| Jim & Ivie Baker Kehoe Realty Inc. P.O. Box 496 901 N. M-18 Gladwin, Michigan 48624 989.429.0124 989.429.0123 Office: 989.426.0664 |
In 2010 acreage was typically selling from $1400 to $3200 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
($1500-$3250 per acre), with $24,964 being the most AVERAGE SALES PRICE (2010). 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 2011 (from March 16th), non-commercial 10 acre parcels are listed between
$19,900 to $34,900. (Average: $28,736)
A nice wooded 40 acre parcel may list anywhere from $50,000 all the way up to $120,000
and possibly more if the property has some unique features. The average "sale" price for
wooded 40 acre parcels in 2010 was $88,750 with only 4 parcels selling in the Clare/Gladwin
area MLS. The sales prices ranged from $72,000 to $115,000. (This excludes riverfront &
lake front acreage).
As far as 60 to 80 acre parcels currently listed in 2011 (from March 16th), they are listed
anywhere from $1290 to $3000 per acre. Sales prices per acre in this acre range for 2010,
were between $1468 to $2500 per acre with only 2 total sales in 2010.
Larger parcels will probably sell for less per acre. The only parcel over 100 acres that sold in
the Gladwin/Clare county area in 2010, sold for $865.38 per acre in Franklin Twp. That was
a unique situation and is usually unlikely to find acreage selling that low. However, in these
economic times, some unique situations may arise.
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
lives.
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, 3/16/11)
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
($1500-$3250 per acre), with $24,964 being the most AVERAGE SALES PRICE (2010). 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 2011 (from March 16th), non-commercial 10 acre parcels are listed between
$19,900 to $34,900. (Average: $28,736)
A nice wooded 40 acre parcel may list anywhere from $50,000 all the way up to $120,000
and possibly more if the property has some unique features. The average "sale" price for
wooded 40 acre parcels in 2010 was $88,750 with only 4 parcels selling in the Clare/Gladwin
area MLS. The sales prices ranged from $72,000 to $115,000. (This excludes riverfront &
lake front acreage).
As far as 60 to 80 acre parcels currently listed in 2011 (from March 16th), they are listed
anywhere from $1290 to $3000 per acre. Sales prices per acre in this acre range for 2010,
were between $1468 to $2500 per acre with only 2 total sales in 2010.
Larger parcels will probably sell for less per acre. The only parcel over 100 acres that sold in
the Gladwin/Clare county area in 2010, sold for $865.38 per acre in Franklin Twp. That was
a unique situation and is usually unlikely to find acreage selling that low. However, in these
economic times, some unique situations may arise.
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
lives.
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, 3/16/11)
| What is Acreage Going for in Mid Michigan? |
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| 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 2010 sales ONLY! Please contact your local Realtor for an accurate market analysis for CURRENT property values. |