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Closings: Madison County Land 1-5
Acres
As Of: 12/31/09
| Category |
10 Year Average # of Closings/Year |
2009 Total Closings |
2009 Low/High $/Acre Sold |
2009 Average $/Acre Sold |
| 1-5 Acres: All Zoning Types |
67 |
24 |
$6,200/Acre $69,364/Acre |
$19,212/Acre |
| 1-3 Acres: All Zoning Types |
49 |
19 |
$6,200/Acre $69,364/Acre |
$21,844/Acre |
| Wolf Laurel |
50 |
6 |
$9,722/Acre
$101,690/Acre |
$50,450/Acre |
Source: Regional MLS. deemed
reliable, not guaranteed.
$ Values Comments: Comparisons and
values get skewed with the wide variations of what
gets sold as "land", and also by the fairly small
number of transactions. For
example, we might have 2 acres with a 500 SF cabin, well,
septic, partially cleared, and with a gravel driveway
closing at $40,000/acre or more, while 2 acres of
raw land outside of city limits might close at 75%
less.
Comments About Zoning:
More than 85% of sales occur in
areas where manufactured homes are not allowed, by a
margin of more than 20 to 1 in any category.
The number of active listings however seems to
reflect this rather well, to the extent that no
segment is grossly over supplied relative to each
other. Supply at 18 months would be a more
normal level all the way around.
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