SL new home value up 350%
A recent report by the Iowa Department of Economic Development shows the value of this year's new home construction in Storm Lake has jumped almost 350 percent, with $741,000 in new home construction.
While that figure seems impressive, Code Enforcement Officer Scott Olesen said the spike in new home value has less to do with a housing boom than it does with a building decrease last year.
"Looking at the percent it sounds like a ton of (new homes), but this year is more like average," Olesen said. "We haven't had a super big push on new home development."
Olesen said there has been five new house starts this year inside the city, while the average is around six or seven.
"We have five about ready or underway for single-family dwellings," Olesen said.
Housing costs, Olesen estimated, ranged between average to upper-level prices, from approximately $80,000 to $200,000.
The Iowa Department of Economic Development bases its statistics on reports the city sends to the state, which list the number of single and multi-family dwellings being built in the city.