Will land values follow the general housing market?

Yes I believe land values will continue to follow the general housing market.

about 7 days ago

Yes, based upon actual sales experience Land Values have followed the general housing market. I’ve recently sold Acreage and Residential Lots.

about 7 days ago

Yes, based on what I’ve seen land values do tend to mirror the housing market in terms of price increases.

about 7 days ago

So far they have. Here’s what I have noticed….

Land and rural property/homes are getting scooped up by this newborn Covid population that now can work from home and remotely anywhere in the nation.

The big companies noticed they can pay people a little less if they let them work from home. These employees absolute love the idea and can now move outward.

I’ve seen rural properties become more and more scarce and Ive worked with some of these buyers.

With job security and the opportunity to work anywhere, we’ll see it grow even faster.

In 2023, Elon Musk’s Starlink will be available in much of the rural areas too. When high speed internet goes rural, we’ll see it even more.

Rural growth and people living in their decked out vehicles. Growing fast.

about 7 days ago

Generally, yes…but location and “type/usage” may be a factor. A recent east Tx “unrestricted” .17 acre listing of mine is under contract for full price, where a larger one an hour south of DFW took 11 mos., and only for tax-appraised value. I want to iterate Mr. Applewhite’s comment… I think one reason my small lot listing sold so quickly is due to fiber optics coming to the area! So, Mr. Applewhite is right on… If your client anticipates working from home, fast internet will more than likely be key in their search.

about 7 days ago

Just as with about everything in real estate, location matters. In most areas prices of land skyrocketed, while in others, remain stale.
Many buyers want to forgo purchasing subdivision homes and dream of couple acres in a quiet, more rural country, but still somewhat close to the metropolitan areas.
Those areas have seen a substantial rise in prices.
So yes, for the most part, prices of land, follow prices of the residential market prices.

about 6 days ago

Due to the price increase in the metropolitan area, many of my clients do wish to buy a few acres in a peaceful location, but ultimately the cost remains the same.

about 6 days ago

Yes! The land trends should also follow the market.

about 6 days ago

Yes, the land values will follow the housing market. Right now, a lot of buyers have been willing to purchase land farther out and build due to the increase pricing in metro areas. As we see pricing slow down and correct over the next few months, you will also see that change in the land values have peeked and will start to correct as well. At the end of the day, it is all real estate. Hope that helps. God Bless!

about 4 days ago