So..what's an acre go for in your area?

[JRobyn]

In parts of north-central TN, where the topo is so "rolling" that 80-90% of the land area is unusable for pasture or structures, nice parcels of 10-hundreds of acres can be found for as little as $5-600 per. $1-2k is more typical, particularly if there's decent road/electric/water access. South of I-40 where the topo is more gentle and good for nurserys, or slightly east up on the Cumberland plateau, good for horse ranching, prices START at about $2k per and go way up to maybe $6-8k.

I really like our topo, where we have about 200 acres with ridges down the middle like a tree trunk, with our main road down the tree trunk, and few buildable sites on some of the main branches. We have about 15 acres in the middle that's cleared as pasture. The very steep drops off the ridgetops and the single access road makes it very secluded and secure! I'm hoping that our running a 2" city water line down the road, and having electric run into the middle for our/in-laws homesites will result in a good return on investment in terms of the land value appreciation!

- Jay

 

[MossRoad]

17 years ago I wanted to buy several 80 acre parcels. They wanted $160,000 for them which equals $2000 an acre. No one would give me a loan for that much. I drove by them several times in the past week. All have been subdivided into 1/3 acre lots or smaller with the smallest lots going for $25,000 a piece! Even if they were 1/2 acre lots, that would work out to 4 million!!!

 

[Champy]

Most of the land around here is selling for about $4500-$5000 per acre if you are buying crop land ~ 25ac and up sizes. Bottom land (flood plain) can go much cheaper $600-1000 / ac.....but you cannot build on it.

Farm land prices are clearly going up. A year ago I bought 34 acres for $3500 and acre....now its already worth $5000/acre.

 

[MicroPilot]

I once had a real estate agent tell me "..land is always a good investment, God isn't making anymore of it."

 

[mjarrels]

Results may very... location, location, location, zoning, available utilities, 5 houses per arce, 1 house per 5 acres, 200 acre farm etc.

mark

 

[mrkool]

In 1996, I purchased a 3000 sq ft house, 2 story-4 car garage, 100 yr old barn with 10 acres for 160,000, doing a re-fi on my mortage to buy a manuf. home with 5 acres at the back of my other 5 acres for 130,000, and my appraisal came to 300,000.

2 years ago, I bought 10 acres 1/4 mile down the road for 75,000, yesterday, we auctioned off 5 of the 10 and got 60,000.

Farmers are dying off around here, and devilopers are swarming, planner just passed 2000 more homes around the corner, and 1068 more 4 miles down the road, and on the otherside of the 200 acres of wood behind me, Fox Bros. Devilopment sounds like it's at my back door.

 

[Highbeam]

Ag is not the "highest" and best use here in the eastern puget sound. 60,000 per acre on a 5 acre lot if the lot is buildable. Per acre is a tough way to price things though since a buildable lot on acreage gives a baseline value and the additional acreage is a bonus with significantly less and less per acre value as the acreage goes up.

I bought my 15 acres in a rural area at 5-6000 per acre and now after 4 years it is valued at 20,000 per acre. My income hasn't gone up 4x in the last 4 years so really it just means that land is becoming unaffordable.

I wonder why I choose to live in an expensive area. I could sell my parcels and pay cash for a much larger and nicer home on acreage in many of the areas listed in this thread. Trouble is, I could never go back. Selling your soul?

 

[Unclebuck257]

I live about 11-12 miles east from jinman, and one county closer to the Dallas-Ft Worth metromess than jinman. We're about 35 miles northwest of Ft Worth, and it seems the building is coming out our way, along with a great deal of oil and gas drilling. I bought 50 rural acres in 98 for $1750.00 per acre, with a nice view, two stock tanks, partially wooded, rolling hills, and easy access. I recently learned that open pasture land, with no stock tanks, woods, view, etc, for sale near me was all going for $8000.00 per acre, and they were getting it too. A Real Estate Broker told me that if I took one penny less than $12,000.00 per acre for my place, I'd be foolish. Certainly a nice return on a 9 year investment, IF I wanted to sell, but I'm staying for now.

 

[AB4D]

Lots here are zoned AR-2, (agricultural/residential 2 acre), 2 acre buildable lots run about 150k. In town (Front Royal, VA) any buildable lot runs about 100K, non-buildable, non-water front recreational 1 acre lots run about 25k.


Jim

 

[Turbys_1700]

Here in Catawba County we are getting residential growth pressure from Charlotte as we are approximately 35 miles west/north west of the Queen City. My dad has turned down $2M for the 100 acre farm I live on. Small tracts in Lincoln County go for $30K to $40K per acre but the developers cut an acre up into three lots.

My dad had one of his farms taken by the state for a four lane highway. They paid him over $880K for 23 acres and his house which was valued at $190K, so that acreage went for $30K per acre. I guess you could say that they were fair with him. Especially since they left him with 45 acres on both interchanges. That commercial property will fetch a hefty price.