The number of commercial land transactions in Eastern Idaho surged by 23 percent compared to this time last year. Over the first half of 2024, more than 119 acres of commercial land sold, with total consideration exceeding $8.6 million. Additionally, the number of commercial permits issued has increased by 9 percent, while the total value of these permits has skyrocketed by nearly 140 percent year-over-year. This dramatic uptick in permit value is partly due to a $32 million permit pulled for Idahoan Foods’ new building in the West Idaho Falls submarket.
On the residential side, the total number of single family permits have nearly doubled since the first half of 2023, with almost 500 permits pulled so far this year. Multifamily development remains strong as well, with over $32 million in permits granted in the first half of 2024 and 1,200 units currently planned or under construction..
