Land sales continue at a slow but steady pace with very expensive lots influencing the average price. August average prices were the highest so far this year, but September has levelled the average out somewhat, but still 17 percent higher than last year to date. About eight lots per month are selling, but there are 415 lots for sale this week. The total inventory is just 1,800 properties for sale, the lowest number in at least four years.
$653,500 ... average sale price for land in August
$363,800 ... average sale price for land so far in 2012
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.