Kelley’s Market Trends: Residential Land Sales

The number of residential land sales has remained relatively stable over the last four years

By Jim Kelley

The number of residential land sales has remained relatively stable over the last four years and the median price of residential land sales has been stable over the last three years.  The median price in the first nine months of 2014 was $75,000 with a median size of one acre. In 2016 the median price was $78,000 based on a median lot size of 1.6 acres.

In the first nine months, 26.7 percent of residential land sales were on small urban or suburban lots, 33 percent were on half-acre to three-acre lots and 33 percent  were on three- to 20-acre tracts.   

In addition to the non-waterfront lots, 39 waterfront lots were sold with a median price of $215,000 and a median size of 3.15 acres. Also, 39 waterfront lots were sold in the first nine month of 2015 and they had a median sold price of $220,000 with a median size of two acres.

Stay Connected with the Daily Roundup.

Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox.