Sales of Building Lots Finally (Slowly) Improving
Scott P. Rogers
After a huge spike in sales (408 lot sales in 2004) and in median prices ($99,900 in 2006), the sales of building lots cooled quite a bit between 2004 and 2009.
The last few years, have shown slow but steady growth in this segment of our market -- 60 . . . 61 . . . 79 . . . 83 sales over the past four years.
This has also resulted in stability in the median sales price, which has been right around $55,000 for the past five years.
The next question is -- where (and when) will we see the next new development of single family home residential lots....
