The recovery in land sales continues through July with nearly 23 percent more lots sold. The average price is over 12 percent higher than last year-to-date and 25 percent higher than last year overall. There is still a lot of land for sale and even with increased sales, only 54 lots have sold to date. The opportunity to buy land at bargain prices continues, but the bottom is probably past.
The inventory is just above 2,100 properties for sale and continues its slow seasonal decline.
$305,700 ... average land sale price to date 2012
$244,500 ... average land sale price for all of 2011
Chuck Leathers is the broker/owner of Chuck Leathers Real Estate Co. He can be reached at (888) 485-2300 or email him at ChuckLeathers@Realtor.com.