In the first eight months of 2016, residential properties with one to 10 acres of land made up 22 percent of the residential sales. This is nearly the same as it was in 2015. The average lot size for this class of residential property is 3.58 acres and the median size was 2.85 acres.
The number of sales in this class is down 3.7 percent from what it was in the first eight months of 2015.
The median price this year is $317,000, which is 6.2 percent higher than it was last year at this time. The average price of this class is up less than one percent, from $382,022 in 2015 to $384,558 for the first eight months of 2016.
There are currently 347 homes in this class that are on the market, making up 27.5 percent of the total number of residential listings. The median asking price for these homes is $474,900, which is 50 percent higher than the median sold price of $317,000. The average asking price is $791,371 compared to the average sold price of $384,558. Of the 347 listingS in this class that are on the market, only 77 (22 percent) are priced at or below the median sold price for this class.