REALTORS® Land Institute Survey
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- Recreational and residential land accounted for about 50% of U.S. closed land transactions between October 2015‒September 2016.
- On average, the dollar volume of U.S. land sales increased by 2% between October 2015‒September 2016 compared to the previous 12-month period (2% in the October 2015 survey)..
- On average, U.S. land prices (in dollars per acre) rose at a slower pace of 1% from September 2015 to September 2016 versus 2% in the prior year (in part due to the decline in agricultural land prices)..
- On average, respondents expect U.S. land sales volumes to increase by 2% between October 2016‒September 2017 compared to the October 2015‒September 2016 period.
- On average, respondents expect U.S. land prices (in dollars per acre) to increase at a modest pace of 1% from September 2016 to September 2017.
- Individual/family buyers were the major buyers and sellers of U.S. land, with Region 1 accounting for the largest share of individual/family buyers (35%)and sellers (26%).
- The acreage of U.S. land sold was typically 75 acres; ranch lands were typically 200 acres, while residential lands were typically 5 acres.
- U.S. lands for sale were typically sold within 100 days. Land sold more quickly in Regions 2 and 4 and for agricultural non-irrigated, timber, and recreational lands.
- On average, buyers of U.S. land financed 32% of the value of the property (or made a 68% down payment)..
- Irrigated lands accounted for 10% of U.S. land sales. Nearly half of all irrigated land sales were in Region 5 (43%).
- Mineral rights were conveyed in 68% of U.S. land sales.