How much does an acre of land go for in your area?

   / How much does an acre of land go for in your area? #21  
I bought 40 acres in S. Illinois in 1993 for $400/acre. I bought another half acre that adjoins my property at a tax auction for $900. Thirty acres are wooded and ten is tillable. We put a 2,100 square foot house on the property in 2005. I know land in my area that has sold recently for $3,000 - $4,000 an acre.
 
   / How much does an acre of land go for in your area? #22  
Here in town... Last house on the block sold $250,000 for 1/3 acre and 3 years earlier 1/3 acre sold for $399,000. Both removed the 1100 sq.ft. house down and plopped down a 4-5000 sq.ft. house. Now out side of the city... that's another story.

Have not kept up with land value in the mountains...
 
   / How much does an acre of land go for in your area? #23  
Yes... the 250K per acre is within the city limits of Oakland CA and zoning requires a minimum of 25,000 square feet for a buildable lot. No commercial or subdivisions allowed... area was set-up for horses... although 65 years later maybe only two owners actually have a horse.

$21,000 an acre is what I was offered by a Nature Conservancy Group with government backing for 10 acres near Olympia WA... Had a forester out a few years ago and he commented the large Cedars had value... problem is much of the property was now "Protected"
 
   / How much does an acre of land go for in your area?
  • Thread Starter
#24  
I'm thinking if they have turned down $45K then I don't think your wife will get it for $30K,:eek: looks like your $50K is perhaps were the price should be. All depends on the land owner, do they need or want to sell? :)

The seller is older and doesn't really care. It's the last lot at the end of the subdivision, which I personally like better than being in the middle. The largest home is directly across the street from this lot and is probably in the high 800k range. I spoke with the lady (widowed) who lives next door and she told me that she and her husband paid $30k for their 5 acre lot right next to mine in 1979. She seems really nice and said that if she were older or had any children that she'd buy the lot just to have more property but with her an older widow, it would just be more that she couldn't take care of and pay taxes on.

Based on looking around at what seems like every lot within 6 or 8 miles from me that is 5 acres or larger, having a new paved road with all utilities, except sewer, really bumps the price up. On the side of town I live on it seems that there just aren't many lots that come up for sale. They just get passed on down from generation to generation.

Oh, since I was posting this the lady who lives next door just called me and told me that the one house for sale (only listed 3 weeks ago) in the subdivision just sold today for $310 when their asking price was $319,900. I think I may offer the owner $49k just to see if I can 'win' some. One realtor I know is thinking about buying it to build a spec house on and try to flip it since he thinks the lot price is really good for that location. And, no, he's not involved in selling the lot. It is for sale by owner and really only by word of mouth.
 
   / How much does an acre of land go for in your area? #25  
In '84 bought 19 acres for 250 an acre in central maine. Now rural land can be had for 1000 an acre. The market has really slipped this last year.
 
   / How much does an acre of land go for in your area? #26  
farm land-- just across the road 160 went for @6000.00 poor ground about 12 miles a guy bought 192 acres@7200.00 per acre heard a fertlizer bought a chunk 50 acres @ 10.0000 along side of a railroad line rent is also high about 400@acre (southern mn)

Outside Peoria, Farmer just bought 80 acres at 11k per acre. To farm it. But it is good black dirt, 100%
 
   / How much does an acre of land go for in your area? #27  
This is a 5 acre adjacent to mine just on the market. I suspect the owner will take a little less but $23k an acre is probably not unreasonable. If I deduct the house and shop value for my place, I paid about $13k per acre back in '02. Now if you can peek between the trees and see water, the sky's the limit.:shocked:
 
   / How much does an acre of land go for in your area? #28  
Dargo, it sounds to me like the owner doesn't need the money. What is he asking for it? I would tell you, if you'll regret that someone else bought it for his price, would you be mad at letting it get away?
 
   / How much does an acre of land go for in your area? #29  
Probably 3 to 5K. Mid Michigan. Land prices here never got that high, but they haven't dropped that much. Building lots, anywhere from 1/2 acre to 2 acres, were going at tax sales here this year for 1K or less. But some of them are burdened with sewer and water asessments that run a couple thou a year. The local townships sold bonds, built infrastructure, but when the economy crashed, the big developers simply walked away from developments, leaving buildings unfinished, and very few residents to pay for the new infrasturcture. Another example of privatised profit and socialised risk.
 
   / How much does an acre of land go for in your area? #30  
Up here in Northern Michigan 40's sell for about $1,000 acre. If they have real good timber or River Frontage a bit more.
 
 
Top