2020 Economic Indicators Generally Improve Despite Challenging Year
Feb. 10, 2021 - City of Mandan management monitors several local economic indicators. The majority of statistics for the 2020 calendar year are now available.
Local usage taxes
Job openings. North Dakota Job Service reported 2,417 online job openings in January 2021 for Burleigh and Morton counties. That’s 187 fewer openings than a year prior. For the state, there were 13,228 open positions in January, a decrease of 2,661 compared the year before.
Residential building. The City Building Inspection Department issued permits for 120 new residential units in 2020. Single family home construction was up at 95 units compared to 73 the year prior, but the total was down from 195 a year ago because there were no truly new multi-family projects started in 2020. One multi-family permit was issued for a rebuild of a 42-unit building damaged by fire in 2019.
Commercial and industrial building. The city issued permits for new construction, remodeling and addition projects totaling $37 million, up from 2019’s $18 million.
Value of all building activity. The value of all projects for which building permits were issued is nearly $62 million, up from $46.5 million last year.
Real estate sales. The Bismarck Mandan Board of Realtors reports that the average sale price of residential property in Mandan was $260,773, up from $249,806 in 2019. This is on 402 units sold, compared to 298 the year prior. The average time on the market was 58 days, shorter than 78 in 2019. The statistics include single-family home, condo, twin home and duplex sales reported through the multiple listing service.
The City of Mandan Assessing Department recorded 879 transactions for the year encompassing both commercial and residential properties, with 668 for transactions above a zero dollar amount and 420 of which were normal, arm’s length transactions. This compares to 727 total transactions in 2019, 372 of which were normal, arm’s length transactions. These are sales on the open market between two unrelated parties, each with reasonable knowledge of market conditions and under no undue pressure to buy or sell. Other transactions might be between family members or involving other special circumstances.
Local usage taxes
- 1.75% sales tax. Collections reached a record of $5 million, up 23% from 2019. The City uses revenue from a 1% sale tax, amounting to nearly $2.9 million to reduce property tax plus assist with infrastructure costs, economic development and municipal debt reduction. Revenue from a 0.75% tax, generating about $2.1 million, is applied to pay off a bond issued for a voter-approved sports complex.
- 1% restaurant and lodging tax. Collections were also at a record $523,000, up 7% from 2019. Revenue is used for purchasing, equipping, improving, construction, maintenance, repair, and acquisition of buildings or property consistent with visitor attraction and promotion.
- 2% hotel occupancy tax. Collections were up 4% at $50,213, but still down 30% from the peak in 2012. Revenue is used to promote, encourage and attract visitors to the city. The majority is allocated to the Bismarck-Mandan Convention and Visitors Bureau.
Job openings. North Dakota Job Service reported 2,417 online job openings in January 2021 for Burleigh and Morton counties. That’s 187 fewer openings than a year prior. For the state, there were 13,228 open positions in January, a decrease of 2,661 compared the year before.
Residential building. The City Building Inspection Department issued permits for 120 new residential units in 2020. Single family home construction was up at 95 units compared to 73 the year prior, but the total was down from 195 a year ago because there were no truly new multi-family projects started in 2020. One multi-family permit was issued for a rebuild of a 42-unit building damaged by fire in 2019.
Commercial and industrial building. The city issued permits for new construction, remodeling and addition projects totaling $37 million, up from 2019’s $18 million.
Value of all building activity. The value of all projects for which building permits were issued is nearly $62 million, up from $46.5 million last year.
Real estate sales. The Bismarck Mandan Board of Realtors reports that the average sale price of residential property in Mandan was $260,773, up from $249,806 in 2019. This is on 402 units sold, compared to 298 the year prior. The average time on the market was 58 days, shorter than 78 in 2019. The statistics include single-family home, condo, twin home and duplex sales reported through the multiple listing service.
The City of Mandan Assessing Department recorded 879 transactions for the year encompassing both commercial and residential properties, with 668 for transactions above a zero dollar amount and 420 of which were normal, arm’s length transactions. This compares to 727 total transactions in 2019, 372 of which were normal, arm’s length transactions. These are sales on the open market between two unrelated parties, each with reasonable knowledge of market conditions and under no undue pressure to buy or sell. Other transactions might be between family members or involving other special circumstances.