LAND..What's Selling..Whose Buying?

I recently participated in a survey with Land Brokers across the country and the results were recently published by the Realtors  Land Institute. As expected there were some very modest improvements in sales and sales price. The following chart shows how the country was divided into regions for reporting purposes. We'll focus on Region 3 where I practice Real Estate. The bulk of property selling in Region 3 is primarily timberland and recreational properties.

Country By Regions

Region 3 Reported Average Sales Close to 100 Acres

As you can see most participants reported 2 -3% Increases

The chart above shows Increase/Decrease By Land Type and by far most reported 0 - 5% Increases

Now, Who is Buying? Generally speaking Corporations are buying development and commercial properties. Families and Individuals are buying ranches and recreational properties. See the following graph.

I think there are 2 very important points: 1) If you have been waiting on prices to bottom out, you have probably waited too long and 2) in my opinion, interest rates will move up (not down). If you have been waiting to buy that tract of LAND.....now is the time!!!!

If you would like to see my listings, visit AllSouthLandandHomes.com   If you have questions about buying and selling LAND, contact G. Kent Morris, ALC, RF @ 706.457.0090