Last week I discussed small residential building lots, so this week let’s look at small acreage tracts of land in Flathead County. This includes all residential tracts that have sold that are between 3.0 acres and 10.0 acres. Waterfront tracts are excluded because they tend to be higher value sites that are in a class by themselves.
The price pattern is very similar to that of small building sites in most respects up through 2015. In 2016 these small acreage tracts jumped in both volume and price. Although the number of sales was still lower than the peak years prior to 2007, the number of sales in 2016 made nearly a 13 percent jump in volume. The median price of these small acreage tracts jumped from $95,000 in 2015 to $110,000 in 2016. This is a segment of the market that has been relatively slow in recent years, but now appears to be making a comeback.
The largest jump was in the small acreage tracts were the lots that were between five and six acres. These lots had a 60 percent increase in volume and 32 percent increase in the median price.