|Jim & Ivie Baker
P.O. Box 496
901 N. M-18
Gladwin, Michigan 48624
In 2012 acreage was typically selling from an average between $1300 to $2400 per acre.
Long gone are the days of buying acreage for $500 - $1000 per acre. Pricing per acre will
vary, depending on the total amount of acreage being sold at one time, weather there is
timber on the property, ponds, rivers, lake frontage or if there are any existing outbuildings
present on the property.
Typically, a nice wooded 10 acre parcel may list anywhere from $20,000 to $30,000
($2000-$3000 per acre), with $1935.00 being the most AVERAGE SALES PRICE (2012). If a
10 acre parcel has a very limited amount of timber, the value of the land might be on the
lower end of the scale, depending on whether it is tiled for farming or unimproved land. The
same is true for property with easement access, with no electricity available. Those factors
may substantially affect the land values.
Currently, in 2013 (from March 7th), non-commercial 10 acre parcels are LISTED between
$20,900 to $39,900. (Average list price being: $28,580)
A nice wooded 40 acre parcel may list anywhere from $69,900 all the way up to $112,000
and possibly more if the property has some unique features. The average SALE price for
wooded 40 acre parcels in 2012 was $61,666 with only 3 non-waterfront parcels selling in the
Clare/Gladwin area MLS. The sales prices ranged from $60,000 to $65,000.
NOTE: Only 2 riverfront 40 acre parcels sold in 2012. One sold for $78,000 and another for
$109,000 (both were in Clare County).
For 60 to 80 non-commercial acre parcels, currently listed in 2012 (from March 7th), they are
listed anywhere from $1140 to $1938 per acre. Sales prices per acre in this acre range for
2012, were between $1225 to $1312 per acre.
Larger parcels will probably sell for less per acre.
No parcels over 80 acre sold in the Clare/Gladwin MLS in 2012.
Acreage butting up to state land seems to be a hot item these days. Many people are looking
for their own private secluded hunting or recreational paradise, to get away from their busy
Prices have come down a little over the last year, but are holding. Many land owners offering
land contract terms, might ask a little more for their property, because they are offering terms.
If you are seeking to purchase vacant property, you should expect that the bank or seller will
require at least 20-25% down payment. This is typical with most banks offering vacant land
mortgages or land owners who offer land contracts.
If you are looking for a bank who offers mortgages on vacant land WITHOUT the buyer being
required to build on the property over a certain amount of time, contact Ivie Baker and she'll
be happy to forward you some information on some lenders who will finance vacant land.
(Information for these statistics came from the Clare/Gladwin MLS, 3/7/13)
|What is Acreage Going for in Mid Michigan?
|These statistics were pulled from the Clare and Gladwin County MLS. Acreage values will vary in different parts of Michigan.
These statistics should not be used to factor land values in other areas of the state. These values are based off of 2012 sales
ONLY! Please contact your local Realtor for an accurate market analysis for CURRENT property values.
|Statistics for Acreage Sales 2012