What price does small acreage cost in your area?

[street]

4,809 Square Feet
518 S Gertruda Ave, Redondo Beach, CA 90277
Sold: $1,428,000 Sold on 09/16/21

WOW! I went and looked that lot up and sure wouldn't pay that for that lot. Lol
Narrow and squished in to put a house. Man I just don't see that price for it.

 

[Gumby]

4,809 Square Feet
518 S Gertruda Ave, Redondo Beach, CA 90277
Sold: $1,428,000 Sold on 09/16/21

At that rate, you're looking at almost $65 million for a 5 acre lot.

 

[latexman]

My 3 siblings and I are selling a 41 acre farm to a developer for $1,700,000. It’s a country setting a few miles outside of town. So, a little over $40k/acre. In NC.

 

[street]

Just unbelievable prices! Lol

 

[RobbieB]

Yeah, but this is California eh?

 

[skyking1]

Location location location
We spent quite a bit to be close to the town. What that got us was not needing to use US101 except to leave town. Not needing a car for most fair weather trips for myself, I like to bike.

 

[ivinsfan]

You can't compare what is basically a building lot to actual acreage. I only wish it worked that way.

 

[Nikita]

WOW! I went and looked that lot up and sure wouldn't pay that for that lot. Lol
Narrow and squished in to put a house. Man I just don't see that price for it.

Two words, ocean view.

Seriously, developers are desperate and this a truly rare one that does not require tearing down an existing house. New homes in the neighborhood sell for up to $3M, and this is the "cheapest" of the three beach towns.

 

[frances]

Locations please?

interesting to see the responses but not everyone is putting locations.
Can y'all edit your responses for at least the state you're in?
That would make this thread even more interesting.

I'm in a northern suburb of Atlanta, GA, and it all depends on the county you're in. I found 7 acres one county north for $450k (much lower taxes there), MY county I just saw a few 11 & 12 acre lots available for $1.2M & $1.5M(my county supports City of Atlanta. If I had it to do over I seriously re-think living in Fulton County, GA!)

 

[Mr._Graybeard]

My 3 siblings and I are selling a 41 acre farm to a developer for $1,700,000. It’s a country setting a few miles outside of town. So, a little over $40k/acre. In NC.

My great uncle and wife had an 80-acre farm on the edge of Cook County, Il. When I was a kid I remember visiting their little cottage on a gravel country road (Cuba Road, to you Chicagoans). Near the end of their lives, now 50+ years ago, a developer offered them $400K and they turned him down. After he and his wife died the kids sold the place, of course. I understand that one of their grandkids lives in the subdivision that replaced it.

 

[street]

Two words, ocean view.

Seriously, developers are desperate and this a truly rare one that does not require tearing down an existing house. New homes in the neighborhood sell for up to $3M, and this is the "cheapest" of the three beach towns.

I must have missed the ocean front property description when I went and looked it up. I can that and also the price of living in California.

I id go back and see the ocean in the background. Not ocean front but close to ocean. Probably a good buy for the area but I couldn't live in a metro area.

 

[Sniggle]

In northern VA it can range from $180000 to $900000, depending on what town.

 

[aja8888]

In Texas, the sky is the limit! This state is so big, there are places people have never been to yet.

 

[homestead]

They sold about 5 acres near our house for 4M a couple years ago.
They built about 40 houses selling for 500k - 700k

 

[FIREd]

Around here (within a 30 minute drive of Geneva, Switzerland), it really depends whether the land is zoned as agricultural only or approved for development. Five acres of agricultural land might sell for $30K. If approved for development, it might sell for $3M+.

 

[skyking1]

our lot is a mile from city center, ~4.5 acres zoned r4-8 for a planned coverage of 4 lots per acre net.
We paid north of 250k.
We can just live on it, or subdivide any portion and build our house on the remainder lot. Once we crack it open the zoning is 5400 to 14,500 sq. ft lots, with the exception of the remainder lot.
In other words, I can't just sell two and keep two.
1/4 acre lots with all the utilities at the sidewalk are 60k-100k.

 

[street]

skyking1 the one thing is if reclassified when subdivided, I would suspect that land would be taxed more. I'm not sure if that is correct or not. I have some nice building spots on my place and could sell small acreages. I never have looked into it and most likely never will. I assume if I started reclassifying and cutting pieces out of it the tax structure would be a lot more even if the land had nothing on it yet?

 

[ArmchairMillionaire23]

~5 acre lots in the central UP of MI are going for $25K to $45K. Obviously commercial with hwy. frontage or waterfront lots go for 5X that.

