came from the local governments of Marsing and Owyhee County, along with community members and businesses. Another $50,000 to $70,000 is needed to achieve full funding. Source: The Owyhee Avalanche
- The YMCA broke ground on its new facility across the street from its original downtown Boise location. The new three-story building is projected to cost $80 million and will include a child care center, an indoor track, an indoor play space, a teenage hangout area, a Blue Cross of Idaho health center and a ninja course — in addition to its studio space, gym, swimming pool complex and administrative space. Its opening is scheduled for the fall of 2026 and the capital campaign has its last $5 million to raise in addition to its $35 million in charitable donations and $40 million in financing. Source: Idaho Statesman
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Region
Median price sold | 2024 | 2023 | Change |
---|---|---|---|
Ada | $545,000 | $542,450 | 0.5% |
Adams | $640,000 | $825,000 | -22.4% |
Boise | $510,000 | $712,500 | -28.4% |
Canyon | $424,900 | $404,990 | 4.9% |
Elmore | $373,995 | $355,000 | 5.4% |
Gem | $456,750 | $519,000 | -12.0% |
Owyhee | $392,450 | $475,000 | -17.4% |
Payette | $383,000 | $387,000 | -1.0% |
Valley | $770,000 | $721,500 | 6.7% |
Washington | $314,500 | $318,540 | -1.3% |
Source: Intermountain Multiple Listing Service |
Days on market | 2024 | 2023 | Change |
---|---|---|---|
Ada | 36 | 33 | 9.1% |
Adams | 100 | 38 | 163.2% |
Boise | 41 | 52 | -21.2% |
Canyon | 46 | 42 | 9.5% |
Elmore | 41 | 35 | 17.1% |
Gem | 40 | 62 | -35.5% |
Owyhee | 42 | 83 | -49.4% |
Payette | 44 | 66 | -33.3% |
Valley | 56 | 42 | 33.3% |
Washington | 40 | 70 | -42.9% |
Regional average days | 49 | 52 | -7.1% |
Source: Intermountain Multiple Listing Service |
Continue reading “Around Southwestern Idaho: Economic activity, August 2024”