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Price Per Acre

michiganlandpineconeA question I am often asked is “ What is land selling for these days?

“Such was the case as I overheard a conversation the other day. As the two talked they were discussing parcels of land they knew of that had sold and the price it sold for. They came up with a value they thought was market value for land.

Interestingly enough, they really did not discuss the type land, it’s location or it’s charterisitics. Was it wooded or not? If wooded, what type of trees? Was it hardwoods, or pines, or brush?  Was it high ground or low? Was it flat or rolling?  Was there electric to the parcel? Was it on a paved road, gravel road, private road and was it accessible year round?

All these factors affect the desirability of the property and the value of what a willing buyer will pay, or what it will take for the seller to part with it.

It is like asking “What are used cars selling for these days?

Written by Dave.