I forgot to include a link.
https://www.zillow.com/homes/for_sale/land_type/?searchQueryState=%7B%22pagination%22%3A%7B%7D%2C%22mapBounds%22%3A%7B%22west%22%3A-88.14310967320222%2C%22east%22%3A-87.93162285679597%2C%22south%22%3A45.76501077994297%2C%22north%22%3A45.882243767146164%7D%2C%22isMapVisible%22%3Atrue%2C%22filterState%22%3A%7B%22price%22%3A%7B%22min%22%3A0%2C%22max%22%3A100000%7D%2C%22mp%22%3A%7B%22min%22%3A0%2C%22max%22%3A332%7D%2C%22sort%22%3A%7B%22value%22%3A%22lot%22%7D%2C%22ah%22%3A%7B%22value%22%3Atrue%7D%2C%22sf%22%3A%7B%22value%22%3Afalse%7D%2C%22con%22%3A%7B%22value%22%3Afalse%7D%2C%22mf%22%3A%7B%22value%22%3Afalse%7D%2C%22manu%22%3A%7B%22value%22%3Afalse%7D%2C%22tow%22%3A%7B%22value%22%3Afalse%7D%2C%22apa%22%3A%7B%22value%22%3Afalse%7D%2C%22apco%22%3A%7B%22value%22%3Afalse%7D%7D%2C%22isListVisible%22%3Atrue%2C%22mapZoom%22%3A12%7D

 

[skyking1]

skyking1 the one thing is if reclassified when subdivided, I would suspect that land would be taxed more. I'm not sure if that is correct or not. I have some nice building spots on my place and could sell small acreages. I never have looked into it and most likely never will. I assume if I started reclassifying and cutting pieces out of it the tax structure would be a lot more even if the land had nothing on it yet?

On this property that hasn't been the case. It was originally part of a larger parcel and it looks like the whole tax bill is going to add up to about the same amount.
The tax base is going to go up significantly when we do the improvements all the utilities things like that.

 

[Sunset]

Around here (within a 30 minute drive of Geneva, Switzerland), it really depends whether the land is zoned as agricultural only or approved for development. Five acres of agricultural land might sell for $30K. If approved for development, it might sell for $3M+.

That is crazy.
I just thought of a way to make a lot of money

 

[street]

On this property that hasn't been the case. It was originally part of a larger parcel and it looks like the whole tax bill is going to add up to about the same amount.
The tax base is going to go up significantly when we do the improvements all the utilities things like that.

Gotcha!

ArmchairMillionaire23 >>> those are some very reasonable prices for small acreage. Would be great for a second get away place but would be not as good for people commuting each day to their work places. Very nice looking properties thou.

I looked at larger junks on that Zillow site also. You wouldn't get 120 to 200 acre here for under 100k. Those large acre pieces are dirt cheap compared to where I live. Interesting. Thanks

 

[Out of Steam]

Out of Steam, I don't see land ever going down much if any.

Not much room to fall in the less fashionable areas I mentioned. Nothing fancy, but have some shopping and functioning local government and schools.

 

[ArmchairMillionaire23]

Gotcha!

ArmchairMillionaire23 >>> those are some very reasonable prices for small acreage. Would be great for a second get away place but would be not as good for people commuting each day to their work places. Very nice looking properties though.

I looked at larger junks on that Zillow site also. You wouldn't get 120 to 200 acre here for under 100k. Those large acre pieces are dirt cheap compared to where I live. Interesting. Thanks

Actually, all of those 3-6 acre lots shown on the map would be within a 5-10 minute commute of quite a few places of employment. With the shortage of people willing to w*rk nowadays, there's a lot of opportunity in that area. There are two large hospitals (a county hospital with around 700 employees, and a VA hospital with around 760 employees along with a medical clinic. There's also quite a bit of industry in the area as well.

 

[street]

ArmchairMillionaire23, location and work available etc. does make a difference for price. In my area so many great well paying jobs but lack of workers. I see often people leasing or buying spots here in remote areas for a place to just escape from their populated area they live full time from out of state.
Not far from me a family business leases an old homestead place year around and they spend maybe 2 weeks there hunting, fishing and solitude and love seeing the sunset and come up. A lot of land is leased for recreation for people that don't have those opportunities in the state they live. I think those small acreages are becoming more attractive and price has reflected considerably.

 

[pjigar]

My 3 siblings and I are selling a 41 acre farm to a developer for $1,700,000. It’s a country setting a few miles outside of town. So, a little over $40k/acre. In NC.

We are on the edge of Dallas, TX in a historically development depressed area. We bought land at $17K/acre here about 6 years ago. Now I see asking price of about 50K/acre around here. I still don't believe the land is worth that much around here but market thinks otherwise. I have called a RE bubble 6 months ago and I am sticking to it!

PS: I look at the macro factors and the micro factors when considering a land for purchase. Lot of the macro factors can be normalized using "driving time to the nearest super Walmart". It normalizes so many factors all at once e.g. distance, population density, road access, amenities, employers, etc. Can I request people to disclose the drive time to the nearest super Walmart when they list the price per acre? FWIW our land is about 15 minutes drive to the nearest super Walmart. The micro factors are specific to the property e.g. road frontage, lake frontage, corner lot, utility access, flood risk, easement rights, mineral rights, development restrictions, zoning, terrain, etc.