Selling Building Lots via Auction
Scott P. Rogers
Stone Spring Manor is a newly developed subdivision in the City of Harrisonburg featuring 19 building lots. Prior to July 2008, seven of these building lots had sold, several of them having homes built on them.
The lot sales included sales prices between $58,000 and $79,800.
The home sales included sales prices between $262,000 and $292,000.
Yesterday (7/16/08), the remaining 12 building lots were to be sold at auction. The auction generated a quite a bit of interest, with close to 30 or 35 people present. Much of the draw was likely a curiosity of the price at which these lots would sell.
So, how did it go down?
The plat above and the chart below show the order in which the six lots sold at auction, and their prices.
Lot Sale #1 Lot 14 $46,000
Lot Sale #2 Lot 15 $38,000
Lot Sale #3 Lot 16 $39,000
Lot Sale #4 Lot 3 $34,000
Lot Sale #5 Lot 11 $33,000
Lot Sale #6 Lot 9 $38,000
The remaining lots are for sale with asking prices between $46,500 and $64,400.
The lot sales included sales prices between $58,000 and $79,800.
The home sales included sales prices between $262,000 and $292,000.
Yesterday (7/16/08), the remaining 12 building lots were to be sold at auction. The auction generated a quite a bit of interest, with close to 30 or 35 people present. Much of the draw was likely a curiosity of the price at which these lots would sell.
So, how did it go down?
The plat above and the chart below show the order in which the six lots sold at auction, and their prices.
Lot Sale #1 Lot 14 $46,000
Lot Sale #2 Lot 15 $38,000
Lot Sale #3 Lot 16 $39,000
Lot Sale #4 Lot 3 $34,000
Lot Sale #5 Lot 11 $33,000
Lot Sale #6 Lot 9 $38,000
The remaining lots are for sale with asking prices between $46,500 and $64,400.
