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Land prices / insane!!!

Arrowsmith1 said:
I agree. $5600 an acre is about average for a recreational property in this area. We are fortunate that we bought our farm in 2010 and we got our house and shop built before Covid hit. Our ground would bring about 4x what we paid for it at today's prices.

We don't have any Amish within about 5 miles of us. As a rule of thumb most Davis county Amish farms are within a 10 mile radius of Bloomfield. We are about 15 miles from town. I have asked some of my Amish friends why they have not bought in our area. Their reply was "It's too far from town".

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That’s a pretty common thing- they don’t want to be far from town for a ton of reasons. Most are 5-6 miles at most. (At least in Mitchell/worth/Howard counties)
 
Old thread, but have rec prices decreased any? I've been offered 1st chance to buy a chunk of timber, but have sticker shock for unfarmable or developable land.
 
I wouldn’t say prices have gone down. There just isn’t enough inventory. But the % increase in values have slowed. I think the last quarter in my area was like 1%, 3.5% across the state average according to a real estate institute report.


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CottonwoodCanyon said:
I wouldn’t say prices have gone down. There just isn’t enough inventory. But the % increase in values have slowed. I think the last quarter in my area was like 1%, 3.5% across the state average according to a real estate institute report.
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Agreed...the rapid increases have slowed, but nothing has gone down that I am aware of. We are still trading at record highs in my area.
 
Thanks guys. Looks like I'm going to lose my last bit of private land. I just can't justify that expense for a hobby. Maybe if it had a house on it, or if any of it were farmable or developable land, etc. Ugh! Breaks my heart, yet again.
 
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CottonwoodCanyon said:
Purely out of curiosity, what was the owner asking? Is he listing it with an agent or selling off market?
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He's a friend of mine, and I was offered a price of $4,350 per acre (~67 acres), with no realtor / agent in the mix. I can't guarantee that will be the asking price once its listed with an agent, or that this was a discounted 'friend' / 'good neighbor' price that I was offered. If anyone is interested, I'll ask him if he wants me to put people directly in touch with him. He talked about researching agents Monday (today), so there may still be time to talk to him directly.
 
Maybe the first domino is starting to fall. Vacation home sales are down 50% (per redfin data) from pre-pandemic levels. That's a monster dip considering they spiked during the pandemic and have now fallen below 2019 levels. Rec ground and vacation homes are similar in that discretionary spending is involved.
 
8bitnes said:
Maybe the first domino is starting to fall. Vacation home sales are down 50% (per redfin data) from pre-pandemic levels. That's a monster dip considering they spiked during the pandemic and have now fallen below 2019 levels. Rec ground and vacation homes are similar in that discretionary spending is involved.
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Hope so!
 
I have a purchase agreement on a rec farm I'm selling that is super high.. It's a larger parcel and will probably be a record for the county on rec farm sell price.. It's a great hunting farm and someone really wanted it. I'm trying to find a replacement farm and sellers are negotiating some but not much.. No inventory either on good farms.
 
This. Is. Insane. Everything in the state is now an "executive building site" and it drives me bonkers.
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8bitnes said:
Maybe the first domino is starting to fall. Vacation home sales are down 50% (per redfin data) from pre-pandemic levels. That's a monster dip considering they spiked during the pandemic and have now fallen below 2019 levels. Rec ground and vacation homes are similar in that discretionary spending is involved.
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Half a section of rec ground just sold for $3300/acre in Jasper county
 

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8bitnes said:
Half a section of rec ground just sold for $3300/acre in Jasper county
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That property had issues that drove the price down. Access by easement only. Part of the property not accessible except by crossing the river. And I'm pretty sure most of the property was flood plain.
 
Quality farm ground in NW Mo is still strong. I watched a 54a parcel with 50a tillable go for $11,100/a last week. Highest price I've ever seen In Worth county Mo.
 
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