Just a quick look at residential off water lot sales in Trigg County this year. All data is from the Western Kentucky Regional MLS as of November 12, 2015. Excluded from this data are waterfront lots as they carry a disproportionate value. Waterfront lot sales will be reviewed in a separate report.
Residential lot sales as of November 12, 2015 include a total of 23 units sold. Same time 2014 unit sales amounted to 21 lots. Low priced sale this year was $2,750 for 1.2 acres and the high was $135,000 for a 25.21 acre parcel. Average days on market for sold lots was 224 days. Average sale price per acre in 2015 has been $10,919 per acre with the median sale price being $5,636 per acre. There are currently 194 residential lots for sale in Trigg County.
As usual market value for a lot is dependent upon a variety of factors. Condition ( lot cleared, utilities available, restrictions, etc), Location ( in a subdivision, proximity to transportation or recreation, distance from work) and Price. A seller must present a premium property to get a premium price.
Based upon the sales figures, it appears the market for residential lots is slow but steady showing only a small increase in sales so far this year.
If you have a residential lot that you are considering selling, I would be happy to look at the property and provide a Comparative Market Analysis at no expense.