The ‘Realtors Land Institute’ Land Survey is Out with tons of valuable information. The survey is published based on Land Broker responses from across the US. The US is broken up to different regions to help quantify the data. See the following picture.
The bulk of Land Brokers sell Agricultural, Residential and Recreational properties!
Change in Land prices by Type from last year!
Land prices generally rose 2-3% from one year ago!
Expected Change in prices for 2016!
We are expecting 2-4% increases in the SouthEast depending on Land Type!
By far, the bulk of land SOLD is classified as Residential, Agricultural and Recreational.
Type of Land Sold by Region
As you can see from the chart above, the bulk of the property SOLD in the southeast US is Timber, Residential and Recreational. The take away is simple, the bottom has occurred and we are expecting modest increases in prices going forward. If you are contemplating buying LAND….don’t wait!!
To see my listings, visit AllSouthLandandHomes.com. If you have questions about buying or selling LAND, contact G. Kent Morris @ 706.457.0090