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

[beppington]

My buddy just bought the vacant 4 acres next to him for $137,000 from the owner who bought it in 2006 for $170,000. Previous owner also had a well installed, & put in two fancy pants metal gates.

Minus about $38,000 in 5 years

I'm glad he's not my financial adviser! :thumbsup:

Of course, that's "only" a -21.7% return. Apparently there are worse financial scenarios going on.

 

[KTurner]

We're zoned rural residential in south east VA. The most recent land sale on my street was about a year ago. 1.9 acres for $170k, just empty land. There's a 3.2 acre lot at the end of the street. It's waterfront (salt water), but it's right beside a small public boat ramp - probably part of the reason it hasn't sold. They're asking $800k and it's been on the market for probably two years. A quick spot check of a few nearby properties shows che county seems to be assessing land at about $90k/acre +/- for 1-2 acre lots.

Keith

 

[clemsonfor]

Here in my state you can still have land with small trees on it for $2000 or less an acre. If you buy it freshly cut weather planted or not it will routinely sell for less tan $1500 acre maybe less than $1000/acre. This would be for timber tracts in the say greater than 75 acre range no city water or sewer in most cases. Many of you folks i think are quoting acerage in a city esp the guy in California. That or an acre that can be used to grow that green gold known as corn these days.

As a forester these are fair values, many may want $2500/acre but will never get it now. These are tracts that say will pay out with a 35-40yr old final harvest valued at say ~$3,000/acre with todays current depressed timber prices. If you read past what i was saying in the first paragraph, no you will not buy land for $2000/acre with 45 yr old trees on it and clear cut it for $3000/acre, those deals are through, and stopped in the 1980s prolly.

For those buying even land in the $13000/acre range and buying more than say one or two at that price, what in the **** do you do seeing as the average family income is i think $60ish K a year. If you lived in a tent or a trashy single wide i could see you making it work but there is no way my wife and i could swing it on our $70K/year family income.

 

[Mousefield]

Prices will vary according to size and location in our area. 5 acres of raw land in our area is around $200,000. and up. 14 acres about 1 mile from us is $495,000. Both with no house or improvements. Now if you are talking ocean front or ocean view then the price of course gets pretty high. :shocked: Just up the road from us you can buy a 1/4 acre lot with an older mobile for around $180,000.:confused2:
Just saw this listing in our local paper 3.13 aces $299,000. no improvements and 1/2 acre lot for $179,000. Cheapest land I know of that sold in the past year or so in our area is a 66 acre mostly treed parcel with a small older house and outbuilding of not much value for $660,000.

 

[Dargo]

I am not keen on the stock market and invest in other things. Where I live land never really went up big nor has it gone down any to speak of. I own a little over a couple hundred acres total now and I think I'm going to buy another lot. This 'new' (to me) lot is the last lot in an established subdivision that was pretty well built out about 25 years ago.Average home price in the subdivision is about 375k. The 6 acre lot has all paved frontage, nicely paved all the way to it, city water, cable TV, phone and gas on the property. It is all woods with a perfect layout for a walk out basement. And, it's only about 3 miles from where I live.

I'm thinking maybe one of my kids may want to build there someday or I can just sit on it for an investment. Most trees are mature and there is a place where I could easily build a lake about 1 acre in size with equipment I have. Oh, it is also only about 4 miles out of the city. I think $50k is a fair price. Wife thinks $30 sounds better. Owners immediately declined a $45k offer. Am I thinking wrong at $50k?

 

[Mousefield]

I am not keen on the stock market and invest in other things. Where I live land never really went up big nor has it gone down any to speak of. I own a little over a couple hundred acres total now and I think I'm going to buy another lot. This 'new' (to me) lot is the last lot in an established subdivision that was pretty well built out about 25 years ago.Average home price in the subdivision is about 375k. The 6 acre lot has all paved frontage, nicely paved all the way to it, city water, cable TV, phone and gas on the property. It is all woods with a perfect layout for a walk out basement. And, it's only about 3 miles from where I live.

I'm thinking maybe one of my kids may want to build there someday or I can just sit on it for an investment. Most trees are mature and there is a place where I could easily build a lake about 1 acre in size with equipment I have. Oh, it is also only about 4 miles out of the city. I think $50k is a fair price. Wife thinks $30 sounds better. Owners immediately declined a $45k offer. Am I thinking wrong at $50k?[/QUOTE]

I'm thinking if they have turned down $45K then I don't think your wife will get it for $30K, looks like your $50K is perhaps were the price should be. All depends on the land owner, do they need or want to sell?

 

[Mudfarmer]

Tree farm acreage at a 30 year low in Western Washington - I paid $2500 per acre for 40 acres in March.
Mf

 

[dave1949]

From today's newspaper:

(These empty building lots are in my area of western Maine)
18 ac Phillips $24K
3 ac Farmington $19.9K
1.88 ac Wilton $10.5K
2.1 ac Wilton w/drilled well and septic design $65K

Larger tracts of 100+ acres can sell for anything from $500/ac to $1500/ac depending on the quality of the land, the timber inventory, location, etc.

I feel lucky we bought our lot in 2003 for $500/ac. Even in the down economy that price would be hard to meet or beat now in this area. It had just been harvested, so that makes a difference too.

Expensive ($250K & up for here) properties just aren't selling. Decent homes on nice lots below $180K have a chance of selling.
Dave.

 

[amashinga]

Not always easy to find land here on Vancouver Island, pacific NW. Arable land goes for about 50k/acre if its too far to commute to town, 150k/acre and up if its close to town.

Non arable land (trees & Rock) go for 100k an acre close to town.

All of the large tracts of land are state owned, or parks, or large logging companies.

 

[amashinga]

Oh I meant to add, you can get some amazing properties further north, with lake frontage or ocean frontage, but they are in the middle of thousands of square miles of mountain ranges, heavy snow in the winter, no roads nor any chance of a road being put in during our lifetimes. Boat or float plane access only. I thought about buying one and putting up a crude log cabin as a real summer getaway and the idea is still bumping around my skull.