Real Estate At A Glance: Land sales through July | SummitDaily.com
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Real Estate At A Glance: Land sales through July

We end the July report cycle with the comatose land market. A grand total of 42 lots have sold this year through July. There were about 420 lots listed for sale this week and about 14 under contract to close. The average lot price is now $268,500, down from $330,000 to date last year. Cash buyers are taking advantage of the weakest part of our market. When land begins to sell again, these few buyers will look like geniuses.

Inventory is hanging around 2,400 properties for sale, at about the same level for the past 90 days.

42… number of lots sold through seven months of 2011.

49… number of lots sold in March of 2007.

$400,900… average lot price in 2007.

Chuck Leathers is the broker/owner of Chuck Leathers Real Estate Co. He can be reached at (888) 485-2300 or e-mail him at ChuckLeathers@Realtor.com.


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