3-4.99 Acres
There were 14 sales, with the average sale price being $30,872/A. Marketing time was very fast with lots taking a median average of just 24 days to sell! Discounts from asking price were slim, with the average discount being less than 5% off.
5-9.99 Acres
There were 19 sales, with the average sale price being $23,845/A. Marketing time for this segment was longer, with the median average coming in at 139. That probably played a role in discounts being a little more prevalent. The average discount from asking was 10%.
10-19.99 Acres
There were 17 sales in this group, with the average sale price being $18,443/A. Marketing time for this segment was longer still, with the median being 229 days. The average discount was just over 2%.
20+ Acres
8 sales were recorded, with average sale price being $11,625/A. Median marketing time was just 69 days. The average discount was nearly 15%.
No surprise, as the volume of acres increased the price per acre decreased. There are a lot of factors that go into determining the value of a given piece of ground, with just one of those factors being the total number of acres being purchased.
Well, that’s a wrap for 2020. What will this next year bring? Time will only tell. If you are looking for a piece of land, give me a call at (317) 625-0655 and let’s talk specifics. Let 2021 be the year!
