- Dec 31, 2020
- Reaction score
- North Alabama zone 7b
Land prices are going up but nothing like they are in Texas. Land is at anywhere from 3 to 10 thousand an acre here. When we moved here 7 or 8 years ago I think we only paid around a thousand and acre for land with river frontage though that does mean several acres are unusable do to being in the flood plane. I think we paid about the same as you for our mobile home. We are in a sellers market right now houses in the suburbs and rural areas are selling the same day they are listed. People are getting out of the big cities at a rapid rate after COVID.Has anyone experienced rising land prices? Here in Texas, prices are in the stratosphere and they keep going up. Raw land in our area is now bumping $25,000 per acre. We paid $65,000 for our mobile home and 8 acres 7 years ago. We put in a lot of work, building barns, fences and improvements. We could sell it now for $250,000-$300,000 or even higher. Value? Inflation? Is our money debased that much? Is supply and demand making the land values sky rocket by galloping leaps and bounds? I think it might be a combination of all. How are young people to buy a home and meet the payment?
What are land prices doing in your area?