Building Lot Values Rise
National Association of Home Builders (NAHB) analzyed data from the U.S. Census Bureau’s Survey of Construction and reported that lots are costing buyers more. In the mountain region, single-family lot prices reached a new record high in 2017 - half of the lots were priced at or above $52,000. NAHB notes on its blog that this increase is "consistent with persistent record lot shortages" and "consistent with significant and rising regulatory costs that ultimately increase development costs and boost lot values."
This analysis was based on single-family speculatively-built homes and not custom homes built on owner's land which explains why you may be seeing building lots at even higher values throughout Ada County. LEARN MORE